G7 leaders warn China and Russia; Biden anticipates improving relations

G7 leaders warned China and North Korea against building up their nuclear arsenals and rolled out sanctions on Russia for invading Ukraine.
British Prime Minister Sunak called China the biggest challenge to global security but said leading economies should not fully decouple from China.
President Biden said spy craft incident derailed open dialogue with China but hopes to reopen talks; Biden framed conflict with China as competition rather than seeing China as an adversary.
G7 members are looking to de-risk and diversify their relationship with China by diversifying supply chains and counteracting harmful practices without decoupling.
Despite G7 warnings, President Biden predicted relations with China would improve; China questioned US sincerity and called for lifting of sanctions.