'New Cold War' pits G7 against China and Russia, but Xi dismisses U.S. as 'paper tiger'.

The article reports that a joint statement was issued by the Group of Seven (G7) industrialized countries including the U.S., Canada and France, on June 5, 2014, to warn China against its efforts to 'assert its territorial or maritime claims' in the East China Sea and the South China Sea. China was not mentioned by name in the statement which was the result of lobbying by the United States and Japan against China.