Summary Biden warns of U.S. recession unless ceiling raised quicklyChina's slowing inflation adds to global recession fearsG7 finance leaders kick off meeting in Niigata, JapanNIIGATA, Japan, May 11 (Reuters) - A standoff over raising the U.S. debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders set to begin on Thursday, heightening U.S. recession fears as central banks seek a soft landing for the global economy. The U.S. debt crisis is a headache for Japan, which is this year's G7 chair and the world's biggest holder of U.S. debt. Japan's top financial diplomat, Masato Kanda, said on Tuesday the G7 finance leaders might discuss the U.S. debt ceiling but likely would not explicitly mention it in a joint statement at the end of the meeting on Saturday. Past U.S. debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, avoiding an unprecedented default. Back then, the G7 finance leaders said in a statement that they were "committed to addressing the tensions stemming from the current challenges on our fiscal deficits, debt and growth."

---