Posted on 06/12/2021 8:24:32 PM PDT by SeekAndFind
CARBIS BAY, England–The Group of Seven richest democracies on June 12 sought to counter China’s growing influence by offering developing nations an infrastructure plan that would rival Chinese leader Xi Jinping’s multi-trillion-dollar Belt and Road initiative.
The G7, whose leaders are meeting in southwestern England, has been searching for a coherent response to the growing assertiveness of Xi after China’s surging economic and military rise over the past 40 years.
U.S. President Joe Biden and other G7 leaders hope their plan, known as the Build Back Better World (B3W) initiative, will provide a transparent infrastructure partnership to help narrow the $40 trillion needed by developing nations by 2035, the White House said.
“This is not just about confronting or taking on China,” a senior official in Biden’s administration said. “But until now we haven’t offered a positive alternative that reflects our values, our standards, and our way of doing business.”
The G7 and its allies will use the initiative to mobilize private-sector capital in areas such as climate, health, and health security, digital technology, and gender equity and equality, the White House added.
It was not immediately clear how exactly the plan would work or how much capital it would ultimately allocate.
China’s Belt and Road Initiative (BRI) scheme, which Xi launched in 2013, involves development and investment initiatives that would stretch from Asia to Europe and beyond.
More than 100 countries have signed agreements with China to cooperate in BRI projects like railways, ports, highways, and other infrastructure.
Critics say Xi’s plan to create a modern version of the ancient Silk Road trade route to link China with Asia, Europe, and beyond is a vehicle for the expansion of Communist China. Beijing says such doubts betray the “imperial hangover” of many Western powers that humiliated China for centuries.
(Excerpt) Read more at theepochtimes.com ...
The United States is now the weakest g7 country
Well, we have the weakest “leader”
Seems appropriate to post this clip given the level of maturity being demonstrated on both sides.
This contention is much to the detriment of the nations who would greatly benefit from some really wisely designed, coordinated, and funded help. Instead, they are being made the future battlefields for ugly developmental oneupsmanship between contending political power blocks.
Nearly all the money will be stolen by grasping “public servants.”
7 1/2 minute video on that subject.
Comments & suggestions solicited. If you don’t hear back, I’ll most likely be in custody or at Kamp Kamala...waiting my turn in the showers!
https://www.brighteon.com/1d135ff4-e677-4bd0-9439-8729c5c08f72
Haha is Reuters in on this joke of a US “leader” - searching for a ‘coherent’ response. Glad to see they have a sense of humor even as they spiral the drain.
Wow actually reading the details - not one single developing country is going to take G7 aid or financing if it requires implementing a work agenda shared by perhaps 1% of the world’s population. They are literally saying if you want us to help build airports or clean water you have to do things like legalise gay marriage. The hubris is stunning.
“Woke” not work.
Grand infrastructure plan AKA grand big scam
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