søndag 13. juni 2021

Biden aims to counter China's global infrastructure project with new G7 initiative

The United States says it will be a lead partner in a new global, climate-friendly infrastructure program with its Group of 7 partners, part of President Joe Biden's larger efforts at the G7 summit to better position the US and its allies to compete with China in the aftermath of the coronavirus pandemic.

Confronting China's authoritarianism, however, emerged as a source of contention between the leaders. The White House said the program, presented as an alternative to China's own global infrastructure initiative, will "help narrow the $40+ trillion infrastructure need in the developing world, which has been exacerbated by the COVID-19 pandemic." A senior administration official described the plan, called the "Build Back Better World" initiative, as a "bold, new global infrastructure initiative with our G7 partners that will be values-driven, transparent and sustainable" and will compete with China's Belt and Road Initiative.

The G7 will announce "a positive alternative that reflects our values, our standards, and our way of doing business," a second senior official said.