On the second day of the summit, G7 leaders endorsed a plan to help low- and middle-income countries build better infrastructure, “Rebuilding a Better World,” proposed by US President Joe Biden. The plan is intended to be an alternative to China’s Belt and Road Initiative.
Plan joigo is our hand, call “Rebuilding a better world” (Rebuilding a Better World), acronym for nifty “B3W”, aims to support developing countries by 2035 to raise hundreds of billions of public and private funds to help close the 40 infrastructure gap by 2035. Trillion dollars, He said An American official.
The initiative was discussed and endorsed by the G7 nations during the ongoing Cornwall Summit.
The purpose of preventing Chinese expansion?
B3W is intended to be an alternative to China’s “Belt and Road” or according to the old Belt and Road Initiative (BRI or B&R) introduced by the leader of the People’s Republic of China Xi Jinping In 2013 as a new silk road.
Chinese initiative Depends on On the expansion of the connected infrastructure network China, Regions Middle AsiaAnd the Middle eastAnd the Africa I Europe, which creates particularly favorable opportunities for cooperation in the field of infrastructure and financial projects. To date, more than 100 countries have participated in the programme.
The project Assist Financing the construction of railways, roads or ports in many countries, particularly in Asia and Africa. According to Refinitiv data that cites Reuters, as of last year, more than 2.6 thousand jobs were started under the Belt and Road Initiative. Projects totaling $3.7 trillion. However, a year ago, China’s Ministry of Diplomacy reported that nearly 20 percent of projects were severely hampered by the COVID-19 pandemic.
The Belt and Road Initiative has been criticized on the grounds that the participating countries are heavily indebted, making them dependent on China. This, in turn, according to critics, helps the People’s Republic of China to expand economically to the rest of Asia and other continents. some experts Whatch outThat although there have been only a few confirmed debt cases to date, the confidential nature of many contracts hampers valuation.
The “ambitious alternative” to Chinese methodsساليب
A US official said Biden’s plan is expected to be “an ambitious new global initiative with US G7 partners.” “It’s not about confronting or ‘cutting off’ China,” he warned, adding that there has so far been no positive alternative from the West for “the lack of transparency, low standards in environmental conditions, working conditions and coercive approaches.” “What distinguishes China’s economic development methods.
How Delivered Another US administration official, Joe Biden, “in firm words” persuaded the leaders of the other G-7 nations to issue a statement clearly opposing, among other things, China’s forced labor practices, but “there were differences about how far each country wanted to go.” In its criticism of Beijing in the closing statement of the summit.
Biden, who is trying to persuade other leaders to take the Chinese issue more seriously, pressure To make clear that forced labor is contrary to human dignity and “a blatant example of China’s unfair economic competition.” In this context, the US administration has paid special attention to the practices applied in Xinjiang Province.
According to the BBC, in the statement issued at the conclusion of the summit, that is, tonight (13 June), the countries of the group are scheduled to offer the countries benefiting from the initiative a “values-based partnership”. High standards and transparency.
Skeptical Draghi, careful Merkel
One of the leaders most skeptical of the US demands was during the summit talks of Italy’s prime ministers, who are currently leading the G-20 – Mario Draghi. The former head of the European Central Bank was adamant not to over-stimulate competition against China. According to the Guardian horrified This could disrupt cooperation in other areas, such as, for example, combating climate change, he said.
Draghi, the British daily newspaper, who took office in February of this year, as it points out, points out, has departed from the pro-China policy of the previous government, formed by a coalition led by the Five Star Movement (M5S). However, he calls for balancing the G7’s approach to China by combining competition with Beijing and cooperation.
Germany headed by the advisor Angela Merkel They were reluctant to announce specific financial commitments to the planned project, and France in the person of the President Emanuela Macron I suggested As a way to support the increased liquidity of developing countries through the reallocation of Special Drawing Rights (SDRs) operating under the International Monetary Fund to them.
G7 summit in Great Britain
The meeting of the leaders of the world’s seven leading economies due to the British presidency of the Group of Seven is being held this year in Cornwall. The Prime Minister is the host of the summit Boris JohnsonWhich hosts the leaders of Carbis Bay United States of AmericaAnd the GermanAnd the FranceAnd the ItalianAnd the Japan I Canada. Traditionally, a delegation also participates in the summit European Union. Delegates were also invited to attend the talks IndiaAnd the Australia I South Korea.
The G7 summit began on Friday and continues until today (June 13). A summary of the first day of the meeting is available here.
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