G7 launches infrastructure plan to compete with China

The US government has indicated that its Infrastructure Initiative is a collaboration between large democracies to implement a project guided by “high values, standards, and transparency.”

In a telephone conversation with reporters, senior officials of the US Executive said that this proposal seeks a way to offer something to the developing world, but does not want to “force countries to choose.”

“It’s not just about confronting or confronting China,” said a senior Biden administration official. “But we have not yet offered a positive alternative that reflects our values, standards and way of doing business.”

“It’s kind of a recognition that there is still a huge infrastructure gap globally,” he explained.

The White House said the plan “helps narrow the more than $40 trillion infrastructure needs the developing world needs by 2035 that have been exacerbated by the COVID-19 pandemic.”

The US proposal aims to mobilize capital from the private sector to promote projects in four areas: climate, health security, digital technology and gender equality, in addition to having investments from financial institutions.

Biden highlights China, which is vying for world domination against the United States, during this summit of the leaders of the world’s most industrialized democracies: the United States, the United Kingdom, Germany, France, Italy, Canada and Japan. European Union.

In the conversation, White House officials acknowledged that there were “some differences of opinion” among the G7 leaders about “how aggressively” to act against Beijing.

They confirmed that British Prime Minister Boris Johnson supported Biden, along with Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron.

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