Leaders of the G7 agreed to calls by US President Joe Biden to band together to compete with China
The Guardian: G7 backs Biden infrastructure plan to rival China’s belt and road initiative
Scheme is part of wider push for G7 leaders to question China on human rights, Taiwan and Covid-19
The G7 group of rich nations has agreed plans to set up an alternative to China’s belt and road initiative as part of a broad push back against Beijing covering human rights, supply chains, support for Taiwan and demands to reveal more about the origins of the Covid-19 pandemic.
Some G7 leaders, however, including the Italian prime minister, Mario Draghi, the current chair of the G20, have urged Joe Biden not to push competition with China to the extent that it prevents cooperation on other vital issues such as the climate crisis.
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WNU editor: This G-7 plan is crazy. China can do it's belt and road initiative because it has trillions in surplus funds obtained from years of having trade surpluses. In comparison to the G-7, what we see are countries running massive budget deficits, trade deficits, and assuming unfunded liabilities in the mega-trillions.
And now the G-7 plans to assume even more debt?!?!?!?
But it gets even better. China also has a lot of problems with many of these countries because they cannot pay their debts. Case in point .... Pakistan .... Pakistan's Economic Crisis Worsens As China Refuses To Provide Additional Loans Or Debt Relief (May 31, 2021).
Is the G-7 really that eager to rush and assist countries like Pakistan?!?!? After today's announcement, the answer appears to be yes.
This is unfortunate. The best way to stop China is by imposing severe tariffs. But that is President Trump's policy .... hence it is not going to happen.
More News On G7 Leaders Agreeing To President Biden's Plan To Compete Against China
'Build Back Better World': G7 leaders back developing world spending plan to rival China -- Euronews
G7 to counter China’s clout with big infrastructure project: senior US official -- Arab News/Reuters
Biden aims to counter China's global infrastructure project with new G7 initiative -- CNN
G-7 agrees on infrastructure plan to counter China's Belt and Road -- Nikkei Asia
G7 leaders attempt to rival China with infrastructure project -- Al Jazeera
