Saturday, February 4, 2023

G7 countries have a plan to counter China’s Belt and Road Initiative

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The program, dubbed the “Partnership for Global Infrastructure and Investment” (PGII), aims to mobilize $600 billion by 2027 in investments for infrastructure in developing countries with an emphasis on sustainable and secure development. Neither President Biden nor the White House fact sheet explicitly mentioned China by name. Yet, it is generally understood that the PGII aims to provide an alternative to China’s infrastructure investment inroads in low-and middle-income countries—also known as Chairman Xi’s signature foreign policy initiative the Belt and Road Initiative (BRI).

 
Correspondent IBP

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