The Group of Seven Richest Democracies on Saturday sought to counter China’s growing influence by offering developing countries an infrastructure plan that could rival the Belt’s multibillion-dollar initiative. President Xi Jinping’s Route.

The G7, whose leaders meet in southwest England, are seeking a coherent response to Xi’s growing assertion after China’s economic and military rise over the past 40 years.

US President Joe Biden and other G7 leaders hope their plan, known as the Build Back Better World (B3W) initiative, will provide a transparent infrastructure partnership to help cut the $ 40 trillion needed to developing countries by 2035, the White House said.

“It’s not just about facing or facing China,” said a senior official in the Biden administration. “But so far we have not come up with a positive alternative that reflects our values, our standards and the way we do business.”

The United States later said there was a G7 consensus on the need for a common Chinese approach on trade and human rights.

The G7 and its allies will use the B3W initiative to mobilize private sector capital in areas such as climate, health and safety, digital technology, and gender equity and equality, the House added. White.

It was not immediately clear how the plan would work exactly or how much capital it would ultimately allocate.

China’s Belt and Road Program (BRI), which Xi launched in 2013, involves development and investment initiatives that would span from Asia to Europe and beyond.

More than 100 countries have signed agreements with China to cooperate in BRI projects like railways, ports, highways and other infrastructure.

Critics say Xi’s plan to create a modern version of the ancient Silk Road trade route to connect China with Asia, Europe and beyond is a vector for expansion of the Silk Road. Communist China. Beijing says such doubts betray the “imperial hangover” of many Western powers that have humiliated China for centuries.

RISE IN CHINA

G7 leaders – the United States, Canada, Britain, Germany, Italy, France and Japan – want to use their rally in the seaside resort of Carbis Bay to show the world that richer democracies may offer an alternative to China’s growing weight.

China’s re-emergence as the world’s leading power is considered one of the most important geopolitical events of recent times, with the fall of the Soviet Union in 1991 that ended the Cold War.

China in 1979 had a smaller economy than Italy’s, but after opening up to foreign investment and introducing market reforms, it has become the world’s second-largest economy and is a world leader in a range of new technologies.

The US official has so far said that the West has not offered a positive alternative to the Chinese government’s “lack of transparency, poor environmental and labor standards and coercive approach” which has made many worse. country.

According to a Refinitiv database, as of the middle of last year, more than 2,600 projects costing $ 3.7 trillion were linked to the BRI, although China’s Foreign Ministry said last June that ‘About 20% of projects had been severely affected by COVID. -19 pandemic.

As part of the G7 plan, the United States will work with the United States Congress to supplement existing development finance and to “collectively catalyze hundreds of billions of dollars in infrastructure investments,” the White House said.

CRITICISM ON CAMPS

Biden made “forceful comments” to G7 leaders on the need to make a strong statement on Washington and a human rights group said forced labor in China, but there was a “specter of so far. ‘where different countries are ready to go’ in their criticism in a final statement from the three-day summit, another US official said.

The US official later said that the G7 had reached consensus on the need for a common approach on “non-market economic practices” and on human rights violations, and to coordinate on the resilience of the supply chain. Read more

The United States pushed for specific language in the statement about alleged forced labor in China’s Xinjiang region, officials said.

UN experts and rights groups estimate that more than a million people, mostly Uyghurs and other Muslim minorities, have been detained in recent years in a vast camp system in Xinjiang.

China denies all charges of forced labor or abuse. He initially denied the existence of the camps, but has since said they were vocational training centers designed to counter extremism. At the end of 2019, China declared that all people in the camps were “graduates.”

China’s Foreign Ministry did not immediately respond to a request for comment.

Our standards: Thomson Reuters Trust Principles.



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