Author Topic: G7 backs Biden infrastructure plan to rival China’s belt and road initiative  (Read 119 times)

adroth

  • Administrator
  • Boffin
  • *****
  • Posts: 12977
    • View Profile
    • The ADROTH Project
G7 backs Biden infrastructure plan to rival China’s belt and road initiative
Patrick Wintour, Diplomatic Editor
Sat 12 Jun 2021 10.04 EDT

https://www.theguardian.com/world/2021/jun/12/g7-global-infrastructure-plan-to-rival-chinas-belt-and-road-initiative

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.

< Edited >

The EU is also pressing the US to back a legally binding code of conduct for the South China Sea that Beijing has been negotiating with regional powers.

Draghi, an Atlantacist, has shifted Italy away from the near pro-China policies of the previous Italian government led by the Five Star Movement, but argues that the G7 has a balancing act to pull off in challenging and cooperating with Beijing. Germany, often cautious about confronting China, has been reluctant to specify the monetary value of any infrastructure fund, and France has emphasised a reallocation of rich countries’ special drawing rights, foreign exchange reserve assets maintained by the IMF, towards poorest countries as a means of easing liquidity.

US officials said Biden was pushing the other G7 leaders for “concrete action on forced labour” in China and to include criticism of Beijing in their final communique. Japan also said it was backing a mention of Taiwan in the final statement.

The US secretary of state, Antony Blinken, spoke to his Chinese opposite number, Yang Jiechi, from Cornwall on Friday to urge him to release more details about whether Covid-19 leaked from a Wuhan laboratory, a once-dismissed theory now gaining currency.

< Edited >


« Last Edit: June 15, 2021, 10:17:53 AM by adroth »