G7 leaders have tried to compete with China with construction | United Kingdom News
The Group of Seven (G7) has unveiled a major project for low-income countries in response to China’s China Belt and Road Initiative, dubbed “New Silk Road”.
Promising to “collectively support” hundreds of billions of dollars in the low- and middle-income countries, G7 leaders said on Saturday that they would offer a “progressive, high-quality and transparent” agreement.
The announcement came as G7 leaders – the United States, Canada, the United Kingdom, Germany, Italy, France and Japan – gathered on the Carbis Bay coast in the southwest of England.
Their “Build Back Better World” (B3W) project, sponsored by U.S. President Joe Biden’s administration, aims to challenge the Belt and Road approach, which has been widely criticized for its interests in small countries and non-performing loans. ‘spoken of.
The White House said words that the approach seeks to “help reduce the $ 40 + trillion cuts needed in developing countries, which have been exacerbated by the COVID-19 epidemic”.
“I’m not just looking at or seizing China,” said a US official. “This provides a real hope for the world.”
German Chancellor Angela Merkel, whose country has the most money in China, called it the “most important thing” needed in Africa.
“We can’t sit back and say that China will do it but with the goal of the G7 to have good intentions for the few countries in the world that are lagging behind… and accept it,” he said.
Commenting from the meeting, Al Jazeera’s editor-in-chief James Bays said the B3W project was something that US officials have been asking for and “clearly aided” by some G7 leaders.
“They say that [B3W] will be the right place in the world and operations, in contrast to the Belt and Road Initiative, “said Bays, who said that while it was a good idea, it came” too late “.
“The Belt and Road Initiative has been in existence for eight years; it has grown so well, it is there to do. Even now this is just a dream, ”he said.
Bays added that funding for the B3W project is still a big question, as “US officials told reporters they think there is a $ 14-trillion difference … from now until 2035.”
Ryan Patel, a senior fellow at the Drucker School of Management at Claremont Graduate University, told Al Jazeera that it would take time for the G7 countries to establish a B3W project, “but I think they can make a difference” at the China Belt and Road Launch.
Patel said China and the G7 countries expect to differentiate themselves from their trading partners, mainly due to the economic crisis of coronavirus. “What China is doing, as well [what] “The other G7 countries are doing it, they are working for independence,” he said.
While the G7 agreed to try to compete with China, there was less agreement on how the military should be.
Canada, the United Kingdom and France have strongly acknowledged Biden’s role, while Germany, Italy and the European Union delayed much of the first meeting on Saturday, according to Biden’s chief of staff, who did not want to be named.
White House officials say Biden wants G7 leaders to speak with one voice against the practice of forcing Chinese Uighur Muslims and other minorities.
About a million people – many of them Uighurs – were detained in so-called training camps in western China’s Xinjiang province in recent years, according to investigators.
Human rights group Amnesty International in a recent report says Xinjiang has become a “dystopian hellscape”.
Chinese authorities have been charged with felony criminal mischief, forced labor, child abuse, and child labor. Beijing has denied allegations that it is committing crimes.
Biden hopes the criticism will be part of a series of talks that will be sold on Sunday after the summit, but other European allies do not want to force a strong separation from Beijing.