G7 adopts spending plan to rival China's influence

Published: 12 Jun 2021

Online Desk

G7 leaders seeking to rival China have adopted a plan to support lower- and middle-income countries in building better infrastructure.

President Joe Biden said he wanted the US-backed Build Back Better World (B3W) plan to be a higher-quality alternative to a similar Chinese programme, reports BBC.

China's Belt and Road Initiative (BRI) has helped finance trains, roads, and ports in many countries.

But it has been criticised for saddling some with debt.

In a statement at their summit in the English county of Cornwall, the G7 leaders said they would offer a "values-driven, high-standard and transparent" partnership.

It is not yet clear how the G7 plan will be financed. The US has been particularly critical of China's so-called "debt diplomacy".

The G7, the world's seven wealthiest democracies, are also expected to commit to a new plan to stop future pandemics.

The measures include cutting the time needed to develop vaccines and treatments for Covid-19 to under 100 days.

UK Prime Minister Boris Johnson is hosting the three-day gathering at the seaside resort of Carbis Bay in Cornwall.

Subject : G7 China

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