Sunday, June 26, 2022

G7 Leaders Unveil $600 Billion Infrastructure Plan To Tackle Chinese Influence

 

Daily Mail: G7 leaders unveil $600 billion infrastructure plan to tackle Chinese influence: President Biden promises $200 billion in funding for solar farms, vaccine plants and communications links around the world 

* G7 leaders unveiled a $600 billion plan to take on China's massive infrastructure projects at their summit in Germany on Sunday afternoon 

* It comes amid growing alarm that Beijing is winning influence by building roads, bridges and airports throughout the developing world 

* The White House said Biden is committing $200 billion for the initiative 

* They include solar projects in Angola and a vaccine plant in Senegal 

* Officials said they offered a better deal than China's debt-laden projects 

The White House announced plans on Sunday to raise $200 billion for solar projects in Angola, an undersea telecommunications cable linking the Far East with France via Egypt, and nuclear power production in Romania as part of a huge G7 infrastructure plan designed to compete with China's massive Belt and Road initiative. 

The proposals were unveiled on the first day of the G7 summit in Germany, where world leaders met to discuss the global economy and Russia's war in Ukraine. 

In all, G7 nations will commit $600 billion to the effort over the next five years, President Joe Biden announced, calling the investment a humanitarian, economic and security concern.  

Read more .... 

WNU Editor: The U.S. has problems with its infrastructure. Canada (where I live) included. But they want spend hundreds of billions elsewhere?!?!?!? 

G7 Leaders Unveil $600 Billion Infrastructure Plan To Tackle Chinese Influence  

Biden urges Western unity on Ukraine amid war fatigue -- AP  

G7 aims to raise $600 billion to counter China's Belt and Road -- Reuters 

G7 leaders launch infrastructure fund to counter Chinese influence -- DW 

G-7 unveils $600B plan to combat China’s global reach -- Politico  

Biden commits $200 billion to global infrastructure plan meant to counter China -- The Hill  

U.S. to contribute $200 billion to G7 infrastructure partnership -- Axios  

G7 relaunches funding programme for developing countries under new name -- The Guardian

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