Anything you can do: G7 rivals China with grand infrastructure plan | Malay Mail

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CARBIS BAY, June 13 — The Group of Seven richest democracies sought on Saturday to counter China’s growing influence by offering developing nations an infrastructure plan that could rival President Xi Jinping’s multi-trillion-dollar Belt and Road initiative. The G7, whose leaders are meeting...

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CARBIS BAY, June 13 — The Group of Seven richest democracies sought on Saturday to counter China’s growing influence by offering developing nations an infrastructure plan that could rival President Xi Jinping’s multi-trillion-dollar Belt and Road initiative.

“This is not just about confronting or taking on China,” a senior official in Biden’s administration said. “But until now we haven’t offered a positive alternative that reflects our values, our standards and our way of doing business.” It was not immediately clear how exactly the plan would work or how much capital it would ultimately allocate.

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

The US official said until now, the West had failed to offer a positive alternative to the “lack of transparency, poor environmental and labour standards, and coercive approach” of the Chinese government that had left many countries worse off. The US official later said the G7 had reached consensus on the need for a shared approach on “non-market economic practices” and on human rights abuses, and to coordinate on supply-chain resilience.

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