14.9 C
Athens
Τρίτη, 5 Νοεμβρίου, 2024

G7 Summit targets China’s Belt and Road Initiative to curb its global influence

Περισσότερα Νέα

- Advertisement -

This year’s G7 Summit held in Germany targeted China’s Belt and Road Initiative (BRI) to confront its global influence. Alina Wang, writing in Vision Times said that on the first day of the summit, US President Joe Biden announced plans to raise USD 600 billion in order to create a new G7 initiative — also known as the Partnership for Global Infrastructure and Investment (PGII) — in an effort to counteract China’s global influence through its Belt and Road Initiative (BRI), as well as a number of recent developments in its naval and military programmes. Biden’s remarks came after US National Security Advisor Jake Sullivan warned in a statement during the summit’s first day that Washington and its Western allies would take aim at a “rapidly developing” China. Sullivan added that the new G7 initiative aimed to curb China’s growing military prowess and business operations via its BRI project, reported Alina.

“(We) do think that there is increasing convergence, both at the G7 and at NATO, around the challenge China poses and around the need — the urgent need for consultation and especially alignment among the world’s leading market democracies to deal with some of those challenges,” Sullivan told reporters on June 27. Sullivan also raised concern over Beijing’s ‘debt-trapping’ diplomacy during his talks with reporters. “We want to stand for a set of principles, rules of the road that are fair and understood and agreed by everybody,” Sullivan said. “And we want to ensure that we’re working with like-minded partners to hold China accountable to adhere to those rules.” The new initiative is a revamping of the Build Back Better World initiative, which was introduced at last year’s G7 summit.

The updated PGII initiative seeks to offer an alternative to infrastructure models that sell “debt traps,” the White House said following Biden’s announcement on June 26. In addition to “bullying” debt-riddled countries such as Sri Lanka and Djibouti to sign up for the BRI under the premise of handsome funding for large infrastructure projects, the Chinese regime has also been gaining favours via the BRI. “Together with G7 partners, we aim to mobilize USD 600 billion by 2027 in global infrastructure investments,” the White House’s statement said. What started out as an ambitious project (BRI) aimed at “facilitating trade and promoting connectivity and cooperation among countries in Eurasia Africa,” has been plagued with financial problems compounded by China’s stagnating economy due to the country’s “zero-COVID” policies, and subsequent decline in consumer spending and major supply chain disruptions, reported Vision Times.

Analysts have warned that Beijing’s project may well be on its deathbed as financial and logistical challenges brought about by the war in Ukraine, rising geopolitical tensions, and sweeping sanctions imposed on Russia — a key trade partner for China — are threatening to completely derail it. This year’s G7 summit has seen European Union (EU) leaders from France, Germany and Italy join forces with usual allies Canada, Japan, the United Kingdom, and the United States in a three-day event starting on Sunday, June 26 and running until Tuesday, June 28. In addition to the regular invitees, a few new countries were also invited to partake in the event this year — with the G7 official website announcing that Argentina, India, Indonesia, Senegal and South Africa were also invited to the summit taking place at the historic Garmisch-Partenkirchen resort located in the Bavarian Alps of Germany.

- Advertisement -

ΑΠΑΝΤΗΣΤΕ

εισάγετε το σχόλιό σας!
παρακαλώ εισάγετε το όνομά σας εδώ

The reCAPTCHA verification period has expired. Please reload the page.

Ροή ειδήσεων

ΣΧΕΤΙΚΑ ΑΡΘΡΑ

Pakistan is third worst nation globally in terms of law and order: World Justice Project index

In the latest World Justice Project (WJP) Rule of Law Index for 2024, Pakistan has been ranked 140th out of 142 countries, making it...

EU raises concern over Chinese aggression in Taiwan

The European Commission in a report raised concern over China's aggression against Taiwan and suggested that the EU step up exchanges with Taipei, Taipei...

Taiwan detects 6 Chinese military aircraft, 9 vessels around territory

Taiwan's Ministry of National Defence (MND) reported Chinese military activity near the island on Tuesday and said that by 6 am (local time), six...

China Tries to Blot out Tibetan Criticism of Mining Firm’s Damage to the Environment 

Chinese censors are trying to prevent people from viewing posts that allege severe environmental damage in Tibet caused by sand mining. A young Tibetan man...

ΔΗΜΟΦΙΛΗ ΑΡΘΡΑ

Aποκλειστικό: Σοκ στην Τουρκία-Εκδήλωση για την συμμαχία Ισραήλ-Κουρδιστάν!-Ομιλητές από Ισραήλ,Τουρκία,Γαλλία & ΗΠΑ!

Δείτε τι αναφέρουν τουρκικά ΜΜΕ: ''Ενώ οι αδιάκοπες σφαγές του Ισραήλ συνεχίζονται στη Λωρίδα της Γάζας και στον Λίβανο, ο σιωνιστικός στρατός έχει βάλει στο...

Αποκλειστικό-Στα ”κάγκελα” οι Τούρκοι: ”Ο Πομπέο έδωσε υποσχέσεις στην Αθήνα-Μήνυμα κατά της Τουρκίας!”

Δείτε τι αναφέρει τουρκικό ΜΜΕ: ''Ο Πομπέο φέρεται να έφτασε μυστικά στην Αθήνα, όπου δείπνησε με τον πρωθυπουργό Κυριάκο Μητσοτάκη σε γνωστό εστιατόριο της περιοχής...

Αποκλειστικό-Τούρκοι: ”Κάνουμε ασκήσεις με τους Αλβανούς & στέλνουμε μήνυμα στην προκλητική Ελλάδα!”-Εμείς επιτρέψαμε στον Ράμα να μιλήσει στην Θεσσαλονίκη!

Δείτε τι αναφέρει τουρκικό ΜΜΕ: ''Η Αλβανία και η Τουρκία αυξάνουν τη στρατιωτική συνεργασία και τη διαλειτουργικότητα με ναυτικές αμφίβιες ασκήσεις σε ένα σαφές...

Αποκλειστικό: Χρηματοδότης του ISIS εξασφάλισε την τουρκική υπηκοότητα με εντολή Ερντογάν: Στέλνει τρομοκράτες στην Ευρώπη μέσω Ελλάδας! – Όλα τα ονόματα – Εικόνες

Απόρρητα έγγραφα που εξασφάλισε το Nordic Monitor αποκάλυψαν ότι ένας χρηματοδότης του Ισλαμικού Κράτους στο Ιράκ και τη Συρία (ISIS), ο οποίος βοηθά επίσης...