Leaders of the Group of Seven (G7) began three days of talks yesterday in Germany’s Bavarian Alps. One of the first announcements was a 600 billion dollar infrastructure initiative to help developing countries tackle climate change. The initiative is seen as the West’s response to China’s massive Belt and Road Initiative (BRI). US President Joe Biden said, this is not aid or charity but an investment that will deliver returns for everyone, including the American people and the people of all our nations. It will boost all of our economies, he said. China has been accused of trapping low-income countries into unaffordable debts to be part of its trillion-dollar BRI push. EU Commission chief Ursula von der Leyen said G7 is offering sustainable, quality infrastructure and will be listening closely to the recipient countries.
