Plan would counter China’s Belt and Road Initiative.
President Biden is meeting with the G7 nations in Germany. He announced the launch of a partnership for global infrastructure, stating, “I’m proud to announce the United States will mobilize $200 billion in public and private capital over the next five years for that partnership,” he said. “We’re here today because we’re making this commitment together as the G7 in coordination with one another and to maximize the impact of our work. Collectively we aim to mobilize nearly $600 billion from the G7 by 2027.”
The initiative is a new version of the president’s “Build back Better World” which he revealed at last year’s summit. “I want to be clear, this isn’t aid or charity,” he said. “It’s 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 and it’s a chance for us to share our positive vision for the future, and let communities around the world see themselves and see for themselves the concrete benefits of meeting with democracies.”
For a decade, China has been investing heavily in building up the infrastructure of developing nations in Africa and Asia, with Chinese banks funding everything from new seaports to 5G wireless networks through its Belt and Road Initiative.
The Group of Seven (G7) is a governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. In addition, the European Union is a “non-enumerated member.”
As the Lord Leads, Pray with Us…
- For the heads of the G7 nations as they partner on global infrastructure.
- For the Lord’s plans to be accomplished in the upcoming NATO summit.
- For the president and his advisors as they craft foreign and domestic policies.
Sources: One America News, NBC News, Wikipedia
