Recently, according to White House national security adviser Sullivan, President Biden will announce at the G7 summit at the end of the month that he will invite G7 members to launch a global infrastructure initiative to counter the Chinese Communist Party’s (CCP) so-called “One Belt, One Road” plan, especially its influence in the Indo-Pacific region.
The G7 summit is expected to be held in Germany from the 26th to the 28th. It is reported that the United States and G7 member states are expected to invest hundreds of billions of dollars, which will create huge dividends for the entire Indo-Pacific region.
Sullivan said that this work will rely on funds from private companies and moderate budget allocations from the U.S. Government. This move will become one of the hallmarks of the Biden administration’s foreign policy. The United States wants to build a long-term economic partnership in Southeast Asia, introduce tens of billions of dollars in investment, and help Southeast Asian countries promote clean energy, high-tech, and strengthen supply chains.
The CCP’s “Belt and Road” plan was proposed by Xi Jinping in 2013. It aims to expand global trade and influence through investment in overseas infrastructure and control the “Belt and Road” cooperative countries. At present, 149 countries around the world have joined. This time, the U.S. and G7 members are promoting global infrastructure to provide an alternative to Communist China for the “Belt and Road” partner countries.