G7 Aims to Raise $600 Billion to Counter Communist China’s BRI

On June 26th, U.S. President Joe Biden and leaders from other G7 nations formally launched the Partnership for Global Infrastructure and Investment (PGII), a move seen as counter to Communist China’s Belt and Road Initiative.

 According to the White House statement, the launch of PGII is “to mobilize hundreds of billions of dollars and deliver quality, sustainable infrastructure that makes a difference in people’s lives around the world, strengthens and diversifies our supply chains.”

 U.S. president announced the country aims to mobilize $200 billion for PGII over the next 5 years through public and private funds in order to develop infrastructure in developing countries.

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Translator: OXV Translation Team – Shugen
Design&editor: HBamboo(昆仑竹)

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