Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen correspondent: 7 martyrs and wounded after an Israeli drone bombed a group of Palestinians while they were preparing a water well at the end of Al-Jalaa Street, north of Gaza.
Al Mayadeen correspondent in Gaza: 122 martyrs as a result of Israeli raids on the Gaza Strip since dawn today.
Senior Palestinian Resistance official to Al Mayadeen: During yesterday's round of negotiations in Doha, "Israel" insisted on releasing captives as part of a transitional phase, while Hamas adhered to comprehensive package
Iranian Foreign Minister Abbas Araghchi: A date has been set for the next round of indirect talks with the US, and it will be announced soon
Lebanese Ministry of Health: Two people, including a soldier, were injured in an Israeli airstrike near the town of Beit Yahoun, Bint Jbeil District, in South Lebanon
Araghchi: Iran is committed to diplomacy and expects the lifting of unjust and unilateral sanctions that directly target its people
Araghchi: We want a fair and balanced agreement reached within the framework of the Nuclear Non-Proliferation Treaty with full respect for Iran's nuclear rights
Araghchi: Iran has always sought to alleviate legitimate international concerns about its nuclear program through transparency
Araghchi: Iran is committed to the principle of not producing or deploying weapons of mass destruction
Araghchi: Iran is committed to the Nuclear Non-Proliferation Treaty and has never sought to possess nuclear weapons based on its principles

G7 touts $600 bn global infrastructure plan to rival China

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Jun 2022 23:16
  • 1 Shares
2 Min Read

On Sunday, the G7 group announced an effort to compete with China's formidable Belt and Road Initiative.

  • x
  • G7 touts $600 bn global infrastructure plan to rival China.
    The Partnership for Global Infrastructure and Investment aims to fill a massive gap 

The G7 group announced on Sunday a $600 billion effort to compete with China's formidable Belt and Road Initiative by funding global infrastructure projects in developing countries.
 
The Partnership for Global Infrastructure and Investment, unveiled with fanfare by US President Joe Biden and G7 allies from Canada, Germany, Italy, Japan, and the European Union, aims to fill a massive gap left as China uses its economic power to extend the circle of its international relations across the globe.
 
Biden stated that the United States would contribute $200 billion, with the rest of the G7 contributing another $400 billion by 2027. According to Biden, funding projects that China currently dominates, such as roads and harbors in far-flung corners of the world, is not "aid or charity," he claimed.

Related News

Nuclear deal with US possible if intimidation tactics stop: Pezeshkian

Iran: Uranium enrichment will continue despite US demands

Read next: Biden to head to the G7 summit in Germany: WH
 
He claimed that the plan has "geostrategic thinking," saying such projects "deliver returns for everyone, including the people of all our nations."
 
The role of China's "democratic" rivals around the world is "a chance for us to share our positive vision for the future," he said, and for other countries to "see for themselves the concrete benefits of partnering with democracies."
 
Ursula von der Leyen, President of the European Commission, agreed with the US president, saying, "It is up to us to give the world a positive, powerful investment impulse, to show our partners in the developing world that they have a choice."

Read next: Argentina officially joins BRI boosting China-South America cooperation
 
Although China was not mentioned by name, the rivalry loomed large over the leaders' presentation, which was a relaunch of Biden's original proposal for a Western infrastructure fund at last year's G7 summit in Britain.
 
Unlike China's state-run BRI initiative, proposed G7 funding is contingent on private companies' willingness to commit to large investments and is thus not guaranteed. However, according to US officials, this is a good thing.
 
According to US officials, recipient countries will be able to avoid the alleged "debt traps" and other "Chinese tactics" in this capitalist vs. communist scenario.

  • United States
  • Japan
  • G7
  • Canada
  • Italy
  • Germany
  • China
  • European Union

Most Read

Gaza and the logic of necropolitics: Sovereignty measured by killing

Gaza and the logic of necropolitics: Sovereignty measured by killing

  • Politics
  • 15 May 2025
Two F-35 jets arrive at it's new operational base Wednesday, Sept. 2, 2015, at Hill Air Force Base, in northern Utah. (AP)

F-35 near-misses over Yemen signal new risks for 'Israel': Forbes

  • Politics
  • 14 May 2025
Abu Obaida

Abu Obeida posts shortly after Israeli reports about his assassination

  • Palestine
  • 15 May 2025
YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • Today

Coverage

All
Gaza prevails against genocide

Read Next

All
A Microsoft sign and logo are pictured at the company's headquarters, Friday, April 4, 2025, in Redmond, Wash. (AP)
Technology

Microsoft admits supplying AI to 'Israel' amid Gaza carnage

Israeli occupation’s tanks parked in a staging area near the border with Gaza, Friday, May 16, 2025. (AP)
Politics

'Israel' launches multi-axis assault in Gaza under 'Gideon’s Chariots'

People stand at the train ticket counter of NJ Transit at Penn Station, amid a strike by New Jersey Transit train engineers, in New York, Friday, May 16, 2025. (AP)
Economy

Commuters stranded amid first New Jersey railway strike in 40 years

Trump's tax bill stalls as Republican opposition demands deeper cuts
US & Canada

Trump's tax bill stalls as Republican opposition demands deeper cuts

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS