Biden in India for G20 Summit with Global Leaders.
NEW DELHI, India—President Joe Biden arrived in India’s capital, New Delhi, on Friday at 6:46 p.m. local time, ready to attend the highly anticipated Group of 20 (G20) meeting. This gathering will bring together the leaders of the world’s top economies in New Delhi this weekend.
But this isn’t just any ordinary summit for President Biden. He sees it as an opportunity to showcase the strength of the U.S. economy and highlight the challenges faced by China’s growing economy. By doing so, he aims to position the United States as a more reliable partner on the global stage.
President Biden’s visit to Asia couldn’t come at a more crucial time. With rising geopolitical tensions between the United States and China, Washington is actively seeking to strengthen alliances and partnerships with countries, especially those in the Global South.
His main focus at this critical meeting is to propose strengthening multilateral development banks, such as the World Bank and the International Monetary Fund (IMF), as a viable alternative to China’s “coercive” lending program. The White House believes that low- and middle-income countries should have access to high-standard, non-coercive lending options.
China, although the world’s largest creditor, has faced criticism for its lack of transparency in its aggressive lending strategy under the Belt and Road Initiative. The United States aims to address this issue and rally other countries against China’s controversial practices.
However, Chinese leader Xi Jinping will not be attending the summit in New Delhi. Premier Li Qiang will represent Beijing instead. Without Mr. Xi’s presence, it remains to be seen whether President Biden can garner support from other countries against China’s lending practices.
Treasury Secretary Janet Yellen has expressed the administration’s request for other G20 partners to strengthen the financial capacity of multilateral development banks.
“We have asked other countries to join us in this initiative, to the extent that they are able to, and we are hopeful that other countries, depending on their financial capacity, will join us,” Ms. Yellen said at a press briefing on the sidelines of the G20 summit in India.
Bilateral Meetings
Soon after his arrival, President Biden held a bilateral meeting with Indian Prime Minister Narendra Modi. They discussed various issues related to trade, supply chains, and critical and emerging technologies.
The Biden administration sees India as a crucial regional manufacturing base for companies looking to move away from China. Therefore, shifting supply chains to India was a major topic of discussion during the meeting.
Both leaders are committed to addressing several bilateral issues, including the production of GE jet engines in India and the procurement of MQ-9 Reapers drones.
“We will see meaningful progress on a number of issues, including the GE jet engine issue, the MQ-9 Reapers, on 5G/6G, on collaboration on critical and emerging technologies, and progress also in the civil nuclear area as well,” National Security Advisor Jake Sullivan told reporters on board Air Force One.
The G20 members collectively account for approximately 85 percent of global gross domestic product. This group includes the Group of Seven (G7) countries, the European Union, and 12 other countries, such as China, Russia, and Saudi Arabia.
During his time in India, President Biden is expected to meet with several leaders on the sidelines of the summit, including Saudi Crown Prince Mohammed bin Salman.
After the conclusion of the summit, Biden will travel to Vietnam to meet with Communist Party General Secretary Nguyen Phu Trong and other top Vietnamese leaders in Hanoi. This visit is expected to solidify an improved partnership between the two countries, sending a strong message to China.
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