{"id":1530825,"date":"2022-06-28T15:00:40","date_gmt":"2022-06-28T19:00:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1530825"},"modified":"2022-06-28T15:00:49","modified_gmt":"2022-06-28T19:00:49","slug":"g-7-leaders-announce-600-billion-global-infrastructure-program-to-take-on-beijings-debt-trap-diplomacy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/g-7-leaders-announce-600-billion-global-infrastructure-program-to-take-on-beijings-debt-trap-diplomacy\/","title":{"rendered":"G-7 Leaders Announce $600 Billion Global Infrastructure Program to Take on Beijing\u2019s Debt Trap Diplomacy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fg-7-leaders-announce-600-billion-global-infrastructure-program-to-take-on-beijings-debt-trap-diplomacy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1530825&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Leaders from the Group of Seven (G-7) representing the world\u2019s wealthiest democracies announced on June 26 that $600 billion would be allocated for global infrastructure programs to counter the Chinese regime\u2019s expansion through its financing of enormous loans to poor countries for building infrastructure.<\/p>\n<p>U.S. President Joe Biden and other G-7 leaders pledged to raise $600 billion by 2027 for the plan, known as the Partnership for Global Infrastructure and Investment, aimed at supporting the infrastructure needs of low- and middle-income countries.<\/p>\n<p>\u201cI want to be clear, this isn\u2019t aid or charity,\u201d Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/06\/26\/remarks-by-president-biden-at-launch-of-the-partnership-for-global-infrastructure-and-investment\/\">said<\/a> as he unveiled the project following the meeting at the beginning of the three-day summit in Germany. \u201cIt\u2019s an investment that will deliver returns for everyone, including the American people and the people of all our nations.\u201d<\/p>\n<p>The United States will mobilize $200 billion for the partnership over the next five years \u201cthrough grants, federal financing, and leveraging private sector investments,\u201d according to the White House.<\/p>\n<p>Europe has announced that it will mobilize 300 billion euros over the same period.<\/p>\n<p>\u201cThis will only be the beginning,\u201d the White House said in a separate <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/06\/26\/fact-sheet-president-biden-and-g7-leaders-formally-launch-the-partnership-for-global-infrastructure-and-investment\/\">statement<\/a>. \u201cThe United States and its <a href=\"https:\/\/www.theepochtimes.com\/t-g7\">G7<\/a> partners will seek to mobilize additional capital from other like-minded partners, multilateral development banks, development finance institutions, sovereign wealth funds, and more.\u201d<\/p>\n<p> \u2018Debt-Trap Diplomacy\u2019 <\/p>\n<p>The infrastructure plan is seen as a rebranding of the Build Back Better World initiative, also known as B3W, which was first <a href=\"https:\/\/www.theepochtimes.com\/g-7-leaders-to-take-on-beijings-debt-trap-diplomacy_3856990.html\">unveiled<\/a> at last year\u2019s G-7 summit in the UK as a response to the Chinese regime\u2019s multitrillion-dollar Belt and Road (BRI) project.<\/p>\n<p>Launched by Chinese leader Xi Jinping in 2013, the BRI reached its peak in expanding the regime\u2019s influence in 2015 through global trade links and building\u00a0railways, ports, highways, and other infrastructure projects. More than 140 countries have joined the<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leaders from the Group of Seven (G-7) representing the world\u2019s wealthiest democracies announced on June 26 that $600 billion would be allocated for global infrastructure programs to counter the Chinese regime\u2019s expansion through its financing of enormous loans to poor countries for building infrastructure. U.S. President Joe Biden and other G-7 leaders pledged to raise [\u2026]<\/p>\n","protected":false},"author":342,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1530825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1530825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/342"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1530825"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1530825\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1530825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1530825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1530825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}