{"id":1531054,"date":"2022-06-28T15:12:51","date_gmt":"2022-06-28T19:12:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1531054"},"modified":"2022-06-28T15:12:57","modified_gmt":"2022-06-28T19:12:57","slug":"g-7-unveils-600-billion-global-infrastructure-plan-to-counter-chinas-debt-trap","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/g-7-unveils-600-billion-global-infrastructure-plan-to-counter-chinas-debt-trap\/","title":{"rendered":"G-7 Unveils $600 Billion Global Infrastructure Plan to Counter China\u2019s \u2018Debt Trap\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/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-unveils-600-billion-global-infrastructure-plan-to-counter-chinas-debt-trap%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=1531054&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>The Group of Seven (G-7) nations plan to raise $600 billion over the next five years for a global infrastructure program that will serve as a \u201cpositive alternative\u201d to models that sell \u201cdebt traps.\u201d<\/p>\n<p>G-7 leaders from the United States, Canada, Germany, Italy, Japan, and the European Union unveiled the Partnership for Global Infrastructure and Investment (PGII) at a summit in Bavaria, Germany, on Sunday.<\/p>\n<p>The White House said that Washington alone would mobilize $200 billion for the PGII \u201cthrough grants, federal financing, and leveraging private sector investments\u201d by 2027, and \u201cthis will only be the beginning.\u201d<\/p>\n<p>\u201c<a href=\"https:\/\/www.theepochtimes.com\/t-the-united-states\">The United States<\/a> and its G-7 partners will seek to mobilize additional capital from other like-minded partners, multilateral development banks, development finance institutions, sovereign wealth funds, and more,\u201d it said in a <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><\/p>\n<p>Europe has <a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/STATEMENT_22_4122\">pledged<\/a> to mobilize 300 billion Euros ($316 billion) by 2027, while <a href=\"https:\/\/www3.nhk.or.jp\/nhkworld\/en\/news\/20220627_06\/\">Japan said<\/a> it aims to allocate $65 billion for the PGII.<\/p>\n<p>U.S. President Joe Biden said the investments would be made toward four critical areas: \u201chealth and health security, digital connectivity, gender equality and equity, climate and energy security.\u201d<\/p>\n<p>\u201cI want to be clear: This isn\u2019t aid or charity; it\u2019s an investment that will deliver returns for everyone, including the American people and the people of all our nations,\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 at the summit.<\/a><\/p>\n<p>\u201cIt\u2019ll boost all of our economies, and it\u2019s a chance for us to share our positive vision for the future and let communities around the world see for themselves the concrete benefits of partnering with democracies,\u201d he added.<\/p>\n<p> <a href=\"https:\/\/www.theepochtimes.com\/t-china\">China<\/a>\u2019s Belt and Road Initiative <\/p>\n<p>The PGII was launched a year after <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2021\/06\/13\/remarks-by-president-biden-in-press-conference-2\/\">Biden introduced<\/a> the Build Back Better World initiative at the 2021 G-7 summit, at which he said the program would reflect the values of democracies rather than \u201cautocratic lack of values.\u201d<\/p>\n<p>\u201cWhat\u2019s happening is<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Group of Seven (G-7) nations plan to raise $600 billion over the next five years for a global infrastructure program that will serve as a \u201cpositive alternative\u201d to models that sell \u201cdebt traps.\u201d G-7 leaders from the United States, Canada, Germany, Italy, Japan, and the European Union unveiled the Partnership for Global Infrastructure and [\u2026]<\/p>\n","protected":false},"author":299,"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-1531054","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\/1531054","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\/299"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1531054"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1531054\/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=1531054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1531054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1531054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}