G-7 eyes new infrastructure initiative to counter China aid project

Politics Economy

Leaders of the Group of Seven industrialized countries are set on Saturday to unveil a new initiative to provide financing for infrastructure in the developing world as an alternative to Beijing's "Belt and Road" project, according to senior U.S. government officials. An announcement is expected on the "Build Back Better for the World" initiative as the leaders continue their talks in Cornwall, southwestern England, with the second day set to include a session specifically focusing on China, an emerging economic powerhouse and strategic rival of the United States. The first day of the talks ce...

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