G7 rivals China with grand infrastructure plan

G7 rivals China with grand infrastructure plan

The Group of Seven richest democracies sought on Saturday to counter  China's growing influence by offering developing nations an  infrastructure plan that could rival President Xi Jinping's  multi-trillion-dollar Belt and Road initiative. The G7, whose  leaders are meeting in southwestern England, has been searching for a  coherent response to the growing assertiveness of Xi after China's  surging economic and military rise over the past 40 years. U.S.  President Joe Biden and other G7 leaders hope their plan, known as the  Build Back Better World (B3W) initiative, will provide a transparent  infrastructure partnership to help narrow the $40 trillion needed by  developing nations by 2035, the White House said.