The Bleed Back Better World (B3W) project of the G-7 countries is believed to be a response to China’s ambitious Belt and Road infrastructure initiative. Through this, unbearable loans given by China to poor and small countries have also been criticized.
The Group of Seven (G-7) of the world’s most powerful countries on Saturday unveiled US-led plans in response to China’s infrastructure funding to poor countries. These countries have made a new agreement to prevent future epidemics. This group of elite Westerners has joined the person-to-person meet for the first time since 2019.
The G-7 countries have collectively promised that they will encourage billions of investment in economically backward and middle countries. Their participation will increase in these countries and transparency will be maintained in the schemes.
The Bleed Back Better World (B3W) project of the G-7 countries is believed to be a response to China’s ambitious Belt and Road initiative. Through this, unbearable loans given by China to poor and small countries have also been criticized.
President Joe Biden addressed his allies on the Strategic Competition with Beijing on the second day of the summit in Corbys Bay, according to a statement shared by the White House. Britain’s PM Boris Johnson and Canadian PM Justin Trudeau also shared their views with him.
The world has high hopes from G-7 countries
The G7 countries — Britain, Canada, France, Germany, Italy, Japan and the United States — will formally publish the agreement on Sunday. Along with this, more information on B3W will be revealed in its final release.
G7 leaders are expected to pledge to donate one billion vaccine doses to poor countries this year and next. Although the campaigners agree that the efforts being made to end the Corona crisis are slow. A senior White House official has said it is only about creating a positive, positive alternative vision for the world facing China.