G7 comes with large infrastructure project, counterpart of Chinese Silk Road

G7 countries have agreed on a major project to help developing countries with their infrastructure. The agreement came on the second day of the summit of the seven richest democracies in Cornwall, UK. It is not yet agreed to appeal to China for human rights violations.

Details of the infrastructure plan are still unclear. This is not yet known how much money is involved and how countries will be helped in concrete terms. It is clear that private sector money is being sought for investments in climate, healthcare, digital technology and (gender) equality projects.

An agreement was insisted by U.S. President Biden. He would like the G7 countries to counterbalance Chinas growing economic power. Forty years ago, the Chinese economy was smaller than Italys. Meanwhile, the country is the second economic power in the world, with a leading position in many new technologies.

New Silk Road

China started a global infrastructure project called the New Silk Road in 2013. Since then, agreements have been concluded with more than 100 countries around the world for the construction of ports, railways, airports and highways, among others.

A US official says that the infrastructure plan is not just meant to distract China. โ€œHowever, we havent had a positive alternative so far based on our standards and values and our way of doing business.โ€

Uyghruds

The G7 countries are not yet in agreement on condemning forced labour by the Uygur in China. President Biden also calls for a strong signal to be sent in the final statement tomorrow on the last day of the summit.

Today, the issue has been discussed bilaterally in many discussions, but no agreement has been reached on a joint text yet. The United Kingdom, France and Canada are reportedly supporting the US and are willing to send a strong signal. Germany, Italy and the European Union are for more caution, a US official says.