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Thread: G7 aims to raise $600 billion to counter China's Belt and Road

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    G7 aims to raise $600 billion to counter China's Belt and Road

    I like the concept, but I am not convinced they will pull it off in a rational and economically beneficial way.


    G7 aims to raise $600 billion to counter China's Belt and Road

    Group of Seven leaders pledged on Sunday to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries and counter China's older, multitrillion-dollar Belt and Road project.


    U.S. President Joe Biden and other G7 leaders relaunched the newly renamed "Partnership for Global Infrastructure and Investment," at their annual gathering being held this year at Schloss Elmau in southern Germany.


    Biden said the United States would mobilize $200 billion in grants, federal funds and private investment over five years to support projects in low- and middle-income countries that help tackle climate change as well as improve global health, gender equity and digital infrastructure.


    "I want to be clear. This isn't aid or charity. It's an investment that will deliver returns for everyone," Biden said, adding that it would allow countries to "see the concrete benefits of partnering with democracies."


    Biden said hundreds of billions of additional dollars could come from multilateral development banks, development finance institutions, sovereign wealth funds and others.
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    Quote Originally Posted by Peter1469 View Post
    I like the concept, but I am not convinced they will pull it off in a rational and economically beneficial way.


    G7 aims to raise $600 billion to counter China's Belt and Road

    Group of Seven leaders pledged on Sunday to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries and counter China's older, multitrillion-dollar Belt and Road project.


    U.S. President Joe Biden and other G7 leaders relaunched the newly renamed "Partnership for Global Infrastructure and Investment," at their annual gathering being held this year at Schloss Elmau in southern Germany.


    Biden said the United States would mobilize $200 billion in grants, federal funds and private investment over five years to support projects in low- and middle-income countries that help tackle climate change as well as improve global health, gender equity and digital infrastructure.


    "I want to be clear. This isn't aid or charity. It's an investment that will deliver returns for everyone," Biden said, adding that it would allow countries to "see the concrete benefits of partnering with democracies."


    Biden said hundreds of billions of additional dollars could come from multilateral development banks, development finance institutions, sovereign wealth funds and others.
    Politicians always want to spend other peoples' money.

    Instead they should work to resolve the long term weaknesses in their own political-economic systems.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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    Quote Originally Posted by MisterVeritis View Post
    Politicians always want to spend other peoples' money.

    Instead they should work to resolve the long term weaknesses in their own political-economic systems.
    Done right, this sort of investment makes money. A positive return on investment.
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    Quote Originally Posted by Peter1469 View Post
    Done right, this sort of investment makes money. A positive return on investment.
    It is always money laundering. Always.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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    Quote Originally Posted by MisterVeritis View Post
    It is always money laundering. Always.
    Yes, I did mention I doubted it would be done correctly.

    Speaking of money laundering, how about the famous painter Hunter Biden?!
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    They always call handouts "Investments" these days and the tax payer never consulted or the return explained..............

    This is why money is so much better invested using free market incentives.
    My Revenge will be Success! - Donald J Trump

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    \Geopolitical Futures


    The original strategic impetus for China’s Belt and Road Initiative was to secure trade routes not subject to U.S. control in the South China Sea, to build reliable supply chains for natural resources and to ensure Chinese employment. Since then, it has morphed into a nebulous web of unconnected projects across the globe. Many projects have created debt traps, while funding for others never materialized. BRI took a major hit in 2020 with the pandemic, and it is unlikely to recover anytime soon given China’s mounting domestic economic problems.


    The G-7’s Partnership for Global Infrastructure and Investment is a new initiative intended – not solely, but mostly – to serve as the West’s counter to BRI. PGII seeks to support infrastructure development in developing countries, strengthen the global economy and improve supply chain security. Over the next five years, G-7 members hope to mobilize $600 billion in global infrastructure investments, $200 billion of which would come from the U.S. through federal financing and leveraging private sector investment.


    Compared to the BRI, PGII projects are smaller in scope and involve greater reliance on private investment. The G-7 hopes to incorporate capital from additional partners, multilateral development banks, development finance institutions and sovereign wealth funds.
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