G7 launches infrastructure plan to counter China’s progress

G7 launches infrastructure plan to counter China’s progress

The world’s seven major economic powers will launch a major infrastructure plan, promoted by the United States, To counter the progress of China and for her $600,000 million will be allocated (568,117 million euros) . According to the White House, the initiative was baptized in the name of Collaboration for Global Infrastructure and Investmentaims to promote the development of low- and middle-income countries, and strengthen the global economy and supply chain.

The project was announced at the Elmau Summit (Germany) of the seven most industrialized countries in the world (USA, Germany, UK, France, Italy, Canada and Japan) and aims to Raising hundreds of billions of dollars To create sustainable infrastructure in partner developing countries. US President Joe Biden announced that Your country will allocate $200,000 million for this initiative Over five years, through funds from the federal government in cooperation with the private sector.

One of the pillars of the plan is to combat the climate crisis and improve energy security by investing in infrastructure with low emissions, Battery factories and clean energy development. In the technological field, the initiative is studying the development and expansion of communications and information technology, working with ‘Trustworthy service providers’ providing 5G and 6G networks, The White House said in a statement.

They also think Investments in health systems, vaccines and medical equipment, as well as in the monitoring and detection of new diseases, including “safe laboratories” and the prevention of future epidemics. As part of this plan, the US government indicated that the US telecommunications company SubCom won a tender worth $600 million. submarine cable construction Connecting Southeast Asia with the Middle East and Western Europe.

The length of this cable will be 17,000 km and will provide a high-speed connection From Singapore to France through Egypt and the Horn of Africa. The United States also wants to mobilize $335 million in investment to provide Internet and financial technology in countries in Africa, Asia and Latin America.

Biden proposed this macro infrastructure plan at the G7 summit last year, which was held in the United Kingdom. the plan He wants to be an alternative to the Chinese “One Belt, One Road” project. (One Track, One Belt), which aims to revitalize the so-called Silk Road by modernizing infrastructure and telecommunications to improve connectivity between Asia and Europe.

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