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 China’s progress and for that 600,000 million dollars will be allocated (568.117 million euros) . According to the White House, the initiative, baptized as “Collaboration for Global Infrastructure and Investment”aims to promote the development of low- and middle-income countries, strengthen the global economy and supply chains.

This project was announced at a summit in Elmau (Germany) of the seven most developed countries in the world (US, Germany, UK, France, Italy, Canada and Japan) and aims to mobilize hundreds of billions of dollars to create sustainable infrastructure in developing partner countries. US President Joe Biden announced that your country will allocate 200,000 million dollars for this initiative for five years, through funding from the federal government in collaboration with the private sector.

Among the pillars of the plan are combating the climate crisis and enhancing energy security by investing in low-emission infrastructure, battery manufacturing plant and clean energy development. In the field of technology, this initiative considers the development and expansion of communication and information technology, in collaboration with “trusted provider” providing 5G and 6G, The White House said in a statement.

They are also contemplating investment in health systems, vaccines and medical equipment, as well as in surveillance and detection of new diseases, including “safe laboratories” and prevention of future pandemics. Within the framework of this plan, the US Government demonstrated that US telecommunications company SubCom won a $600 million tender for making submarine cables connecting Southeast Asia with the Middle East and Western Europe.

This cable will have a length of 17,000 kilometers and will provide high-speed connections from Singapore to France, through Egypt and the Horn of Africa. The US also wants to mobilize $335 million in investment to provide internet and financial technology in countries in Africa, Asia and Latin America.

This macro infrastructure plan was proposed by Biden at last year’s G7 summit, which took place in the UK. Plan want to be an alternative to China’s “One Belt, One Road” project (One route, one belt), which aims to revitalize what is known as the Silk Road by modernizing infrastructure and telecommunications to improve connectivity between Asia and Europe.

Roderick Gilbert

"Entrepreneur. Internet fanatic. Certified zombie scholar. Friendly troublemaker. Bacon expert."

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