SCHLOSS ELMAU, Germany Group of Seven leaders on Sunday pledged 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.
The world’s seven largest, wealthiest liberal democracies today launched the Partnership for Global Infrastructure to mobilize hundreds of billions of dollars.
China's investment scheme involves development and programs in over 100 countries aimed at creating a modern version of the ancient Silk Road trade route from Asia to Europe.