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G-7 wants to rival China's Belt and Road plan — but it won't stop Beijing, expert says


G-7 wants to rival China’s Belt and Road plan but it won t stop Beijing, expert says
CNBC
10 hrs ago
Yen Nee Lee
The Group of Seven wealthy nations have agreed to set up an infrastructure plan to compete with China s massive Belt and Road Initiative.
The plan is not intended to stop the Belt and Road Initiative, said Matthew Goodman of Washington D.C.-based think tank Center for Strategic and International Studies.
Still, it could make a significant contribution in closing the world s infrastructure gap by channeling investments into developing countries, said Goodman.
G-7 infrastructure plan is an alternative to China s Belt and Road Initiative, says expert ....

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Biden's economic plans will help the U.S. compete with China, says former Treasury secretary


Biden’s economic plans will help the U.S. compete with China, says former Treasury secretary
President Joe Biden’s plans to bolster the U.S. economy will help the country compete with China’s massive Belt and Road Initiative, former Treasury Secretary Jacob Lew said on Wednesday.
The Belt and Road Initiative is China’s ambitious program to build physical and digital infrastructure that connects hundreds of countries from Asia to the Middle East, Africa and Europe. Many critics consider it Chinese President Xi Jinping’s signature foreign policy to expand his country’s global influence.
Lew, who was Treasury secretary from 2013 to 2017 under former President Barack Obama, pointed out that China’s Belt and Road Initiative has gained traction in the last few years. At the same time, the U.S. under former President Donald Trump retreated from the world stage, he said. ....

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Caught in a vaccine no man's land, these European countries are scrambling for Chinese and Russian shots


Caught in a vaccine no man’s land, these European countries are scrambling for Chinese and Russian shots
As the United Kingdom celebrates giving at least one dose of the coronavirus vaccine to 15 million people and the EU surpasses 23 million doses distributed, several other European countries have not yet managed to put a single shot in arms.
Kosovo, Montenegro, and Bosnia and Herzegovina are still waiting to receive their first vaccine shipments, while rollouts in Albania and Northern Macedonia have so far been limited to a few hundred people.
The Western Balkan countries are key allies and possible future members of the European Union, but they have been left out of the bloc’s immediate vaccine supply plans. ....

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