Enough with America and its allies – the joint party project will stop China’s push

According to the study on which the plans are based, low- and middle-income countries will need at least $1,500 billion annually to achieve the so-called United Nations Sustainable Development Goals.

Asia, Africa and South America New roads, railways and ports are needed to enable countries in the region to better integrate into the global economyThere is not enough money to introduce climate-friendly technologies or develop digital infrastructure.

However, traditional institutions of international development cooperation, such as the World Bank, are “too cumbersome”, so countries that need external support turn to partners that provide “integrated solutions”.

These solutions, in turn, come with “opaque conditions”., does not guarantee compliance with international standards, is “financially unsustainable, increases public debt and, in part, conflicts with the long-term interests of the citizens of the host countries,” quoting Handelsblatt from the document emphasizing that Although China is not mentioned, they are clearly referring to the emerging Asian superpower.

They also cited a confidential analysis by the German Foreign Ministry, according to him China seeks to build a “central parallel structure” instead of strengthening the traditional institutional system of the international communityAnd the vehicle for this is the Belt and Road Initiative, through which it expands its political influence and shapes global standards on the basis of its own “ideas.”

This will be offset by a program called Build Back Better World (B3W), which will be discussed at the G7 summit in England from June 11.

according to plans The program will focus on adopting climate-friendly technologies, developing the health system and promoting digitization. Eligibility requirements include ensuring gender equality, enforcing international labor and environmental standards and regulations, and transparency to prevent corruption.

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Handelsblatt added that the G7, made up of the United States, France, Japan, Canada, Britain, Germany and Italy, in which the European Union participates as an institution, “highlights the contradiction” with the Belt and Road Initiative. China does not care much about the environmental and social impacts of investments funded through the Belt and Road Initiative, and bribery, exploitation and forced labor are common in projects.

Therefore, resistance to the Belt and Road Initiative does not only grow between weeks, Handelsblatt wrote, noting that the British presidency, which hosted the summit, also invited leaders from Australia, India, South Africa and South Korea to the meeting, and these countries are also scheduled to participate in the B3W initiative. .

Cover image source: Stefan Rousseau-WPA Pool / Getty Images

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