Home News Global Economy

US reboots bid at G7 to counter China's Belt and Road programme

Bloomberg
Bloomberg6/27/2022 02:39 PM GMT+08  • 4 min read
US reboots bid at G7 to counter China's Belt and Road programme
The US would contribute US$200 billion in total though it’s unclear what the split would be between private and public sector funding. Photo: Bloomberg
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

President Joe Biden rebooted his effort to counter China’s flagship trade-and-infrastructure initiative after an earlier campaign faltered, enlisting the support of Group of Seven leaders at their summit in Germany.

The Build Back Better World initiative, named after Biden’s domestic spending and climate agenda, struggled to get off the ground because not enough G-7 partners contributed financially when it was unveiled a year ago, according to people familiar with its lack of progress. European officials cited the Biden administration’s inability to get its own ambitious economic legislation through Congress.

“When democracies demonstrate what we can do -- all that we have to offer -- I have no doubt that we’ll win that competition every time,” Biden said during an event on the sidelines of the summit.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now