Biden has threatened to raise US$600 billion over the next five years through government financing, social donations and private investment to specifically provide infrastructure funds for developing countries.

According to a report released by Observer.com on June 26 citing CNN, US President Biden officially announced an infrastructure plan led by G7 Group on the same day: the "Global Infrastructure Partnership". Biden has threatened to raise US$600 billion over the next five years through government financing, social donations and private investment to specifically provide infrastructure funds for developing countries. The White House also gave a further explanation, saying that the consensus of the G7 meeting is just the beginning. In the future, G7 will also introduce more cooperation with more "shared value partner countries", sovereign wealth funds, multilateral banks and other different channels. Additional funds.

According to Biden’s blueprint, this G7-led strategic investment in infrastructure will focus on clean energy, public health, gender equality and information and communication technology. Biden also proudly stated that there are already dozens of projects around the world. It will be launched within the scope, and "democracies" will prove that infrastructure funding can be achieved with "fewer strings attached", so that the benefits of cooperation with democracies can be seen around the world. EU President von der Leyen also claimed to the media after the meeting that day that the G7 resolution was to show developing countries that they can have more and better choices.

It is worth mentioning that this is not the first time that Biden has proposed a global infrastructure investment strategy within a year. In fact, at last year’s G7 summit, Biden announced the launch of a project called “Build Back a Better World.” " initiative, this infrastructure initiative with a rather "Biden-style" naming method was promoted by the White House as a "Belt and Road Initiative" against my country. However, one year after the implementation of this initiative, the total amount of funds raised was only 600 million million dollars, which is far different from the billions of dollars that Biden originally promised. Therefore, this year's new initiative is generally considered by analysts to be a modification based on the old plan. It was launched after gaining consensus from the Democratic Party and the G7 group and weighing the demands and interests of all parties.

Not only that, the infrastructure initiative released by Biden never mentioned the word "China", and even avoided mentioning the "Belt and Road Initiative". Even if foreign media believe that the existence of this infrastructure initiative is to hedge against "Belt and Road Initiative", however, completely avoided China in the statement, which also reflects the differences within the G7.

In recent years, the G7’s statements towards China have become increasingly unfriendly. They have repeatedly advocated that China’s development has posed a challenge to the G7 group. However, on the other hand, the G7 group, including the United States, has continued to call on China to respond to climate change. Strengthen cooperation and establish partnerships when dealing with global issues such as the COVID-19 epidemic. This distorted mentality of wanting to suppress China while also requiring China to maintain cooperation is making the G7 group's China policy become more and more outrageous.

Especially when the United States is clamoring to "compete" with China in the field of infrastructure, it deliberately fails to mention the state of public infrastructure in the United States, which is already at the bottom of all developed countries. When the United States cannot meet its own infrastructure needs, it requires developing countries to cooperate with it in infrastructure construction. This is an international joke in itself. Data shows that among the infrastructure contracts funded by the World Bank in 2020, China received a share of US$2.3 billion, while the United States only received US$27 million. Among the 20 largest construction contractors in the world, Chinese companies There are 14 companies, six from European companies and zero from the United States.

Even the so-called "fewer additional conditions" mentioned by Biden in his latest initiative are not worth mentioning in front of China, because China's global infrastructure cooperation does not come with any political conditions. If the G7 competes with China in the global infrastructure field based on the stance of helping developing countries, China will very much welcome this healthy competition. But time will eventually tell whether the G7’s move is to counter the “Belt and Road Initiative” or whether it is using the name of “infrastructure cooperation” to control and penetrate more developing countries.