According to a recent Russian media report on June 13, the Group of Seven (G7) intends to launch a global infrastructure plan for developing countries. The plan called "Rebuilding a Better World" aims to "show America's overseas competitiveness." Earlier, the White House owner Joe Biden announced this plan similar to China's Belt and Road Initiative. Experts pointed out that the new plan of the Group of Seven countries is precisely to curb the rising trend of China's global economic influence. However, analysts believe that Washington may not be able to achieve this goal, because Beijing has long become one of the world's major economies.

According to the report, the leaders of the Group of Seven countries agreed to launch a new global infrastructure plan for developing countries. The White House website released the news. The plan, called "Rebuilding a Better World", "is designed to meet the infrastructure needs of low- and middle-income countries with a total value of more than US$40 trillion."

According to the report, from the perspective of political scientists, the new US-led plan is largely to compete with China's Belt and Road Initiative. Earlier, Biden announced that he would create a similar plan.

Some G7 leaders, including Italian Prime Minister Mario Draghi, have called on the White House not to engage in competition with Beijing to the extent that it interferes with important cooperation (such as tackling the climate crisis).

Experts believe that it is no accident that the president of the United States named his plan after "rebuilding a better world." Alexander Belichuk, a professor in the Department of World and National Economics at the All-Russian Institute of Foreign Trade, pointed out that the White House tried to conceal the true purpose of the new plan in this way.

Belchuk believes: "The focus is not to help restore the economy, but to fight against China. The United States tries to hinder China's access to advanced technology, deliberately freezing the Belt and Road Initiative that determines China's economic development to a certain extent."

European countries have previously shown strong interest in the Belt and Road Initiative. For example, German Chancellor Angela Merkel called the "Silk Road" project very important in 2019, and Europeans hope to play an active role in it.

Now, as experts have said, Washington’s new plan and all the anti-China rhetoric of the US government are aimed at disrupting the existing economic ties between China and Western countries. Andrei Sidorov, director of the Teaching and Research Office of International Organizations and World Politics Process, Department of World Politics, Moscow University, said that the "Reconstruction of a Better World" plan may not replace China's initiative in practice.

Sidorov said: "If this plan mainly relies on the G7, it is unlikely that it will constitute actual competition with China's initiative. Now, there are far more than seven countries that play an important role in the global economy. The idea is only It’s good from a propaganda point of view."

Belichuk also believes that the G7 new infrastructure plan is "coming late" because China has signed many agreements with other countries and invested a lot of money. He predicted: "From many indicators, China is already the world's largest economic power, although it will take 10 to 20 years to finally establish its status. Of course, the United States is trying to formulate some plans to reduce the confrontation between leaders of developing countries. China is interested in cooperation, but these efforts may not be successful." Editor/Xu Shengpeng