ELMAU CASTLE, Germany: The Group of Seven (G7) announced on Sunday it would attempt to compete with China's formidable Belt and Road Initiative (BRI) by raising some $600 billion for global infrastructure programs in poor countries.
The Partnership for Global Infrastructure and Investment, unveiled with fanfare by United States President Joe Biden and fellow leaders from Canada, Germany, Italy, Japan and the European Union, aims to fill a huge gap left as China uses its economic clout to stretch its diplomatic arms into the world's farthest corners.
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