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The United States Contests the Chinese Belt and Road Initiative with a Private Corporation

At the G7 Summit in Germany, on June 26, 2022, U.S. President Joe Biden made a pledge to raise $200 billion within the United States for global infrastructure spending. It was made clear that this new G7 project—the Partnership for Global Infrastructur…

At the G7 Summit in Germany, on June 26, 2022, U.S. President Joe Biden made a pledge to raise $200 billion within the United States for global infrastructure spending. It was made clear that this new G7 project—the Partnership for Global Infrastructure and Investment (PGII)—was intended to counter the Chinese Belt and Road Initiative (BRI). Given Biden’s failure to pass the Build Back Better bill (with its scope being almost halved from $3.5 trillion to $2.2 trillion), it is unlikely that he will get the U.S. Congress to go along with this new endeavor. More

The post The United States Contests the Chinese Belt and Road Initiative with a Private Corporation appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Vijay Prashad.


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