US and G-7 Development Initiative: Good Idea but Maybe Too Little, Too Late

Countering China's Belt and Road Initiative

U.S. President Joe Biden speaks at the "Global Infrastructure" side event as (L-R) European Union Council Commission President Ursula von der Leyen, Japanese Prime Minister Fumio Kishida, Canadian Prime Minister Justin Trudeau, German Chancellor Olaf Schulz, Italian Prime Minister Mario Draghi, and European Union Council President Charles Michel look on during the G-7 summit at Schloss Elmau near Garmisch-Partenkirchen, Germany, on June 26, 2022. Sean Gallup/Getty Images

Commentary

The Global Infrastructure and Investment with $600 billion in funding is a good idea—but comes 10 years later and pales in comparison to the $1 trillion estimated for China’s Belt and Road Initiative.