Leaders from the Group of Seven (G-7) representing the world’s wealthiest democracies announced on June 26 that $600 billion would be allocated for global infrastructure programs to counter the Chinese regime’s expansion through its financing of enormous loans to poor countries for building infrastructure.
U.S. President Joe Biden and other G-7 leaders pledged to raise $600 billion by 2027 for the plan, known as the Partnership for Global Infrastructure and Investment, aimed at supporting the infrastructure needs of low- and middle-income countries.
“I want to be clear, this isn’t aid or charity,” Biden said as he unveiled the project following the meeting at the beginning of the three-day summit in Germany. “It’s an investment that will deliver returns for everyone, including the American people and the people of all our nations.”…