G-7 wants to rival China’s Belt and Road plan — but it won't stop Beijing, expert says - CNBC
Jun 14, 2021 57 secs

Wealthy nations in the Group of Seven have agreed to set up an infrastructure plan to compete with China's Belt and Road Initiative — but that won't stop Beijing's massive program, an expert on global economic governance said Monday.

The group's infrastructure plan is part of a broad collective pushback against China on issues ranging from human rights abuses to non-market practices that undermine fair competition.

In addition, the seven rich democracies would bring better safeguards to infrastructure projects — including transparency, accountability as well as environmental and social standards, said Goodman.

and many countries have been critical of the Belt and Road plan, accusing Beijing of leaving participating countries laden with untenable debt, while benefiting Chinese companies — many of them state-owned.

He said the group had wanted to show that democratic nations are working together to address global challenges, in contrast to authoritarian rivals such as China and Russia.

"I think the tone was pretty clear about the concern that these seven large, advanced market economies have about China, its economic coercion, it's non-market policies, its human rights abuses," said Goodman?

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