U.S. President Joe Biden addressed the COP26 meeting in Glasgow, Scotland on Tuesday. He used some of his time to restate the broad principles guiding his Build Back Better World (B3W) initiative that is ostensibly intended to build infrastructure in developing countries but is also proving quite useful to throw shade at Beijing.
“Being transparent about how we’re financing our projects, we offer positive alternatives to debt — to debt traps and corruption,” President Biden said in reference to long-standing accusations by the U.S. that China engages in predatory lending practices. “We can hold entire countries back if we don’t do that. Transparency is critically important,” he added.
