G7 leaders pose for a photo during a working session at Elmau Castle, southern Germany, on June 28, 2022. John MACDOUGALL / POOL / AFP
The G7’s new Partnership for Global Infrastructure Investment (PGII), a $600 billion plan to build infrastructure across the Global South and counter China’s Belt and Road Initiative (BRI), could have the effect of improving how Chinese companies do business and could end up improving the BRI itself, according to development experts.
Some acknowledged that the BRI has been controversial for its environmental and debt impacts. But they also pointed out that new standards would not only improve Chinese companies’ practices abroad it could also improve domestic standards within China. At the same time, the initiative will offer Global South governments new bargaining power.
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Responses to the G7’s Partnership for Global Infrastructure Investment (PGII) have run the gamut from enthusiastic approval to strident condemnation. However, many have also raised questions about how the initiative will actually work. ...
The G7’s Partnership for Global Infrastructure Investment (PGII), announced on Monday, is the newest Western initiative aimed at countering the influence in the Global South of China’s Belt and Road Initiative (BRI.) Perhaps ...