The G7 (US, UK, France, Germany, Italy, Japan, Canada), an alliance of the world's seven richest democracies, has launched a ڈ 40 trillion (ہزار 40,000 billion) "Build Back Better World" plan to counter China (B3W) plan presented.
According to Reuters, the G7 summit is currently underway in south-west England, in which a solution is being sought to counter China's growing economic and military power over the past 40 years.
The White House said in a statement that the G7 countries had proposed a ڈالر 40,000 billion B3W project to help developing countries, which would be completed by 2035.
"It's not just about competing with China, but so far we haven't come up with a positive alternative that clarifies our values, our standards and the way we work," said a senior Biden administration official.
The G7 countries and their allies will promote private investment in the areas of environment, health and health security, digital technology and gender equality through the B3W project.
It is not yet clear how the B3W project will be launched and how much funds will be allocated.
It may be recalled that more than 100 countries have so far signed the Belt and Road project launched by China. The cost of the project is more than 900 900 billion. The China-Pakistan Economic Corridor in Pakistan is also part of the same project under which 64 64 billion is being invested.
