Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (189270)	6/27/2022 7:52:33 AM
From: Julius Wong	Read Replies (2) \| Respond to of 217592

Biden unveils $600B G7 infrastructure plan to counter China Jun. 27, 2022 6:19 AM ETBy: Yoel Minkoff, SA News Editor 35 Comments Bet_Noire/iStock via Getty Images There was a lot of talk about the war in Ukraine at the latest G7 meeting in the Bavarian Alps, with Western leaders commiting to provide Kyiv with "financial, humanitarian, military and diplomatic support for as long as it takes," according to a draft statement. Members also sought a deal to impose a "price cap" on Russian oil, and some even agreed to ban Russian imports of newly mined and refined gold, which is one of the country's top exports. The annual gathering was called the G8 prior to 2014, when Russia was expelled from the group following the annexation of Crimea. On to infrastructure: Previously called "Build Back Better for the World," President Biden followed up on a proposal from last year's G7 summit by launching a global infrastructure plan to counter China's influence in the developing world. The "Partnership for Global Infrastructure and Investment" would specifically create an alternative to China's Belt and Road, which has been criticized over its leverage in creating political goodwill, massive debt and a way to spread Beijing's influence. The U.S. committed $200B in grants, federal funds and private investment to the project over the next five years, and intends to mobilize $600B from the entire G7 by 2027. "I want to be clear. This isn't aid or charity. It's an investment that will deliver returns for everyone, including the American people and the people of all our nations," Biden declared at the summit. "It will boost all of our economies and let communities from around the world see the concrete benefits of partnering with democracies." Among the areas that will be targeted include "health, digital connectivity, gender equality, and climate and energy security." Response from China: "China continues to welcome all initiatives to promote global infrastructure development," Foreign Ministry spokesman Zhao Lijian replied when asked for comment. "We believe that there is no question that various related initiatives will replace each other, [but] we are opposed to pushing forward geopolitical calculations under the pretext of infrastructure construction or smearing the Belt and Road Initiative."