To compete with China's BRI, G7 has created a rival plan called "Clean Green Initiative" for poor countries.
Revealing detail to note is that the future "beneficiaries", the receiving poor countries are not invited to share their opinions.
bloomberg.com/news/articles/…
Revealing detail to note is that the future "beneficiaries", the receiving poor countries are not invited to share their opinions.
bloomberg.com/news/articles/…
Nobody knows where the money is to come from. China kick started the BRI 7 years ago. 2600 projects have already been accomplished or are under way. China gives loans at the reasonable interesting rate of 2-5% but is still accused by western gutter propaganda as "debt-trap".
China's loans are given without any political strings attached unlike the IMF loans.
To rival with China, G7 are willing to give interest free loans without political strings attached? Meanwhile imposing clean sustainable development standards?
To rival with China, G7 are willing to give interest free loans without political strings attached? Meanwhile imposing clean sustainable development standards?
Besides, China bids for projects at a very competitive price. G7 companies' offers are usually 30%-4 times more expensive. So even if G7 give interest free loans, the overall cost will still be a rip off for poor countries. Nobody knows how G7 is going to competitively
roll out the program to outperform China in the overall aspect.
Furthermore, G7 companies will still need to order building materials from China and in particular steel, bearing in mind China is responsible for 70% of the world's steel output.
Furthermore, G7 companies will still need to order building materials from China and in particular steel, bearing in mind China is responsible for 70% of the world's steel output.
China has always invited all countries to join and be part of the BRI. So now G7 thinks BRI is a good idea, the only part of which they have issues with is that it's a Chinese initiative, led by China. G7 thinks it can do the same better, cleaner, greener, more sustainable,
more affordable and above all decoupled from China..
China is willing to see and learn. The more the merrier. I'm afraid if the G7 initiative is clean and green but costs 4 times more which poor countries can't afford, the project is as good as dead,
China is willing to see and learn. The more the merrier. I'm afraid if the G7 initiative is clean and green but costs 4 times more which poor countries can't afford, the project is as good as dead,
just like the Pfizer vaccines catering only to countries possessing industrial fridges capable of producing temperature of -70ºC, thus automatically excluding Africa.
G7's Clean and Green Initiative to rival with China's BRI should begin with a project to contain Japan's nuclear waste water. Otherwise, environment is just a political tool G7 weaponises against China.
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