The United States has announced the launch of a new infrastructure project, B3W (Build Back Better World), in conjunction with the G7 countries to counter China’s Belt and Road Initiative (BRI). According to the media, the purpose of this project is to increase America’s influence in the post-Corona world. According to sources, this is purely a political ploy aimed at launching a new international infrastructure project against Chinese project BRI and a ploy by President Joe Biden to undermine US domestic infrastructure and wants to streamline its structural costs.
American media quoted that American officials embark on their B3W tour, countries will be looking for proof that the US is offering a healthier alternative to BRI, which has been tarnished by negative environmental and social impa-cts, a lack of transparency and corruption, and has been criticized for leaving governments around the world strangled by debt.
Indian media is following the same path US is on; ensured its partnership in the mentioned project as Prof Rajan Kumar, while sharing his views with Fi-nancial Express Online sa-ys, “President Biden appe-ared to be making sincere efforts at the Cornwall Su-mmit of the G7 to save the liberal international order led by America. The Trump administration’s isolationist America First policy and the rise of China had put a question mark on the viability of this order. The Eur-opean allies were shaken by the withdrawal of America from multilateral institutio-ns and had begun to chart out their own courses of ac-tion in global affairs. Biden sought to persuade these st-ates to make a concerted ef-fort against the challenges facing the world today.”
Now, experts believe that the US project is not financially viable. Experts have said that the US will require a huge amount of money to complete this project as it is not only a project as US and its sponsorship of the G7 countries are connected with the completion of the project because the purpose of the project is to compete with China.
US plans to invest in five to ten major infrastructure projects worldwide by January, according to Reuters. Ten of those projects were identified in Senegal and Ghana when a US delegation led by President Joe Biden’s Deputy National Security Adviser Dilip Singh visited those countries. Another similar delegation visited Ecuador, Panama and Colombia in October, while the next visit of US officials to Asian countries will be under the same project. It is currently unknown what cost will this infrastructure project will require. The B3W Initiative, launched under the broader G7 program, aims to narrow the scope of the 40 trillion Chinese BRI project by 2035.
Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing, told Global Times that any such US-led project would result in the bankruptcy of several G7 countries. The White House said in a statement in June that the B3W project would work in the areas of environment, health, health security, digital security, gender equality and equity, and that the private sector would be involved. While the funds will be obtained from development financial institutions.
Wang Wenbin, a spokespe-rson of the Ministry of Foreign Affairs, said the world needs to “build bridges” rather than “tear down bridges; to strengthen connectivity rather than seeking decoupling; to make mutual-benefits and win-win cooperation rather than a closed-door policy and exclusiveness.”
Geographically, the project was intended to include Latin America, the Caribbean, Africa, and the Indo-Pacific region. The Biden administration has initially called for a 1.2 trillion infrastructure bill to launch the project, which will take eight years to complete. During the discussion on the bill, it was revealed that 40 trillion would be required to complete the project and it is not possible to get such a large amount at present.
Liu Yu Xiang, a professor at the Chinese Academy of Social Sciences in Beijing said that three things are needed for a globally successful infrastructure construction project: sustainable and heavy funding, unwavering commitment and equal participation of project partners. America does not have these three things.
Biden pursued to adv-ance the initiative during a meeting on the sidelines of the COP26 UN climate conference with European Commission President Ursula von der Leyen, British Prime Minister Boris Johnson and other G7 partners and different projects were discussed included setting up a possible vaccine manufacturing hub for West Africa in Senegal, bolstering renewable energy supplies, boosting lending to women-owned businesses, and narrowing the digital divide.
In the CNN Poll on 9th November 2021, one year out from the 2022 midterm elections, “58 percent of Americans say President Biden hasn’t paid enough attention to the nation’s most important problems, as a majority disapproves of the way he’s handling his job as President,”. Moreover, the Biden is already facing the fallout of his chaotic withdrawal and worst humanitarian crisis in Afghanistan, he instead of talking big and encountering other countries, must focus on own country’s developmental projects and social issues to gain the hearts of his nation, otherwise, he might lose his seat in the next elections.
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