Jonathan Black and Daleep Singh, the UK and U.S. G7 Sherpas, respectively, discuss the Build Back Better World (B3W) infrastructure initiative and the G7’s response to China’s Belt & Road Initiative, among other outcomes from the June 2021 summit.
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More China-backed coal capacity has been cancelled than constructed in recent years, creating an opportunity for recipient countries to pivot toward renewable sectors.
G7 leaders unveiled an initiative to support global infrastructure, launched as China’s Belt and Road Initiative pulls back. To succeed, the United States and its partners must design incentives that mobilize private capital and appeal to leaders in the developing world.
Small and medium economies of the Indo-Pacific are looking to build critical infrastructure now to meet their economic demands. The U.S., Australia, and Japan can capitalize on this unique moment in the Indo-Pacific’s development, but they need to prioritize addressing the remaining barriers to public-private infrastructure partnerships.
Jonathan Hillman discusses the true cost of China’s Belt and Road investments for developing countries, the U.S. role in enabling a global alternative, and lessons from his travels to China’s overseas projects in this episode of CSIS’ Building the Future Podcast with Dan Runde.