G7 to roll out green rival to belt and road with US rallying support to confront China

The Group of Seven is set to roll out a green initiative to rival Beijing’s Belt and Road Initiative at a summit in Britain this week, as the leaders look towards the post-pandemic recovery with a wary eye on a more assertive China.

Leaders from the world’s biggest advanced economies will convene at the Carbis Bay seaside resort in Cornwall on Friday, where they are expected to discuss key issues around the pandemic, climate change, the global economic recovery and efforts to support developing countries in sustainable development through a “Clean Green Initiative”.

It is not yet clear if new funds will be allocated to the green scheme which has been described by United States President Joe Biden as a “high standard alternative to China for upgrading physical, digital and health infrastructure”.

While Beijing touts its own global vaccine support efforts, the G7 nations – the US, Britain, Germany, Japan, France, Italy and Canada – will discuss efforts to vaccinate the world against Covid-19 by the end of 2022. Australia, India, South Korea and South Africa will attend as guest observers on Saturday for discussions on health and climate change.

Analysts say the three-day summit will be key in Biden’s inaugural overseas trip to demonstrate a return to global leadership after his predecessor Donald Trump’s more insular approach, particularly when it comes to rallying support in Europe to confront what Washington sees as a growing threat from China. But the challenge, they say, will be how to bridge the various democracies’ differences over how best to approach Beijing.