The United States-driven Build Back Better World initiative is competing directly with China’s Belt and Road program
🇺🇸 President Joe Biden’s Build Back Better World initiative is gaining new traction at the G-7 after struggling to get off the ground last year.
Cited as “ambitious economic legislation”, the project originally lacked enough G-7 partners to contribute financially. The Build Back Better World initiative is meant to be a direct alternative to China’s Belt and Road program. The U.S. hopes to renew interest in the plan in light of Russia’s actions in Ukraine proving that geopolitical risks are significant when countries are too dependent on one another.
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