In case you missed last June’s G7 B3W release, here it is.
Biden/G7 Fact Sheet on B3W Partnership Launch
In addition to focusing on rebuilding the US’s by now DECREPIT INFRASTRUCTURE, B3W’s goal has been to blunt the effects of China’s Belt and Road Initiative (BRI) which is creating new trade routes between Asia, Europe and Africa and which will eventually expand to include Latin America as well.
As part of B3W’s goal, the G7 hopes to beat China to the punch in financing all manner of infrastructure development — whether physical or digital — in every corner of the DEVELOPING WORLD. In other words, another BANKER’S BANQUET meant to secure GEOPOLITICAL ADVANTAGE. China does this ITS WAY, the West does it THEIRS.
Here are B3W’s guiding principles:
- Values-Driven
- Good Governance and Strong Standards
- Climate-Friendly
- Private Capital Mobilization through Development Finance
- Enhanced Impact of Multilateral Public Finance
Sound a little like LAST YEAR’S BUSINESS PLAN? Or someone playing CATCHUP? And since Biden’s Build Back Better agenda in the US failed to lift off, what are the odds of the West — acting in seamless concert — achieving the globalized version?
Is it too little, too late?
We’ll see. This is straight from Davos, after all.