US working with G7 countries to compete with China's Belt and Road Initiative: Biden
economictimes.indiatimes.comChina's Belt and Road Initiative through a network of infrastructure projects, including a railroad connecting Saudi Arabia with Europe, President Joe Biden said. On the sidelines of the G20 Summit in September, key leaders of the world led by Prime Minister Narendra Modi and Biden had announced the launch of the ambitious India-Middle East-Europe Economic Corridor.
«We are going to compete on that (Belt and Road Initiative) and we're doing it in a different way.
The Belt and Road Initiative has ended up in debt and a noose for most of the people (nations) who have signed on,» Biden said at a Rose Garden news conference with visiting Australian Prime Minister Anthony Albanese.
He said that they are working with G7 partners to provide infrastructure for those nations.
The Group of Seven (G7) comprises the UK, Canada, France, Germany, Italy, Japan and the United States.
«We want to, for example, at the G20, we were able to act on a proposal to build a railroad all the way from Riyadh all the way through the Middle East, Saudi Arabia, Israel, up through Greece, and not the railroad, but pipeline across the Mediterranean up into Europe,» Biden said in response to a question.
The US president said that his previous comment of «extreme competition» with China was not conflict. «I talked about how we're going to compete with China in every way according to the international rules, economically, politically, and other ways, but not — I'm not looking for conflict,» he said in response to another question.
Albanese is headed to China next month. Biden was asked «What do you make of China's re-engagement with Australia?» and «Can Australia trust Beijing, and can Australia do business with China?..
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