** Barishal division logs record 31 Covid deaths in a day ** Model Piyasa held with drugs ** Our future lies in defying living half-dead ** Factories reopen amid Covid surge ** Worsening Dengue: 237 patients hospitalised in 24 hrs ** BSMMC ICU in Faridpur suffer from shortage of doctors ** HSC form fill-up to begin on August 12 ** Running industries has to be an all round humanitarian activity ** Lockdown: Thousands returning to Dhaka as factories going to reopen Sunday ** Vaccinated people can carry as much virus as others ** Why jail custody is used for convenience of govt and not judicial custody for one's human rights? ** A man carries a coronavirus patient to the Dhaka Medical College Hospital. They came from an outlying district on Friday. ** Helena Jahangir placed on three-day remand ** 3 killed in Gaibandha road crash ** 170 more hospitalised with Dengue in 24 hrs ** RAB detains Helena Jahangir after raid ** Outbreak of mass fever panics people ** After undertaking a long and arduous journey to their homes, the holidaymakers are now struggling to make their way back to capital city Dhaka defying coronavirus restrictions as the long-haul bus services are suspended because of the lockdown. Many were charged extra for their return to their places of work by different modes fo transport. This photo was taken from Babubazar bridge in the city on Thrusday. ** Helena Jahangir's residence raided ** Owners urge government to reopen factories amid lockdown ** Covid-19: Bangladesh lowers vaccination age to 25 ** Triumphant Tigers are back! ** First case of black fungus reported in Chattogram ** Risking China's anger Blinken meets Dalai Lama’s representative ** Naem Nizam resigns from Editors' Council **

G7’s $4o trillion plan to counter China's Belt And Road Initiative

14 June 2021
G7’s $4o trillion plan to counter China's Belt And Road Initiative

The seven richest democracies in the world, known as G7, has unveiled a $40 trillion global infrastructure plan called "Build Back Better World (B3W) to counter China's multi-trillion-dollar Belt And Road Initiative (BRI). The adoption of the US-inspired B3W plan came after President Joe Biden and other leaders met at the 47th G7 summit in Cornwell in the UK on Saturday to address what they said strategic competition with China and commit to concrete actions to help meet the tremendous infrastructure needs in low and middle-income countries.

Western media reports said, the B3W plan will be a values-driven, high-standard and transparent infrastructure partnership to collectively analyze hundreds of billions of dollars of infrastructure investment in poorer nations by 2035. In a veiled criticism of China's approach to financing BRI projects, a senior official of Biden's administration said the B3W investments would be led by "a responsible and market-driven private sector, paired with high standards and transparency in public funding".

The summit was participated by the leaders of Canada, France, Germany, Italy, Japan, the UK and the US, and representatives from the European Union.

It is to be noted that China's Belt and Road Initiative scheme, which president Xi Jinping launched in 2013, involves development and investment initiatives that would stretch from Asia to Europe and beyond. More than 100 countries have signed agreements with China to cooperate in BRI projects like railways, ports, highways and other infrastructure.

Critics say Mr. Xi's plan to create a modern version of the ancient Silk Road trade route to link China with Asia, Europe and beyond is a vehicle for the expansion of Communist China. Beijing says such doubts betray the "imperial hangover" of many Western powers that humiliated China for centuries.

We hope US President Joe Biden will work with the US Congress to supplement existing development financing and collectively catalyse hundreds of billions of dollars of infrastructure investment for the poor countries.

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