G7 counters China's Belt and Road Initiative to curb its global influence

ALSO READ China Belt & Road spend in Russia, Sri Lanka falls to zero: Report China's debt trap diplomacy responsible for economic calamity in Sri Lanka China used 'debt trap diplomacy' to gain control over Sri Lanka: Think tank US seeks to add India as 6th nation for NATO plus, says lawmaker Ro Khanna Zelenskyy to attend NATO summit in Madrid from June 28 to 29: Report. Tried to project itself as a helping hand to developing countries in the case of infrastructure and economic development through its Belt and Road Initiative but only just to lure them into their debt trap. Looking at the geopolitical developments, the - which includes the United States, Canada, Italy, the UK, France, Germany, and Japan along with the European Union - have introduced the Partnership for Global Infrastructure and Investment, an alternative mechanism for the developing world which can replace, or at least lessen, the adverse impact of China's BRI. The central purpose of the PGII initiative is to provide funding to the countries in need of critical infrastructure, including roads, bridges, ports as well as communication facilities. Author Fabbri quoting US National Security Adviser Jake Sullivan said, "(We) do think that there is increasing convergence, both at the and NATO, around the challenge China poses and around the need - the urgent need for consultation and especially alignment among the world's leading market democracies to deal with some of those challenges". Unlike Chinese projects plagued by low cost, loose standards, and hurried timelines, the PGII initiative can be a major win for global welfare and sustainable development, with its emphasis on human infrastructure at the core of global development ambitions. According to the China Daily, Beijing believes that the PGII is launched to compete against China. Beijing is skeptical regarding the outcomes of the PGII and affirms that other countries including the G7 should join China's BRI. PGII is an indication that Chinese investments, after a flurry of deals in the last few years world over, are now receiving pushback from many countries.