G7 Seeks Alternative to Counter China’s Belt, Road Imitative: Report

A senior official in US President Joe Biden’s administration, who spoke to reporters on condition of anonymity, said Washington would also push the other G7 leaders for "concrete action on forced labor" in China, and to include criticism of Beijing in their final communiqué.

"This is not just about confronting or taking on China," the official said. "But until now we haven't offered a positive alternative that reflects our values, our standards and our way of doing business."

China’s Belt and Road Initiative (BRI) is a multi-trillion-dollar infrastructure scheme launched in 2013 by President Xi Jinping involving 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.

According to a Refinitiv database, as of mid-last year, more than 2,600 projects at a cost of $3.7 trillion were linked to the initiative.

The US official said until now, the West had failed to offer a positive alternative to the "lack of transparency, poor environmental and labor standards, and coercive approach" of the Chinese government that had left many countries worse off.

"So tomorrow we’ll be announcing ‘build back better for the world,’ an ambitious new global infrastructure initiative with our G7 partners that won’t just be an alternative to the B and I (Belt and Road)," the official said.