G7 leaders pledge investment plan

By Scoop
June 28, 2022 · less than 3 min read

It’s set to rival China’s controversial ‘Belt and Road’ initiative.

A helping hand

$600 billion. What would you spend it on? G7 leaders are meeting in Germany to put the final touches on a massive aid package that will go towards helping countries from the four corners of the Earth develop new infrastructure – and will keep them away from China.

It might not be the headline but that’s really what this is all about. For a number of years, China’s Belt and Road initiative has been masquerading as a friendly developing hand, while in actuality it has indebted developing countries. The G7 have no plans of doing that.

Eyes on the east

The infrastructure plan is no doubt impressive. But no gathering of global leaders could take place without their eyes turning eastwards. The war in Ukraine has already lasted months longer than anticipated, no doubt partly thanks to aid given to the beleaguered Ukrainians and their dogged resistance. But with Russian forces making steady gains in the Donbas region, President Volodymyr Zelensky is set to launch another call for aid from world leaders.

One of the most pressing issues facing these leaders is the issue of grain theft. Grain is crucial to the world’s food supply and with supplies struggling to get out of Ukraine, efforts have been stepped up to try and get grain flowing again.

And that’s exactly what Russia has started doing. There’s photo evidence of grain theft taking place, and this could spell danger. Should Russia find itself in a state of hoarding one of the world’s most important resources, it’ll have a large amount of leverage to demand sanctions be lifted – or else. There’s a tricky road ahead. Who’d be a world leader, huh?

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