G7 infrastructure "painting big cake", 600 billion US dollars promise difficulties to implement

US President Biden recently announced the launch of the "Global Infrastructure and Investment Partnership" during attending the Seventh National Group (G7) summit. This initiative declares that it will raise $ 600 billion in the next five years to provide developing infrastructure for developing countries.

Multi -nation analysts believe that this initiative is not new, but it is only a re -packaging of related initiatives in the past. Funding is facing great difficulties. I am afraid that it is another "painting big cake". In addition, the current developed industrial countries promised to help developing countries infrastructure while their own infrastructure, and contains geopolitical maps.

New bottle of old wine

According to the White House's "Global Infrastructure and Investment Partnership", this initiative investment will involve many fields such as climate, digital technology, gender equality, and hygiene. The sources of funds are mainly divided into three parts: the US government raised 200 billion US dollars through gifts, federal government financing, and private sector investment; the European Union raised 300 billion euros (about 313 billion U.S. dollars in the "Global Portal" initiative proposed in December last year (about 313 billion US dollars ); G7 other member states promise to raise some funds. The total funds totaling $ 600 billion. In addition, the Seven Kingdoms Group also plans to seek cooperation with other multilateral banks and financial institutions.

This initiative seems ambitious, but carefully examining the specific content is unspeakable. At the G7 summit held in June last year, US President Biden proposed a "rebuilding a better world" initiative to promise to provide $ 40 trillion in 2035 to "meet the huge demand for infrastructure for low -income countries for infrastructure." Compared with this initiative, the investment field of "rebuilding a better world" is almost consistent, and the number of investment is greater. Some analysts lamented that from $ 40 trillion to $ 600 billion, shrinking is really not small.

The implementation of the "rebuilding a better world" initiative is bleak. The US "Diplomacy" two -month website article pointed out that in the past year, Biden announced that for about a year, the US government has invested only about 6 million US dollars in global infrastructure, far lower than its initial commitment.

Many analysts believe that the United States has proposed "global infrastructure and investment partnerships" in the "rebuilding a better world" initiative to repair and re -packaged the results. The British "Guardian" even directly used the term "restart" to explain the relationship between the two new and old initiatives.

Drawing cakes are hard to fill hunger

Many media and analysts pointed out that "global infrastructure and investment partnerships" face multiple difficulties that are difficult to overcome. First of all, it is difficult to raise funds.

Greek international relations scholar Peragia Capaciotaki said that under the G7, there are huge economic challenges inside the G7, and it is difficult to mobilize national resources to invest. Profit is more difficult to mobilize.

Secondly, the initiative involves multiple countries, and policy coordination may be lengthy and complicated. Kenya international problem scholar Kavans Adeshire believes that there are many participants in this initiative, and US investment only one -third. The initiative also nested the funds of the "Global Portal" initiative proposed by the European Union. Overlapping each other. Historical experience shows that under such a structure, the implementation of the initiative will last in the communication link alone.

President of the Indonesian Think Tank Asian Innovation Research Center and chairman of the Indonesian ASEAN South Ocean Foundation, Bangbang Surjo, believes that Western assistance often needs to experience a long decision -making and approval process. Costs have led to a slow implementation of many assistance and even reduced to "saliva assistance."

The US Political News website quoted the European Parliament members' comments that the Bayeng government promised to raise $ 200 billion in the initiative, but they did not know whether Congress would be willing to allocate funds for this. This was simply "drawing cakes" for other countries.

Elias Halwall, an associate professor at the School of Economics, Rio de Janeiro State University, Brazil, believes that G7 may really implement this initiative because of the overly financial economy of some countries in G7, and even their own infrastructure problems have not been solved, such as the American infrastructure The situation is a "tragedy".

Politics

At present, affected by factors such as interest rate hikes, geographical tensions, and repeated epidemics, the world economy uncertainty has increased, and the international community looks forward to seeing the initiative and projects of the people of all countries. Many analysts have questioned the "global infrastructure and investment partnership" proposed by the United States, saying that the initiative is also included in the calculation of geopolitical games.

Adehir said that the United States proposed this initiative to create new opportunities for American workers and companies, rather than to meet the actual needs of developing countries. In the final analysis, it is a political tool in the United States.

Suryo believes that the loan or assistance promised by the West often has many additional conditions, including fiscal reform, economic privatization and market -oriented reform, and sometimes even human rights issues. Benefits and stability. The White House describes the "global infrastructure and investment partnership" as a partnership of "values". It can be seen that "this initiative is the sugar -coated shells that promote Western values ​​in the United States."

Some analysts have pointed out that global infrastructure construction requires all countries to cooperate, support, and complement each other, rather than confrontation or replacement.What the world needs is to ride a bridge, not a bridge; it is interconnection, not to build a wall; it is mutual benefit and win -win, not closed.Any calculation that promotes geopolitics under the banner of infrastructure construction is not popular and will not succeed.(Source: Xinhua News Agency)

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