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Project “Build Back Better World” : A relief for the developing world from Chinese imperialist design

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Build Back Better World

The Group of Seven leaders met in the United Kingdom and the role of Chinese expansionism and dominance remained a matter of concern. The G7 leaders have unveiled a new mission to counter China. G7 leaders have backed a vast global infrastructure plan to rival the Chinese “Belt & Road” project. The “Build Back Better World” (B3W) project is for developing and emerging countries. The brainchild of the project is US President Joe Biden.

The aim of the project is to help countries to recover from pandemic. This will be done by focusing on climate, health, digital technology and the fight against inequality. The global infrastructure initiative will help narrow the $40+ trillion infrastructure need in the developing world, which has been exacerbated by the COVID-19 pandemic.The project will provide breather to debt trap countries in Asia, Africa & Latin America who have been forced to shed their autonomy and sovereignty due to failure in servicing unmanageable debt.  

The BRI is spread across 2600 projects at a cost of $3.7 Trillion. The $62 Billion China Pakistan Economic Corridor has bankrupted Pakistan and they are approaching the International Monetary Fund for a bailout package to meet its external obligations. The Islamic terror exporting nation is unable to meet its repayment obligations, thereby pressurized by China to serve its geostrategic interest. The strategic port of Gwadar in Arabian Sea has been transferred to China. Similarly unable to meet its financial obligations, the Island nation of Srilanka has leased a Port in Hambantota district, some 250 km south of Colombo, to China for 99 years. The Island sovereignty was further ceded when Rajapakse administration passed a bill to enable Dragon to construct & fund $1.4 billion Colombo International Port City.

And India will play a pivotal role in the G7 “B3W” plan to emerge as an alternative to “BRI” and will need extensive investment. The Senator from United States Steve Davis has stated India is the fastest growing FinTech market and is ahead of US in financial innovation. The move by G7 nations will catalyse hundreds of billions of dollars of infrastructure investment for low- and middle-income countries and plan would mobilize private capital through development finance. The move will benefit democratic nations to save the low & middle income countries from predatory lending of China & the aim is values-driven, high-standard, and transparent infrastructure partnership.

UMESH AGARWAL
UMESH AGARWAL
Everybody has an opinion. Do they, however, truly matter? These days, blending various viewpoints has resulted in the development of hazardous concoctions of perspectives. The true goal, however, was to cultivate serious intellectual revolutions that would influence the people and create a community that might affect global change. About Umesh Agarwal Umesh Agarwal, a conscientious Indian citizen active in media and volunteer work, thinks that young people in India need to become more aware of both spoken and unsaid global events. An entrepreneur by trade, a commerce graduate by education, and a veteran of the information technology three-tier architecture industry, He has made it his mission to increase public understanding of global current affairs, macro and microeconomics, heritage, international relations, history, and economic affairs. He is a renowned geopolitical expert, visionary, and astute opinion leader. He is passionate about analysing current events and reporting on them in a variety of international publications, including Trunicle, USApolitico, Keatley, and BharatVoice. Many of his writings went viral and attracted the attention of international celebrities who commented on them. VISION Umesh queries, "Is it easy to be vocal and politically opinionated with numerous avenues of information like print media, live websites, and interactions on social media. But the crucial query is: Are we expanding our thinking? Can we uncover facts buried in layers? Are we capable of fully comprehending the political game of cards?” He frequently states that In today’s capitalist society, if we don't teach the next generation how to protect themselves from the tragedies of bureaucratic conspiracies, they might never learn to protect themselves and make big decisions. VOLUNTEERING WORK Along with his involvement with numerous charitable organisations, he had managed multispecialty day care diagnostic and cancer detection centres that serve more than 100,000 people in Chennai. Having participated in numerous humanitarian and social organisations as a contributor. INDIACHRONICLE With the vision of promoting transparency and empowering the youth , he has launched a mediahouse- IndiaChronicle.in, a new centrist journal designed to promote educated debate and offer insightful information on the many areas that influence our society. India Chronicle seeks to fill in the gaps in public conversation by offering a fair-minded and complex viewpoint on important topics. Our readership is made up of a diverse group of people, including decision-makers, academics, workers, and active citizens who seek insightful information. Its time that we think of the persistent little contributions that make us a more responsible individual and a global citizen. Follow on Email : ukagarwal@gmail.com Facebook : https://www.facebook.com/ukagarwal Twitter : https://twitter.com/ukagarwal Linked In : https://www.linkedin.com/in/ukagarwal/ YouTube : https://www.youtube.com/@ukagarwal Instagram : https://www.instagram.com/ukagarwal2k2/

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