WASHINGTON (BLOOMBERG) - President Joe Biden will launch a global infrastructure initiative to counter China's international ambitions, particularly in the Indo-Pacific, National Security Advisor Jake Sullivan said on Thursday (June 16).
The announcement is set for next week's Group of Seven (G-7) summit. The heads of state will meet June 26-28 in Germany.
The US-initiated partnership will cover global infrastructure, physical health and digital infrastructure and will provide "an alternative to what the Chinese are offering", ultimately with hundreds of billions of dollars in investment between the US and its G-7 partners, Sullivan said at an event hosted by the Centre for a New American Security.
"We intend for this to be one of the hallmarks of the Biden administration foreign policy over the remainder of his tenure," Sullivan said.
The effort will rely on private-sector funding and "relatively modest direct budget allocations" from the US government, he added.
Chinese Foreign Ministry spokesman Wang Wenbin said on Friday (June 17) at a regular press briefing in Beijing that while China welcomed efforts to promote global infrastructure development, Biden's initiative was based on a "zero-sum game approach".
"The relevant initiative from the US side ignores the desire of all countries for common development and win-win cooperation," he said, adding that it "will win no support".
He noted that any construction plans for global infrastructure required all countries to cooperate, support and complement each other, rather than confront and replace each other.
"What the world needs is to build bridges, not to tear them down; to connect, not to decouple and build walls," he said.
"Any attempt to advance geopolitics in the name of infrastructure development is unpopular and will not succeed," he added.