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| China said on Monday that it welcomed the Group of 7 nations’ plans to expand global infrastructure investment in developing countries but rejected criticism that its own extensive efforts were “debt traps” for the nations taking part. |
| Leaders of the G7 countries said on Sunday that they would seek to raise $600 billion in private and public investment for less wealthy countries to finance spending on infrastructure ranging from telecommunications to health care. The United States said it would mobilize $200 billion of that commitment over the next five years. |
| While much of the G7 summit has concentrated on the war in Ukraine, China remains a long-term focus, with the infrastructure plan meant to counter the $1 trillion Belt and Road Initiative that Beijing launched in 2013. |
| Zhao Lijian, a spokesman for China’s Ministry of Foreign Affairs, rejected criticism of that program on Monday, saying that loose monetary policy and unregulated financial products from the United States create the greatest debt burden for developing nations. |
| “China always welcomes all initiatives to promote global infrastructure construction,” Mr. Zhao said. “But we oppose words and deeds that use the banner of infrastructure construction to promote geopolitical calculations, and smear and slander the Belt and Road Initiative.” |
| The latest G7 initiative, called the Partnership for Global Infrastructure, comes one year after President Biden urged the member countries to counter China’s influence through a similar plan known as Build Back Better World. |
| Western leaders say the Partnership for Global Infrastructure will focus on projects that can be completed quickly and deliver the greatest benefits while meeting environmental and labor standards. But the mix of public and private money means that the total investment sum is not guaranteed. And the repeated attempts to counter China’s program have stirred doubt. |
| “I think the default reaction has to be skepticism,” said James Crabtree, the executive director for the International Institute for Strategic Studies Asia. “So far the Western Belt and Road competitors tend to promise more than they deliver. So the question is: What is going to be different?” |
| Still, some observers found the latest iteration to be more concrete than past attempts. The Chinese program has begun to taper off, potentially offering opportunities for rival efforts. And Europe’s attempts to move away from Russian oil and natural gas offer further incentive to pursue projects abroad. |
| “This shows a big commitment for infrastructure in the developing world,” said Maria Adele Carrai, an assistant professor of global China studies at N.Y.U. Shanghai. Western countries, she said, appeared to have been “pushed further by the war in Ukraine, which shows their vulnerability in the supply chain.” |
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