China's Absence from G20 Summit Allows US to Take the Lead on Global Development
  • 8 months ago
US President Joe Biden plans to offer financial support to fast-growing economies in the "Global South" as an alternative to China's Belt and Road project. Biden will bring cash for the World Bank, and promises of sustained US engagement to the G20 meeting in India. China's absence from the summit allows the US to shape the agenda, particularly in terms of World Bank reform and funding for climate and infrastructure aid. The US is seeking funding from Congress for a project that aims to provide an alternative to China's lending and infrastructure projects in developing countries.
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