President Biden announced on Sunday that the U.S. will mobilize $200 billion dollars of investment in global infrastructure projects in the next five years, as part of an effort by the world's leading democratic economies to counter China's Belt and Road Initiative. The overall investment, including G7 partners and private capital, aims to hit $600 billion over the next five years.
"This isn't aid or charity," Biden said, flanked by other G7 leaders on the sidelines of the summit in Germany. "It's an investment that will deliver returns for everyone, including the American people and the people of all our nations."
