This year marked a turning point at the annual Group of Seven Leaders Summit in Germany.
The gathering produced yet another potentially wasteful infrastructure financing program to counter the underperforming global economy and dozens of other underlying challenges.
The plan, titled Partnership for Global Infrastructure and Investment is expected to cost around $600 billion.
The White House compared it to Biden’s own Build Back Better Act, ultimately offering to cover a third of the total costs.
US to contribute $200B to $600B global infrastructure program
However, considering the US’ current economic fallout, many would argue Biden is throwing money around.
He is endangering our economy at a time when the country is on the brink of spilling over into a recession.
The program in question claims to be focused on providing public and private financing for infrastructural projects in developing countries across the globe for the next five years.
Yet, much like the Biden administration’s domestic policy, it’s very possible that less than 10% will actually go towards standard infrastructure projects.
👉Every decision the Biden Administration makes, EMPOWERS CHINA.
— J.U.L.I.E.T (@TrumpWins24) June 29, 2022
Surely, taking every opportunity to deepen relationships and practical trade with developing economies is one of the US’ critical interests, but it doesn’t take away from the fact the plan has some major issues.
One of which is instead of tackling policy areas that could improve economic freedom and prosperity within the country, the plan aims to fund projects related to gender equality, diversity, and climate change, to name a few.
Countering China and Russia with social justice programs
Despite being originally created to counter China’s nine-year-old Belt and Road Initiative, the PGII is much more likely to go after pointless investments.
These investments will go in line with its left-leaning agenda, rather than choosing the option that would allow the West to gain a geopolitical advantage over China and its allies.
Biden has pledged $200 billion for infrastructure and border security in foreign countries. Ukraine’s president is demanding $5 billion *monthly.*
But RINOs and the left wouldn’t come up with $6 billion for border security or assist border patrol. Remember this.
— George Papadopoulos (@GeorgePapa19) June 29, 2022
With this in mind, it’s easy to visualize the PGII as ineffective, due to prioritizing areas like gender equality and climate change at a time when our competitors, Russia and China, have already bared their teeth.
In fact, the two countries have nearly identical goals, both of them looking to destabilize western nations while we’re focused on settling gender and environmental issues, instead of addressing the Chinese threat.
Biden tried to sweeten the deal by “assuring” the infrastructure program would generate returns for everyone.
While most strategies should be result-oriented, he contradicts himself here with the claims that foreign investment wouldn’t be portrayed as charity.
Why does Biden want to send $200 BILLION to other countries for infrastructure? How about fixing ours first?
— Nevada Nails (@gelnails2012) June 28, 2022
The fact is, social justice initiatives simply don’t make a return on investment, meaning that Biden is willing to throw away $200 billion at a time when the American people are struggling to pay for their monthly work-commute-related costs.
The initiative would be better off if it focused on enhancing proper business and energy sectors, while also strengthening our geopolitical ties to crucial parts of the world, such as the Three Seas Region in Eastern Europe.
