Wealthy nations in the Group of Seven have agreed to set up an infrastructure plan to compete with China's Belt and Road Initiative — but that won't stop Beijing's massive program, an expert on global economic governance said Monday.
Leaders from the G-7 nations met at a three-day summit in southwest England that ended Sunday — their first face-to-face meeting in two years.
The group's infrastructure plan is part of a broad collective pushback against China on issues ranging from human rights abuses to non-market practices that undermine fair competition.
"This isn't really intended to stop Belt and Road.
The Belt and Road Initiative is China's ambitious program to build physical and digital infrastructure to connect hundreds of countries from Asia to the Middle East, Africa and Europe.
Matthew Goodman, Xi, Goodman, who's, CNBC's
Seven, Initiative, Sunday, Washington D.C, Strategic, International Studies, CSIS
England, China, Asia, East, Africa, Europe