G7 Vs China - Can the West Out Compete China’s Trillion Dollar Belt and Road Initiative?

600 billion dollars. That's how much G7 countries pledged to counter China's Belt and Road initiative, a project that looks to recreate the ancient Silk Road. Beijing says it will spend more than a trillion dollars on ports, roads, bridges and rails, having already broken ground in dozens of countries across Asia, Africa and Europe. But now, G7 leaders are looking to outdo their Chinese rivals. Dubbed the Partnership for Global Infrastructure and Investment, or P-G-I-I, US President Joe Biden says the investments will help low and middle income countries tackle climate change, improve public health and transform to fit a digital world. For years, the US has tried to counter China's growing influence, and has criticised the Belt and Road Initiative as a debt trap that hasn't brought tangible benefits for host countries. China has countered that its investments come without political strings attached and benefits both sides. So whose plan will win out in the end, and is this global competition between China and the west a good thing for developing countries? Guests: Nancy Snow Distinguished Visiting Professor at Schwarzman College Andrew Leung Political Analyst