G7 sees other countries’ bad experiences with China as an opportunity Gerhard Richter’s “4096 colors” auctioned in New York for $ 21.8 million

At the G7 summit in Japan, Ursula von der Leyen, President of the European Commission, called for countries in the South to be more closely linked to the West with attractive financing offers. The investment project “New Silk Road” pursued by China seemed like a good and cheap offer for emerging and developing countries, the top German politician said on Saturday during the meeting with the heads of state and government of the leading democratic industrialized countries. However, many of these countries have bad experiences with China.

“They took out Chinese loans and went into a debt crisis,” she said. And all that Russia has to offer these countries is weapons and mercenaries. So there is an opportunity for the G7 countries: “We need to offer emerging countries willing to work with us partnerships that benefit both sides,” she said. “But we have to be quick and specific.”

According to the CDU politician, the great advantage of the G7 countries is that they can offer complete packages. For example, players from the business community and banks can be brought together, but technology transfer can also be offered. For example, it is not only about extracting raw materials, but also about local processing and finishing, she explains.

(yam/sda/dpa)