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G7 summit: Von der Leyen: Bad China experiences are an opportunity

G7 summit: Von der Leyen: Bad China experiences are an opportunity

According to the President of the European Commission, the G7 countries have an opportunity to offer emerging countries attractive partnerships from which both sides benefit.

At the G7 summit in Japan, EU Commission President Ursula von der Leyen called for countries in the Global South to be more closely tied to the West with attractive financing offers.

The “New Silk Road” investment project pursued by China looked like a good and cheap offer for emerging and developing countries, said the top German politician at the meeting with the heads of state and government of the leading democratic industrial nations. However, many of these countries have had bad experiences with China.

“Have to be quick and specific”

“They took Chinese loans and ended up with a debt crisis,” she said. And all Russia has to offer these countries are weapons and mercenaries. An opportunity is therefore opening up for the G7 countries: “We should offer emerging countries that are 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. In this way, players from business and banks can be brought together, but technology transfer can also be offered. For example, it’s not just about the extraction of raw materials, but also local processing and finishing, she explained.

Source: Stern

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