At its annual summit in the mountains of Germany, the G-7 announced a collective $600 billion plan to combat China’s growth as it threatens to cement its role as a global superpower. The money, $200 billion of which will come from the U.S., will be invested into developing economies in an effort to combat autocracies. President Joe Biden was on hand for the announcement, though he never said China’s name, according to Politico. Instead, he noted how “our nation and the world stand at a genuine inflection point in our history” and that, with this investment, countries will have a better chance at managing crises such as climate change and pandemics. “We’re offering better options for people around the world,” Biden said. The announcement came as world leaders debated methods to fight back against Russia’s invasion of Ukraine.
