June 14, 2021 13:45
The leaders of the G7 countries agreed at their latest meeting to invest in building up the infrastructure of developing countries in a bid to counter China's "Belt and Road" initiative. The agreement shows the firm resolve of the international community to thwart China's imperial ambitions. U.S. news media claimed the new grand alliance will surpass the Marshall Plan of postwar aid to Western Europe, and the U.S. and its allies clearly hope to overwhelm China with a splurge of their own.
At the first G7 meeting to be held in two years, U.S. President Joe Biden pursued a flagrantly anti-China agenda, announcing a renewal of the Atlantic Charter that set America and Britain’s goals for the world after World War II but this time to thwart China’s expansionist ambitions. The White House stressed the importance of investing in developing countries and set 2035 as the target year for completion. That just happens to be the year when Chinese President Xi Jinping's tenure ends. Biden criticized China's human rights abuses and anti-market principles and called on the international community to "take action."
Just a few days before the summit, Beijing pre-emptively passed a new law that would punish foreign companies for cooperating with the U.S.' anti-China sanctions. Punitive measures range from entry bans for executives to asset seizures. That means Samsung and other Korean businesses with factories in China could end up having their assets there seized if they cooperate with any American sanctions.
Last year, the Korean ambassador to the U.S. said, "Now we can choose sides" between the U.S. and China rather than being forced to pick one. Ruling-party lawmakers hailed the comments as representing "balanced" and even "transcendent" diplomacy. What must they be thinking now? When Seoul tried to repair its alliance with Washington, Beijing issued a warning, saying South Korea should not be "misled" by the U.S. The balancing act just got a whole lot more precarious.
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