The Build Back Better World (B3W) project – a $40 trillion investment venture undertaken by the G7 states in June 2021 – aims to contest China’s Belt and Road Initiative (BRI). While B3W only exists on paper, BRI has already embedded its roots in several regions. The author, Muhammad Ali Memon, notes that in their race to achieve economic hegemony, the G7 states and China are investing in developing states and creating a cycle of economic dependency akin to economic imperialism. He argues that the B3W contracts will follow a pattern similar to China’s debt contracts, giving the lending state significant power over the borrowing state’s decision-making process.
Muhammad Ali Memon
Muhammad Ali Memon is a graduate of NUST. He is keenly interested in studying the changing paradigm of global power politics. He is a writer and student of international relations and global politics.