The head of the European Commission, Ursula von der Leyen, speaking at the G7 summit in Japan, said that many countries of the global South (developing countries in Africa, Asia, Latin America) were allegedly disappointed in China and Russia, so the G7 has a “window of opportunity”, but You have to “be quick and specific”.
The head of the EC spoke in Hiroshima at a session dedicated to strengthening interaction with international partners. The text of the speech was distributed in Brussels by the press service of the European Commission.
“Modern challenges are having a strong impact on the world economy, but especially on the global South… Many emerging markets, developing countries are looking for sustainable financing opportunities. The Belt and Road Initiative looked like a good cheap deal. But many countries in the global South have had a negative experience with China. They took Chinese loans and found themselves in a debt crisis. And all that Russia can offer these countries is weapons and mercenaries,” the head of the EC said.
According to her, the countries of the global South are looking for “alternative financing options.” “A window of opportunity is opening for the G7 and close partners. We must offer mutually beneficial partnerships to emerging economies that want to work with us. But we must be quick and specific,” the head of the European Commission is sure.