Biden-backed Economic Corridor Promotes Inclusivity, Sidelining China at G20 Summit

The International Monetary Fund's Managing Director, Kristalina Georgieva, has stated that the Biden-backed rail-to-sea economic corridor linking India with Middle Eastern and European countries should not exclude any nations and should instead promote an integrated world economy. The initiative aims to counter China's influence in the Middle East and compete with its Belt and Road global infrastructure project. Georgieva emphasized the importance of creating corridors and opportunities for trade to be an engine of growth, encouraging countries to work collaboratively and inclusively. The deal between Biden and Indian Prime Minister Narendra Modi underscores their partnership and strategic proposition in facilitating the developmental needs of the Global South.