Zhen Pan, associate attorney at Diaz, Reus & Targ: “There is always a need for better infrastructure, particularly in developing countries. The need has only become greater, given the Covid-19 pandemic. The B3W plan, which the United States has spearheaded as a leader of the G7, aims to mobilize private-sector capital in four areas—climate, health and health security, digital technology, and gender equity and equality. To some people, the plan appears to be a counterproposal to China’s Belt and Road Initiative, given the heightened competition between the two nations. In fact, the two initiatives, if done properly, will complement each other and create a win-win situation to promote global welfare and sustainable development. On the one hand, China’s initiative, started in 2013, focuses on hard infrastructure, such as plants, roads, highways and harbors, which China has extensive experience in building overseas. On the other hand, the areas under B3W’s…”