The US Global Build Back Better World (B3W) initiative has been exposed by President Biden to Latin America as an alternative to Chinese financing in infrastructure. It intends to tackle the Asian Giant's One Belt, One Road project under two main political lines.
The focus of the B3W project is on infrastructure development, although the G7 has turned to China for investment to renovate its own infrastructure. China is still viewed by the US as the greatest threat to national security of the 21st century, following the Republican administration.
The B3W represents for the United States a means of strategic competition with China, which shows that, at least in the short term, tensions and the refusal to cooperate with the Asian Giant will be a constant.