The leaders of the G7 group of wealthy nations meeting for a summit in Germany are formally launching a billion-dollar global infrastructure and investment initiative, in a bid to push back against China’s growing influence in lower-income countries. Dubbed “Partnership for Global Infrastructure” (PGII), the deal intends to “close the infrastructure gap in developing countries, strengthen the global economy” and support the economic and national security interests of the G7 countries, according to the White House. US President Joe Biden is set to announce at the summit that the seven nations a…