During a call with British Prime Minister Boris Johnson, US President Joe Biden proposed that democratic countries should come forth to finance infrastructure in less developed countries.

In a phone call with British Prime Minister Boris Johnson on Friday, US President Joe Biden proposed that democratic countries should create an infrastructure strategy to rival China's Belt and Road initiative.

Biden told reporters, "I suggested we do have, a similar system, pulled from the democratic states, to support those societies around the world that, in reality, need support."

The Belt and Road Initiative (BRI) is a multibillion-dollar infrastructure project launched by Chinese President Xi Jinping in 2013 that involves growth and investment initiatives spanning East Asia and Europe. The project would greatly increase China's economic and political clout, causing alarm in the United States and everywhere else.

Biden's comments came when he said on Thursday that he would prevent China from overtaking the US as the world's most powerful economy, promising to spend heavily to ensure the US prevails in the world's two largest economies' growing rivalry.

Next week, Biden aims to reveal a multibillion-dollar development proposal for the US on Thursday. He said that it will increase the US investment in new technologies like quantum computing, artificial intelligence, and biotechnology that would benefit all.

Though voicing its concerns and attempting to stimulate private sector participation in overseas ventures that compete with the BRI, Washington is still yet to persuade countries that it can provide an alternative to Beijing's state-backed economic vision.

Over 100 countries signed agreements with China to work together on BRI projects such as railways, ports, highways, and other infrastructure. According to a Refinitiv database, the program was related to more than 2,600 projects worth $3.7 trillion as of mid-last year.

However, China said last year that the coronavirus pandemic had affected about 20% of BRI ventures.

Countries that have criticized BRI projects as expensive and wasteful have often spoken out against them. After many countries tried to review, cancel, or cut back commitments, citing concerns about prices, loss of sovereignty, and corruption, Beijing downsized some plans.