Sub-title:
China’s overseas projects funded by debt from its own infrastructure banks are now viewed with trepidation, by both recipient countries for the potential debt trap.
Description:
"Global business and strategy analysts will be watching with keen interest any attempts US President Donald Trump makes to convince India to join its ambitious plan to counter China’s ‘Silk Route’ programme of port and highway constructions. Last November, the US, Japan and Australia unveiled the ‘Blue Dot’ infrastructure network, ostensibly to certify and promote infrastructure development, but in reality, it was to take on China’s BRI (Belt and Road Initiative) that is currently building a chain of roads and ports connecting most of the world to Beijing. The Western alternative has been in the making for some time as nations have voiced alarm at the cheque-book diplomacy of China through its BRI projects and their security ramifications. Soon after Blue Dot’s launch, US Commerce Secretary Wilbur Ross lost no time in pointing out that American direct investment into Asia had topped $1.6 trillion and that “our numbers will only get bigger”. It was quickly noted by China’s Global Times, which said, “Although China was not mentioned by name, it’s widely suspected that Washington’s new plan is directed against the China proposed BRI.” China’s pique is natural as analysts say Blue Dot could be backed with funding by Japan’s JICA and America’s newly founded International Development Finance Corporation and Ausaid, not to mention a host of global development finance windows backed by the West..."
Source/publisher:
"The New Indian Express" (India)
Date of Publication:
2020-02-25
Date of entry:
2020-02-25
Grouping:
- Individual Documents
Category:
Countries:
India, USA, China, Myanmar
Language:
English
Resource Type:
text
Text quality:
- Good
