2 years ago
Biden’s latest global infrastructure plan is all about competing with China. That’s a problem.
China’s Belt and Road Initiative (BRI), launched in 2013, is the centerpiece of Chinese President Xi Jinping’s ambitious effort to expand his country’s diplomatic and economic footprint. A massive infrastructure and development investment strategy, the BRI has funded bridges, ports, power plants, railways, tunnels, and 5G networks in the Global South, to the tune of $50 billion to $100 billion per year, according to an analysis by the Brookings Institution.
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