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China continues to change the global economic landscape through its massive Belt and Road Initiative (BRI) infrastructure initiative, which has already covered more than 150 countries and attracted investments worth more than one trillion dollars.
According to The Wall Street Journal, the United States and its allies are facing new geopolitical challenges as they try to respond to China’s growing influence.
What China has achieved in 10 years
Launched in 2013, the BRI initiative has become a key tool for Beijing to expand its economic and political influence.
China finances and builds roads, bridges, railways, ports, airports and power plants around the world. Countries that have joined the initiative have received billions of dollars in loans from Chinese banks. The BRI gives China strategic influence in Asia, Africa, Latin America and even Europe.
The West’s dilemma: how to respond
The United States and its allies are faced with a difficult choice: either to create their own alternative to China’s BRI or to limit its influence through sanctions and diplomacy.
In 2021, the G7 launched the Partnership for Global Infrastructure (PGII) initiative as a competitor to the BRI, but its funding is much smaller. The US and EU accuse China of a “debt trap” when recipient countries are forced to give away strategic facilities due to the inability to repay loans. Washington is stepping up cooperation with India and the Indo-Pacific region to reduce dependence on Chinese investment.
What’s next
China says the BRI has entered a new phase focused on environmental projects and digital infrastructure.
However, the West sees the initiative not only as an economic project but also as a strategy for China’s global dominance. The US response to this challenge could determine the geopolitical balance for decades to come.
