EU to reveal details of global investment plan to challenge Chinese influence

EU to reveal details of global investment plan to challenge Chinese influence
December 1, 2021, 1:29 am

European Commission-Brussels/Pixabay-

The BBC reported, the EU is to reveal details of a global investment plan that's widely seen as a rival to China's Belt and Road initiative.

Insiders say it'll set out "concrete" ideas on digital, transport, climate and energy schemes.

It's regarded as part of the West's efforts to counter Chinese influence in Africa and elsewhere.

European Commission President Ursula von der Leyen will present the "Global Gateway" initiative on Wednesday.

China-Shanghai/Pixabay

The EU is looking at how it can leverage billions of euros, drawn from member states, financial institutions and the private sector.

Mrs von der Leyen said in her State of the Union speech in September: "We want investments in quality infrastructure, connecting goods, people and services around the world."

Wednesday's 14-page document isn't likely to explicitly pitch itself as a rival to China's strategy. The Commission also studiously avoided mentioning China when pressed about the plans on Tuesday.

Belt and Road has been a centre-piece of Chinese foreign policy; developing trade links by ploughing money into new roads, ports, railways and bridges.

The strategy has reached into Asia, the Indo-Pacific, Africa and even into the EU's nearer neighbours in the Western Balkans.

Source: BBC

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