EU counters China’s growing influence with a global investment plan

EU counters China's growing influence with a global investment plan
Twitter/Inner Mongolia

EU counters China: The European Union is all set to reveal details of a global investment plan. It aims to counter Chinese influence in geopolitics. This plan is widely seen as a rival to China’s Belt and Road initiative (BRI).

As per sources, the EU plan will set out concrete ideas on digital, transport, climate and energy schemes.

It is being seen as part of the West’s efforts to counter China’s influence in Africa and other regions.

European Commission President Ursula von der Leyen presented the ‘Global Gateway’ initiative today.

The EU is now looking at ways to leverage billions of euros, drawn from member states, financial institutions and the private sector.

What the EU is eying for are investments in quality infrastructure, connecting goods, people and services around the world.

The EU’s Commission also avoided mentioning China when it comes to pitching its plan.

This plan from the EU can be seen as the first serious effort to figure out financing mechanisms countering Beijing. It will materialise the existing alternative for the countries considering taking loans from China.

Moreover, the Belt and Road (BRI) have been a centre-piece of China’s foreign policy. It aims to develop trade links by ploughing money into new roads, ports, railways and bridges.

EU counters China

This is a shadow initiative to trap less developed countries in the name of funding their infrastructure needs.

The strategy has reached into Asia, the Indo-Pacific, Africa. It has even reached the far corners of the EU’s nearer neighbours in the Western Balkans.

In the past, BRI faces criticism by world nations as a means of providing predatory loans, calling it debt-trap diplomacy.

Besides, the BRI seems to tighten China’s economic and geopolitical footprint.

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But the bigger question is whether the EU will be able to act in this geopolitical space or not?

Furthermore, the US has its own ‘Build Back Better World’ initiative.

Also, the Global Gateway initiative will be a good chance for Europe to achieve an alternative to financing for the developing countries that need some capital.

The EU is also reiterating its values-based and transparent approach that it aims to create links, not dependencies.

This remains about the influence as well. As the Commission continues to look for ways to flex its muscles when it comes to the geopolitical stage. Not only this, but the EU is also trying to find out ways of containing the growing influence of China.

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