Opinion | How the West can learn from China’s Belt and Road Initiative and vice versa
- The G7’s Build Back Better World plan, US Blue Dot Network and EU’s connectivity strategy can learn from China in offering more flexibility to the global south
- Meanwhile, the Belt and Road Initiative can learn to be more transparent
More than a year into the pandemic, chaos remains in the once very efficient and “lean” global supply chains. The pandemic has interrupted the normal flow of goods, creating bottlenecks at different stages of the global production network.
Many commentators see these issues as showcasing the need for more diversified supply chains and bringing production closer to consumer markets. Although this diversification is slowly happening, the reality is that without more investments in infrastructure around the world, diversification will be impossible.
Addressing this infrastructure deficit – estimated to grow to US$15 trillion by 2040 by the World Economic Forum – in a post-Covid-19 world will require a massive effort.
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Stranded Ever Given partially refloated after blocking Egypt’s Suez Canal for nearly a week
