Is the US offering a quality alternative to China’s belt and road?
- The United States has partnered with the OECD to try to set high standards for infrastructure investment, particularly in the developing world
- But the US efforts should not be defined by China’s initiatives, observers say
When US Secretary of State Antony Blinken unveiled a new partnership with the OECD in Paris this week, the overt goal was to combat corruption and promote “high-quality” infrastructure.
“At a time when others are driving an approach to infrastructure projects and developing economies in which overseas companies import their labour, extract resources, fail to consult with communities, end up driving countries into debt, we’re here today because we’re championing a different approach,” Blinken said.
“Rather than race to the bottom, we together, with like-minded government, private sector, and civil society partners, we want to spark a race to the top for quality, sustainable infrastructure around the world.”
However, the US and China do not have to see themselves as competitors in this kind of funding, observers say.
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Belt and Road Initiative explained
The partnership falls under the banner of the Blue Dot Network, an initiative founded by the governments of Australia, Japan and the United States in 2019 to attract private investment into infrastructure, particularly in developing countries.