WASHINGTON: The global infrastructure plan announced by G7 leaders aims to offer developing nations a credible alternative to China's much-criticised Belt and Road Initiative - but it faces major hurdles on the ground, especially if Beijing's hiccups are any indication.
China launched the project in 2013, aiming to develop land and sea infrastructure that would link Asia, Europe and Africa to China. "The risks for both the United States and recipient countries raised by BRI's implementation considerably outweigh its benefits," said a task force from the Council on Foreign Relations , which has scrutinised hundreds of projects and their implications.In Africa in particular, China has succeeded in obtaining contracts by pricing its projects much cheaper than competitors.
How can companies be convinced to set up projects in the Sahel in the face of terrorist threats? Once a project is carried out, such as a school, how could it be guaranteed that a teacher would want to settle in a remote region? Why build infrastructure which after completion is likely to be destroyed by local militias?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China, Russia have ‘no choice’ but to strengthen strategic and military ties in face of G7 and Nato, observer saysMoscow and Beijing, both facing confrontation from the West, are likely to strengthen their alliance regardless of the outcome of a US-Russia summit, observers say. US President Joe Biden is expected to raise contentious issues with his Russian counterpart Vladimir Putin when they meet in Geneva on Wednesday to discuss the deteriorating relationship between the Kremlin and the West. China and Russia, meanwhile, have “no choice” but to move closer, especially after the G7 and Nato leaders took a Can someone care to enlighten us what this so-called 'rules-based international order' is, especially in contrast with to 'facts-based accountability'?
Source: YahooSG - 🏆 3. / 71 Read more »
US won't back global tax plan with carve-outs for China - YellenU.S. Treasury Secretary Janet Yellen on Wednesday said she expects the United States to decouple in some areas from China to protect its national ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Backup plans in place for government websites, says Smart Nation group in wake of global Internet outageSINGAPORE: Government websites can restore their services if their content delivery network (CDN) providers fail, the Smart Nation and Digital ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Putin and Biden face-to-face in GenevaBoth have said they hope their talks can lead to more stable and predictable relations, even though they are at odds over everything from arms control and cyber-hacking to election interference and Ukraine.
Source: YahooSG - 🏆 3. / 71 Read more »
China, Russia have ‘no choice’ but to strengthen strategic and military ties in face of G7 and Nato, observer saysMoscow and Beijing, both facing confrontation from the West, are likely to strengthen their alliance regardless of the outcome of a US-Russia summit, observers say. US President Joe Biden is expected to raise contentious issues with his Russian counterpart Vladimir Putin when they meet in Geneva on Wednesday to discuss the deteriorating relationship between the Kremlin and the West. China and Russia, meanwhile, have “no choice” but to move closer, especially after the G7 and Nato leaders took a Can someone care to enlighten us what this so-called 'rules-based international order' is, especially in contrast with to 'facts-based accountability'?
Source: YahooSG - 🏆 3. / 71 Read more »
Is vegan leather more durable than animal leather? Should you switch?From Cartier to Hermes, an increasing number of luxury brands are introducing leather alternatives to offer consumers the option to make a more conscious buying decision. Note: not all PU leather is animal-free. Some is all plastic, but some is tiny bits of animal hide mixed with a glue binder (much like how fiberboard is made from bits of wood and a glue binder). ANY 100% PlantBased leather alternative will be better for planet and animals.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »