Home LATEST NEWS EU wants to counter China’s influence with hundreds of billions

EU wants to counter China’s influence with hundreds of billions

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Fiber optic networks, transport infrastructure, clean energy networks … The project, called Global Gateway, will bring together resources from the European Union (EU), the 27 Member States, European financial institutions and national development institutions, as well as private sector investments to better connect Europe with the rest of the world.

the digital, health, climate, energy and transport sectors, as well as education and research, will be a priority, underlined the Commission, which has endeavored not to mention China in its communication, even if its project will compete with the strategy of New Silk Roads.

Facing Beijing, Brussels intends to embody a more virtuous model in terms of human rights.

We want projects that are implemented with a high level of transparency, good governance and quality.

A quote from Ursula von der Leyen, President of the European Commission

Beijing launched in 2013 its global investment strategy for New Silk Roads, President Xi Jinping’s flagship project. Officially called the Belt and the Road, it aims to develop land and sea infrastructure to better link China to Asia, Europe and Africa.

The Middle Empire has already committed nearly 124 billion euros (over 179 billion Canadian dollars) in investments, according to its official data.

Tool for China’s influence on poor countries

Westerners accuse Beijing of inciting emerging countries to over-indebtedness, criticize non-transparent tenders, suspect corrupt practices and denounce non-respect for human rights and social and environmental rights.

Global Gateway is a new sign of the new determination of the European Union to establish itself as an economic, political, one day military actor on the international scene, told theAFP Bernard Guetta MEP (Renew group), member of the European Parliament’s Committee on Foreign Affairs.

If there is Chinese fatigue today in Africa, it is not only because of the incredible working conditions in Chinese factories on the African continent. It is also because China, shamelessly, tries by indebtedness to tie the hands of the countries in which it invests., he added.

[L’UE] may not be able to compete with China in quantitative terms, but it is ahead of the quality of investments. [Elle] must position itself as an antidote to questionable agreements.

A quote from Mikaela Gavas, expert at the American think tank Center for Global Development

Global Gateway follows in the wake of a plan by the G7 countries to offer developing countries an alternative to New Silk Roads, presented in June at the summit of the seven industrial powers in Cornwall (United Kingdom).

That […] while working for the strategic autonomy of theEU“,” text “:” will allow us to compete with China where necessary […] while working for the strategic autonomy of the EU “}}”>will allow us to compete with China where it is needed […] while working for the strategic autonomy of theEUPolish MEP Radek Sikorski said on Twitter.

During her State of the Union address on September 15, Ursula von der Leyen had already mentioned this new strategy. We are very good at financing roads. But it doesn’t make sense for Europe to build a perfect road between a Chinese-owned copper mine and a Chinese-owned port. We need to be smarter about these types of investments, she had declared.

With this funding, theEU also hopes to tackle vulnerabilities in its global supply chains revealed by the pandemic.

It is also an opportunity for new contracts for the firms of the Old Continent faced with gigantic needs. According to G20 estimates, the global infrastructure investment gap could reach 13 trillion euros (18.8 billion Canadian dollars) by 2040.

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