Recently,the US announced its Build Back Better World(B3 W)initiative,followed by the Clean Green Initiative(CGI)by the UK and the Global Gateway(GG)by the EU.All driven by Western values,these infrastructure investme...Recently,the US announced its Build Back Better World(B3 W)initiative,followed by the Clean Green Initiative(CGI)by the UK and the Global Gateway(GG)by the EU.All driven by Western values,these infrastructure investment plans are global in scope,focused on soft infrastructure and intended to mobilize private capital through development finance institutions(DFIs).At present,all of them have entered the project selection phase.However,due to the inadequate capabilities of the US and Europe to deliver promised funds,their diverging policies toward China,the difficulties faced by their governments to leverage private capital,and the paradox of Western values,great uncertainty surrounds the results and effectiveness of these plans.Moreover,these plans may have difficulty in fundamentally affecting China’s Belt and Road Initiative(BRI).Yet it is still necessary for China to take heed of the combined impacts of these plans.Particular attention should be paid to the impacts of equity investments and the increasingly complex situations in surrounding countries.Related to these,China must reinforce the functions and roles of its financial institutions,whether development-oriented or policy-based,strengthen supportive policies,increase cooperation in new economic fields,improve infrastructure construction models,communicate relevant concepts,and foster more favorable public opinion.展开更多
文摘Recently,the US announced its Build Back Better World(B3 W)initiative,followed by the Clean Green Initiative(CGI)by the UK and the Global Gateway(GG)by the EU.All driven by Western values,these infrastructure investment plans are global in scope,focused on soft infrastructure and intended to mobilize private capital through development finance institutions(DFIs).At present,all of them have entered the project selection phase.However,due to the inadequate capabilities of the US and Europe to deliver promised funds,their diverging policies toward China,the difficulties faced by their governments to leverage private capital,and the paradox of Western values,great uncertainty surrounds the results and effectiveness of these plans.Moreover,these plans may have difficulty in fundamentally affecting China’s Belt and Road Initiative(BRI).Yet it is still necessary for China to take heed of the combined impacts of these plans.Particular attention should be paid to the impacts of equity investments and the increasingly complex situations in surrounding countries.Related to these,China must reinforce the functions and roles of its financial institutions,whether development-oriented or policy-based,strengthen supportive policies,increase cooperation in new economic fields,improve infrastructure construction models,communicate relevant concepts,and foster more favorable public opinion.
