Tuesday, November 13, 2018

WORLD_ U.S. Fights China for Influence, One Project at a Time

THE WALL STREET JOURNAL

ASIA


U.S. Fights China for Influence, One Project at a Time

Washington prods private sector and focuses on financing as Beijing’s ‘Belt and Road’ hits obstacles





Five years into China’s massive Belt and Road Initiative, the U.S. is trying to respond to Xi Jinping’s infrastructure-building spree. Illustration: Crystal Tai



By Niharika Mandhana
Updated Nov. 13, 2018 3:16 p.m. ET


HONG KONG—The U.S. has launched a new strategy aimed at ramping up investment in Asia to vie with Chinese President Xi Jinping’s overseas infrastructure-building spree, as Beijing grapples with setbacks to its sprawling program.

But China has a head start—and a state-led model that makes it easier to finance and build on a large scale. Mr. Xi’s Belt and Road initiative has offered hundreds of billions of dollars for railways, bridges and ports in dozens of countries, expanding its strategic influence along the way.

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READ MORE: https://www.wsj.com/articles/u-s-embarks-on-tortoise-vs-hare-investment-race-with-china-1542105003



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