December 04, 2023
America’s Chance to Blunt China’s Encroachment
While the U.S. rightfully focuses on bringing its hostages home from Gaza and alleviating broader tensions in the Middle East, the U.S.-China competition continues unabated. The supplemental funding package for Israel that President Biden proposed in October contains a $1.25 billion funding request for the International Bank for Reconstruction and Development—a part of the World Bank—to help developing nations such as Kenya, Morocco and Nigeria get loans from Western organizations instead of from China. Congress should endorse this package and enact additional measures to weaken Chinese economic influence in the developing world.
If the U.S. spreads its efforts too thin or focuses primarily on military power at the expense of economic diplomacy, it will lose this competition.
For a decade, China has pushed its Belt and Road Initiative—an ambitious project aimed at linking countries around the world through railways, pipelines and other infrastructure financed by Chinese state-owned banks. The U.S. can offer better partnerships to secure countries’ futures while making the U.S. economy more resilient.
Read the full story and more from The Wall Street Journal.
More from CNAS
-
Video
Indo-Pacific Security / Energy, Economics & Security
Trump Unfriends Modi's India: Trump Frothing, India CalmFrom tariffs to tantrums-Trump's latest anti-India tirade stirs global concern. As Washington watches in disbelief, Shiv Aroor discusses what this "break-up" means for India-U...
By Daniel Silverberg
-
Commentary
Indo-Pacific Security / Energy, Economics & Security / Technology & National Security
Selling AI Chips Won’t Keep China Hooked on U.S. TechnologyU.S. policy should not rest on the illusion that selling chips can trap China inside the American tech ecosystem....
By Janet Egan
-
Commentary
Energy, Economics & Security / Technology & National Security
What the U.S.-EU $40 Billion Chip Deal MeansThe U.S.-EU framework exemplifies a recurring challenge in modern trade diplomacy: the tension between political symbolism and operational substance....
By Pablo Chavez
-
Podcast
Transatlantic Security / Energy, Economics & Security
LISTEN: Why It’s So Hard to Go After Russia’s Oil RevenueEmily Kilcrease, senior fellow and director of the Energy, Economics, and Security Program at the Center for a New American Security, joins the show to talk about secondary ta...
By Emily Kilcrease
