![lyn may 2020 lyn may 2020](https://www.tribuna.com.mx/u/fotografias/m/2020/8/18/f1280x720-139600_271275_5050.jpg)
Regardless of the extent to which India becomes involved, and wider infrastructure financing ultimately increases in the long run, for the time being amid the Covid-19 pandemic, many see the BDN as a valuable opportunity to counter what is increasingly perceived as a hostile Chinese presence on the world stage. The BDN remains very much in its early days. We’re open for business and you’ll see us be very active in this region,” he added. “The Indo-Pacific region will be a strong focus of the US going forward, and I would stay tuned for some very significant deals here. We have a significant amount of capital,” Boehler explained in a teleconference call in February.
![lyn may 2020 lyn may 2020](https://larepublica.pe/resizer/0J5tC2gUscu1CaXGYyGFtSb_0K0=/1200x660/top/arc-anglerfish-arc2-prod-gruporepublica.s3.amazonaws.com/public/JKB2OOB4TJGU3JMZHOPLRQJL7I.png)
![lyn may 2020 lyn may 2020](https://www.tribuna.com.mx/u/fotografias/m/2020/6/3/f1280x960-122230_297790_4924.jpg)
We catalyze private capital, so that represents hundreds of billions of dollars of potential investment. “I would emphasize the $60 billion we have is representative of our capital. If the countries were to ramp up their spending to 0.3%, that increase would be enough to allow the US and its allies “to compete with China as an infrastructure financier at its current scale” or “avoid being left behind if China increases its financing further.”Īccording to Adam S Boehler, chief executive of the United States’ new International Development Finance Corporation, significant spending is already under way and is being ramped up across the Indo-Pacific arena on track with targets. However, according to the results of a report from the Brookings Institute, the US and its allies do indeed have the financial capacity to keep up with, and even overtake, Chinese overseas infrastructure development.Īccording to the report, at present, each of the trilateral partners allocates around 0.2% of their gross national income (GNI) to official development assistance. Subsequent to the initiative’s launch, claims were leveled against the BDN for supposedly not being able to match China’s spending. “India must work with the US and others to adhere to the Blue Dot Network norms for infrastructure,” the editors wrote, pointing out that infrastructural development “can well lead India’s economic integration with global supply chains.” Subsequent to US President Donald Trump’s visit to India in February, however, interest appears to have been rekindled, with the Economic Times’ editorial board asserting in May that a close partnership between India and the BDR allies should be pursued. So far, the South Asian giant has expressed interest in the US proposal, although it has yet to commit to the same extent as the three other partners. The BDN’s success remains partly contingent on the involvement of a fourth member – India. There’s no reason why BDN shouldn’t be supporting economically viable infrastructure projects across Eurasia to help those countries avoid China’s debt-trap diplomacy,” Duncan D Penn, a senior economist at Paris-based Media Research Inc, told this author. “The trade volume between China and countries along the Belt and Road totaled $1.3 trillion in 2018. The agreement saw the US join forces with Japan and Australia to coordinate infrastructure projects around the world, with many positing that the group hoped to assert itself as the countervailing force against China’s BRI. While the BRI’s origins go back to 2013, the BDN is much newer, announced in November 2019 at the Indo-Pacific Business Forum in Bangkok. Newer and less well known, however, is the BRI’s American counterpart, the Blue Dot Network (BDN), which similarly seeks to develop international infrastructure and is beginning to show signs of offsetting Chinese influence. In recent years, China’s Belt and Road Initiative has heralded infrastructure development across much of the developing world with the aim of projecting the country’s influence abroad.