Calls on the rise for an alternative to China’s BRI as Beijing suffers serious reputation crisis
Beijing [China], April 7 (ANI): Although Chinese President Xi Jinping’s Belt and Road Initiative (BRI) is touted as a “ win-win ” step in 140 targeted countries around the world, recipient countries have realized that Beijing’s aid was not the kind of gesture they had hoped for, hitting Beijing with a serious reputation crisis and emboldening calls for an alternative plan.
According to The Straits Times, most of the countries involved in the initiative will inevitably have difficulty repaying debt service demands. This was seen when Sri Lanka admitted its mistake by exchanging its “debt trap” for a 99-year Chinese lease on the port of Hambantota.
Bhopinder Singh wrote that China’s no-questions-asked approach imposes no conditionalities on the host country to answer any sensitive questions about democratic freedoms, human rights and transparency.
However, Zambians, Ethiopians and Papua New Guineans now have serious doubts about Chinese entertainment, while their close partner Pakistan has reportedly witnessed murmurs of disapproval in the Senate.
Meanwhile, US President Joe Biden has proposed a multibillion-dollar alternative infrastructure plan to rival China’s BIS.
While more than 100 countries have already inked various subcomponents of the conceptualization of the Chinese BRI – fears of erosion of sovereignty, debt traps and inequality have led to an unprecedented fear of ‘l’ aid ” through the BRI, and therefore seek a more equitable option, if one exists, according to The Strait Times.
Singh wrote that the United States will need to deploy a more nuanced and holistic diplomacy, information, military and economic approach to countering the BIS, as the post-Trump era has left the new administration with the Herculean task of repair relations with his ostensible allies.
While not all countries share the same urgency, fear, or even plausible appetite to join an alternative to the existing BRI that directly offends the Chinese, conversations have already started. The alternative to the BIS may not only be feasible, but completely inevitable, according to The Strait Times.
With the COVID-19 pandemic having exposed Chinese machinations of downplaying initiatives that then ravaged global economies, the BIS is now suffering from a serious reputation crisis.
As the communist nation rolled out its grand initiative, isolated regimes such as Pakistan, North Korea, Venezuela, Iran, Bolivia, and Myanmar were naturally drawn into the BIS budget. More than 800 billion USD has been “invested” in eight years in the form of infrastructure projects or loans to more than 60 countries.
China had already shown its ability to turn major global crises into invaluable opportunities to nurture its own hegemonic instincts. The BIS imperatives projected at over $ 1 trillion are clearly aimed at desperate economies with no options, The Straits Times reported. (ANI)