How Biden plans to checkmate China

By | July 31, 2022

Compare news coverage from around the world and across the political spectrum with Ground News:

#Biden has launched two new initiatives to rival China’s international commercial ambitions. Can #America beat #China at its own game?

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Geo-political battle lines are being Drawn president joe biden has launched Two new initiatives to rival china’s International commercial ambitions One is a global infrastructure program That looks to build physical and digital Infrastructure connecting dozens of Countries spanning asia africa and Europe The other is a trade bloc in asia Pacific that encourages western Businesses to relocate elsewhere in the Region away from china It took washington more than 10 years to Develop these two programs up until now There was no credible alternative to Chinese investments And though the details have yet to be Negotiated the two initiatives make up The hallmarks of biden’s foreign policy So what is this about and can america Beat china at its own game [Music] Today’s video is sponsored by ground News i’ve been using this website and App for months to get a well-rounded View of the issues i discuss on this Channel it’s essential to understand the Story behind the story and i highly Encourage you to check it out as a Resource today they’re giving caspian Report viewers 15 off so you can get Access as little as a dollar a month let Me show you how it works here i can

Quickly see how biden’s 600 billion Dollar investment plan is being covered By news outlets around the globe first Ground news rates the political bias of The sources reporting so i can see that From a political perspective the Coverage is quite well distributed Between the left centre and right Leaning publications what’s interesting Is how different countries are covering This news outlets from canada france Germany britain saudi arabia japan Ukraine and russia have all reported on The plan but unsurprisingly no news Outlets in china are covering this story I love how i can easily move between These different outlets to see how They’re framing this issue for a more Nuanced perspective we live in a Increasingly complicated world and it’s About time we modernize the way we read The news go to Caspian to take advantage of this One-time offer and support a small team Of media outsiders working to make the News more transparent Writing the new rules of the 21st Century economy is not easy at the g7 Summit in june 2022 biden and his Counterparts launched the partnership For global infrastructure and investment Or pgi at heart the pgi is a reinvention Of biden’s previously proposed built Back better world initiative which

Sought to counter china’s belt and road Initiative Drafted in 2021 Built back better world gained little Traction despite vigorous lobbying the Primary problem was gathering support For the initiative at home consequently The lack of public commitment made it Difficult for washington to finance the Project independently not surprisingly Built back better world failed to pass In congress Now roughly a year later biden has Reached a new deal to spread the burden Of financing by teaming up with the Other g7 countries the new plan is for The g7 nations to mobilize 600 billion Dollars over the next five years to Invest in global infrastructure projects Most of these projects will take hold in Middle and low-income countries and most Projects will be geared towards four Categories renewable energy healthcare Gender equity and digital infrastructure Biden says that the plan will allow Participating nations to see the Concrete benefits of partnering with Democracies Either way the united states has pledged To contribute 200 billion dollars to the Initiative while germany france and Italy will raise 300 billion euros and The remaining of the total grant will Come from the united kingdom canada and

Japan how much funding will come from The private and public sectors is Unknown Though impressive america’s partnership For global infrastructure initiative Still falls short in funding compared to Its rival the belt and road initiative Beijing’s infrastructure project doesn’t Have an official price tag but china has Invested about 800 billion euros across The globe which surpasses the Investments promised by the g7 and china Isn’t done yet Trillions more dollars are expected to Be invested through the six arms of the Belt and road initiative in the coming Decade What’s more according to official Chinese data beijing has signed more Than 170 cooperation agreements with 125 Countries and another 29 agreements with International organizations across asia Europe africa and south america Matching the size and scope of china’s Grand strategy will be tricky even for The g7 nations but perhaps the biggest Issue with the pgi the elephant in the Room if you will is that the united States is bad at infrastructure Investing in fact america is bad at Maintaining its own physical Infrastructure Let alone working on infrastructure Projects abroad it is by no means an

Accident In 2020 chinese firms won 2.3 billion Dollars worth of contracts outside china While the united states gathered only 27 Million dollars worth of contracts 2.3 billion versus 27 million is a Staggering difference america has a lot Of strengths but china is just better at Building Nevertheless biden’s project could give China a run for its money The pgi could provide some recipient Nations with a feasible alternative to China If implemented the g7 infrastructure Plan would reduce beijing’s influence in Some places for instance in angola 2 Billion dollars will be invested in a Solar powered project while 600 million Dollars will be invested to build a Submarine telecommunications cable Connecting singapore to france through Egypt and the horn of africa still more A multi-million dollar vaccine Manufacturing facility will be built in Senegal these projects and many others Like it would be constructed by either American or european companies doing so Makes the partnership for global Infrastructure initiative less of a Charity act and more of an investment to Deliver returns for everyone Yet as promising as it sounds in some Places where the arms of the belt and

Road initiative pass central asia for Instance the geography and economy Depend on either russia or china biden’s Plan will make little to no difference In such places The second part of biden’s end game is The trade aspect one month before Signing the pgi in may 2022 biden had Rolled out a new type of economic Agreement that included 13 nations in Asia pacific japan india australia south Korea indonesia thailand singapore Malaysia the philippines vietnam new Zealand fiji and brunei The deal adopt the indo-pacific economic Framework for prosperity or ipef for Short is biden’s pivot to asia to Contain chinese commerce at sea The ipef comes five years after trump Abandoned obama’s trans-pacific Partnership agreement Trade deals are notoriously disliked in The united states which is why obama’s Proposal failed to deliver biden however Is going in another direction something More flexible and loose Unlike its previous iteration the ipef Does not guarantee free trade between Its members instead it is an Understanding to deepen cooperation Between the united states and the Asia-pacific nations the details have Yet to be negotiated but taken together With the united states the indo-pacific

Economic framework for prosperity Represents about 60 percent of the world’s population and Nearly 40 percent of the global gdp Those are some serious numbers the Purpose of the economic alliance is to Counter china’s influence by enhancing Political and economic cooperation Within the region The ipef will focus on four pillars Supply chains renewable energy Anti-corruption and maritime trade the Members of the economic bloc will enjoy Certain advantages from american Companies that are looking to relocate Away from china So as western businesses move away from China in the coming decade the ipef has The potential to fill the vacuum India vietnam thailand malaysia Indonesia and the philippines have large Workforces that could step up and fill The void the shortcoming however is that Without greater access to the us market The ipef will lack the gain changing Incentive to tip the balance the terms Are still being negotiated and the talks Could last until 2023 but the Fundamental question is whether or not Washington will offer lower tariffs or Access to the u.s market but since trade Deals are difficult to close in the United states the full reach of the ipef Is yet to be determined

Biden and his asia pacific counterparts Know this and see the indo-pacific Economic framework for prosperity as a Stop-gap policy that holds on to the Belief that american domestic politics Will come around and pivot to asia a Sincere pivot this time By any means the greatest misconception In geopolitics is seeing the global Order as a stable immutable structure America is still number one in criteria Such as military economy and diplomacy But the new kids on the block are Increasingly challenging that role China’s belt and road initiative has had A 10 year head start and while the pgi And the ipef are presented as america’s Triumphant counter move it ultimately Boils down to execution A bad plan that is well executed will Yield better results than a good plan That is poorly executed I’ve been your host shivan from caspian Report help us beat the algorithm by Commenting liking and sharing this video Thank you for watching and sahol [Music] [Music] You

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