US revives two infrastructure projects in Asia to counter China’s OBOR

US revives two infrastructure projects in Asia to counter China’s OBOR

The US has revived two major infrastructure projects in South and Southeast Asia in which India would be a vital player, a move that could potentially act as a counter to China’s ambitious Belt and Road initiative. The Trump administration has resuscitated the ‘New Silk Road’ initiative, first announced by then Secretary of State Hillary Clinton in July 2011 in a speech in Chennai, and the Indo-Pacific Economic Corridor linking South and Southeast Asia.

A brief outline of the two projects was made available in the administration’s maiden annual budget yesterday, which indicated that the ‘New Silk Road’ project would be a public- private initiative in which India would be an important player. Read More…

 

 

Credit By: Financial Express

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