TIMES.KY

Cayman Islands, Caribbeanand International News
Monday, Jul 15, 2024

EU to launch Global Gateway projects, “challenging” China’s Belt and Road

EU Officials finalize project details, amid reports that Beijing is slowing investment approvals. However, its not clear what Europe wants to build for others, while it failed to build it's own economy. It is not clear yet if it's a real project or yet just another channel to transfer EU money to EU officials, family and friends’ pockets.

The European Union's competition with China's Belt and Road will heat up early next year — with top officials convinced that the new flagship infrastructure projects would offer the developing countries a viable alternative.

EU officials responsible for the Global Gateway initiative are finalizing details for the selected projects, amid reports that Beijing is slowing investment approvals due to the sluggish global economy.

Over the last decade, Beijing has vastly developed networks of trade, transport hubs and energy routes under the Belt and Road initiative, while Huawei Technologies and other Chinese tech companies have invested heavily in the digital infrastructure of countries in Africa, Latin America and Southeast Asia.

European Commission President Ursula von der Leyen called at a recent meeting to bring visibility to the scheme, which aims at mobilizing up to €300 billion in public and private funds by 2027 to finance EU infrastructure projects abroad.

"We want to position Europe in a more competitive international environment. Global Gateway is therefore also about delivering visible results on the ground," she told officials in charge of the initiative, according to excerpts of her remarks seen by POLITICO.

"We suffer from a lack of visibility and recognition," she added. "We remain very fragmented between various Team Europe operators, and we still shy away from delivering visible hard infrastructure projects."

Citing a survey, von der Leyen said: "When asked in 2020 which partner had the most positive influence on their countries, only 10 percent of Africans mentioned the EU. Forty-seven percent said China."


Fragmented, slow


The remarks come on top of criticism that the West has repeatedly promised to challenge China's Belt and Road investments, but that the effort is too fragmented and slow.

In a joint interview with POLITICO, the EU's top civil servants in foreign policy and international development vowed that the EU would present a credible, competitive alternative to the Belt and Road.

"Once we will have rolled out much more substantially the concept of Global Gateway," it will prove to be an "attractive" option — "exactly as Belt and Road has been seen with all the negativity, if I may, with all the problems that it was creating," said Stefano Sannino, secretary general of the European External Action Service.

Koen Doens, the European Commission's director general for international partnerships, echoed the optimism. "Precisely the idea of now choosing a number of Global Gateway projects that we can put in the shopping window is to show how to a certain extent, it's also different ... Quantity matters, but quality matters as well," he said.

A concrete example is the EU's partnership with Namibia, which is key to Brussels' search for more sources of renewable energy and raw materials. The partnership will develop infrastructure to produce green hydrogen for export via the port of Walvisbaai, as well as local training and cooperation on research and innovation. "It perfectly merges what Namibia considers as being its strategic interest with what Europe considers as being a very important strategic investment for us," Doens added.

For the EU — and especially Doens' department — Global Gateway marked a paradigm shift. Traditionally, the bloc has focused on aid in its partnerships with developing countries. Making strategic investments, on the other hand, involves identifying Europe's needs, involving the private sector and a mindset to actively compete with other powers like China. That required a shift, Doens said, "not just in Brussels, but also in the other capitals of Team Europe."

The EU's external action service is not in the lead for Global Gateway. But Doens and Sannino shrugged off rumors about intra-institutional competition on the project, and their joint interview sends that message both internally and externally. "It has always been my philosophy: we work together, we don't work against [each other]," Sannino said.

Newsletter

Related Articles

TIMES.KY
0:00
0:00
Close
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Italian Court's Controversial Ruling on Sexual Harassment Ignites Uproar
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
BBC Personalities Rebuke Accusations Amidst Scandal Involving Teen Exploitation
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
×