It is too late to start an economic initiative against
BRI because Chinese ambitions are too clear from 2010. The foundation of QUAD
to counter China is a good move, but without economic initiative, a mistake.
The world is moving from geopolitics to geoeconomics and formulating a NATO
type of alliance is not suitable. The globalization and common interests
between the countries can’t cast a situation like Cold War 1.0. The Japanese
President was the first very active participant in this league, but after
analyzing that it is financial fatigue, Japan normalized its economic ties with
China. The trust deficit is faced by the USA in economic ties with other
countries. The Blue Dots couldn’t match the BRI in any aspect because of the
expansion of both ideas.
The BDN was announced by the USA, Japan, and Australia
in November 2019. In Pacific Business Forum, these three allies announced the
BDN’s infrastructure projects. Specialties of these projects are:
- Transparency
- Sustainability
- Development Impacts
The trade volume between China and the countries
joining BRI is about 1.3 billion dollars. The USA’s economic initiatives are to
save countries from the Chinese debt trap. But there are no solid steps which are
shown that BDN impacts the BRI. BDN doesn’t give any assurance while BRI
expands its network rapidly. The major causes are the slow pace of the plan and
no solid involvement by participants. The USA considered economic warfare as
China as an upcoming threat. While China’s thinkings are trade deals. The American
establishment is not coming out of Cold War thinking. Globalization and
technology changed the prospect of such a war.
The infrastructure war is not just infrastructures but
also communication gateways and then converted into securities pacts. Hanoi, Vietnam, and Hamburg, Germany;
between Lagos, Nigeria, and Johannesburg, South Africa; and from São Paulo,
Brazil, to Santiago, Chile are all interconnected by BDN, a project of I.7 trillion
dollars. The non-responsiveness towards BDN is that it is in
its early stages. The BRI has become a very mature subject a lot of wealth is
pure in it. For BDN experts suggested four steps:
- Sustainable Projects
- Strong Financial Aid
- Capable Academic Institution
- Set Indo-Pacific, Adriatic, Black, and Caspian sea countries as priorities
The first point is about the guarantee given to the members
to resolve all their concerns about climate change. The second is to use India,
Japan, and Australia’s financial power to secure the image of BDN and used it as
financial security. The third point is about the credibility of the project and
set it as a benchmark. The last is to set the priorities which are to save your
allies from your opponent’s influence. In the bipolar world, both polls try to
seek their power hegemony two steps ahead of the other. Here, China took the
lead. What solid steps take these four countries to counter BRI is a question
mark. The tension in the Strait of Taiwan and the South China Sea shows a different
picture. If BDN failed, the Cold War becomes hot.
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