European Union approves 'Globally Connected Europe' to challenge Chinese BRI

Brussels/Washington/Beijing: – The European Union (EU) has challenged the ambitious Chinese Belt and Road Initiative. Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy, informed that the EU has approved the Globally Connected Europe plan during its meeting held on Monday. This European plan is the second jolt to the Chinese BRI. Last month, members of the G7 summit announced the B3W scheme.

Chinese President Xi Jinping announced the ambitious Chinese Scheme Belt and Road initiative in the last decade. The main objective of the scheme was to increase Chinese influence through infrastructure facilities in the various countries. China has made this scheme a part of its predatory economic policies, and it is being used to take over resources in the poor and underdeveloped countries. Intense reactions are being received over these predatory Chinese economic policies. All the world’s leading countries, including the United States and European countries, have started preparations to retaliate against it.

Two years ago, Japan had challenged the BRI scheme through its program Partnership for Quality Infrastructure. After that, last month, the G7 group severely jolted the Chinese BRI scheme with the announcement of the Build Back Better World (B3W) program. The scheme, presented with an initiative by US President Joe Biden, envisages financial and other cooperation to projects in poor and medium economies. Australia and New Zealand also announced financial aid for the smaller island countries in the Pacific sector.

Germany, France and Italy, the three leading European countries, are members of G7. The EU approving an independent plan to stop China, despite this, attracts attention. German Foreign Minister Heiko Maas justified the new EU scheme ‘China is trying to increase its influence in the world through economic and trade measures. Instead of only discussing this, there is a need to create a credible alternative for it.’ The statement released by the EU says that promoting the foreign and development policies of the EU, safeguarding security interests and spread of European values will be at the centre of the Globally Connected Europe scheme.

While the EU poses a challenge to the Chinese BRI, the United States indicated a United Front with Europe. US Secretary of Finance Janet Yellen proposed the front against China during a meeting with the officials of the EU. Yellen clarified that there is a need to unite to counter the threats posed to values like openness, transparency and healthy competition. A strong reaction has been received from China over the Yellen statements and the Chinese spokesman said that China denounces these statements.

Last month, the United States and EU decided to form the EU US Trade and Technology Council to counter the increasing Chinese influence in the trade and technology sectors. This proposal made by Yellen, following that, only demonstrates that the front of the western countries is becoming stronger against China.