The Belt and Road Initiative: The Threat of an Economic Cold War with China

As the US and the European Union dealt with the fallout of the 2008 financial crisis, China moved quickly to create the Belt and Road Initiative (BRI) in 2013. The aim was to develop ports, rails, roads and more, in nations around the world. China now has contracts in over 148 countries and provides loans and workers to fulfill these projects, all with hidden agendas. The intent behind the initiative is to economically dominate the world in short time, assuring China’s goal of becoming the most powerful nation in the world. There is a growing mistrust of the BRI in recipient countries, between the elites and the populations at large. To combat the initiative, Europe is hoping to evolve a Global Gateway (GG) and President Biden is calling for a Build Back Better World (B3W) to attract a global network for developing nations with needed funds. Also outlined is the New EU–US sponsored Marshall Plan (NEMP), borrowing the best concepts from the original 1948 Marshall Plan, to assist in combating the statecraft of China.