This would in turn secure regional supply chains, boost trade connectivity and economic activity — all similar to objectives underpinning China's Belt and Road Initiative, a global infrastructure investment strategy that Beijing launched in 2013.
- | Afp | Getty ImagesThis Biden-led initiative will comprise of two separate corridors, the east corridor connecting India to the Middle East and the northern corridor connecting the Middle East to Europe.
Middle East influenceChina's BRI offers a glimpse into Biden's ambition and perhaps what his infrastructure pact will come up against.
Debt risksEven then, China's 10-year head start offers some cautionary lessons for Biden's global infrastructure pact.
"25% of debt of emerging markets is treading in distressed territory," IMF's Managing Director Kristalina Georgieva told CNBC on the sidelines of the Delhi G20 leaders' summit.
Persons:
Crown Prince, Mohammed bin Salman, Narendra Modi, Joe Biden, Ludovic Marin, Recep Tayyip Erdoğan, Evan Feigenbaum, Emmanuel Macron, Joko Widodo, Luiz Inacio Lula da Silva, Gandhi, Biden, China's BRI, Beijing's BRI, Chong Ja Ian, Kristalina Georgieva, Janet Yellen, Chong, Modi
Organizations:
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Locations:
New Delhi, Turkey, Delhi —, Beijing, U.S, Raj, India, East, Europe, UAE, Saudi Arabia, Jordan, Israel, Delhi, Democratic Republic of, Congo, Zambia, Lobito, Angola, Middle, Shanghai, London, China, United Arab Emirates, Washington, Saudi, Iran, People's Republic of China, New York, United States