China OBOR trillions appear to successfully buy global power sharing with USA, Europe and Japan
Michael Clauss is the German ambassador to China in the SCMP suggest two ways to deal with China’s Silk Road ambitions.
1. partner with China to close development gaps, while reinforcing the open, transparent and non-hierarchical world order, as seems to be working with the AIIB.
2. Europe could offer its own concept to act as another friendly pole with the power to attract. Local content – that is, maximum participation by local labour, local companies and local products – could be the signature of connectivity, European-style. Open tenders where the best offer wins, hopefully through a bid from the country where the project is built, would be another. Labour safety, environmental standards and fair and sustainable financing would be a third.
Japan’s Prime Minister has indicated that Japan will cooperate with the One Belt One Road if it is open and transparent.
The United States could be considering joining the China-led Asian Infrastructure Investment Bank.
This could result in a economic and geopolitically positive result.
A trillion dollar per year shortfall in infrastructure investment could be fixed. Fixing the infrastructure shortfall should boost global GDP growth.
There would be more growth in developed and developing countries and the world.