Tuesday, 31 July 2018

US set to spend $113m investment in Asia



The US is set to spend $113m on digital economy, energy and infrastructure in Asia, a move seen as an attempt to counter China's growing influence.

 
US Secretary of State Mike Pompeo made the pledge while outlining the "Indo-Pacific" economic strategy in a speech to business leaders in Washington.


He said the US believed in "strategic partnerships not strategic dependency".


The announcement comes at a time when the US and China are butting heads in a tit-for-tat trade war.


The Trump administration strategy to build influence with a regional grouping identified as the "Indo-Pacific", which includes the US west coast, South East Asian nations and India, is seen as a response to China's Belt and Road initiative.
But the funds will be seen as a drop in the ocean compared to the billions Beijing has poured into the rebuilding of ports, roads and railways across Asia and beyond.




BBC      News.