Development Finance
Development finance is a pivotal arena in the ongoing rivalry between the United States and China. This landscape is defined by divergent strategies in capital investment, reflecting contrasting visions of global influence. China’s Belt and Road Initiative (BRI) is an example of China’s approach, funneling substantial funds into infrastructure projects across Asia, Africa and beyond. In contrast, the U.S. pursues development finance through institutions like the Overseas Private Investment Corporation (OPIC) and the newly established U.S. International Development Finance Corporation (DFC), focusing on fostering economic growth and stability.
Countries must choose between American and Chinese funding sources. A cheaper price tag might come with harmful potential political dependencies and long-term implications. The success of these initiatives significantly impacts the geopolitical landscape, shaping alliances and allegiances on the global stage. Thus, development finance serves as a dynamic battleground where the U.S. and China vie for influence by extending their economic reach and strategic partnerships.
Commissioner for Development Finance
After serving in senior economic policy positions in the U.S. government and in executive roles in the financial services sector, I have seen first-hand the critical importance of coordinated efforts among the U.S. government, our foreign allies, and global financial institutions to promote international development in parts of the world that are plagued by the predatory economic conduct of the Chinese Communist Party. I look forward to working with the Commission in outlining both defensive and offensive strategies to combat this behavior and promote vital U.S. national security interests.
Advisory Counsil
G7 summit: Leaders detail $600bn plan to rival China’s Belt and Road initiative
G7 leaders have detailed plans to mobilise $600bn in funding for the developing world in a move seen as a counter to China's Belt and Road plan.
Hidden Debt Plagues China’s Belt and Road Infrastructure Plan, Studies Find
Research on Chinese projects abroad points to other major problems like corruption, labor violations and environmental risks
The potential climate consequences of China’s Belt and Roads Initiative
The enormous infrastructure development effort could lock in heat-trapping greenhouse emissions for decades.