Western responses to the China challenge

David Skidmore ()

Chapter 5 in China, the West and the Global Development Finance Regime, 2025, pp 116-138 from Edward Elgar Publishing

Abstract: This chapter explores Western responses to China's bilateral and multilateral development finance initiatives. While the United States has criticized and rejected both the BRI and the AIIB, the broader West has taken a more differentiated approach. Many G7 and EU members have joined the AIIB. A handful of smaller EU countries have signed BRI MOUs, but most Western countries, including the larger economies, have taken a wary attitude toward the BRI. The dominant Western response has been to compete with the BRI by rolling out a series of Western infrastructure initiatives aimed at the developing world, built around a mix of public and private financing. This approach, focused on competition through emulation rather than differentiation, provides the strongest evidence that competitive pressures have led to convergence far more than divergence in the development finance regime.

Keywords: Partnership for Global Infrastructure and Investment; Blue Dot Network; International Development Finance Corporation; Lobito Corridor; Quality Infrastructure Investment Initiative; Billions to Trillions (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035334360
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