New York, China’s growing influence on Asia, including Asia, has always been a concern for America. President Donald Trump has now made plans to counter it. This plan of Trump will challenge China’s One Belt One Road Scheme. Under this plan, America will also help them by funding developing countries like China.
What is the plan?
Trump has created the new US International Development Finance Corporation. They will be able to finance up to $ 60 billion in ongoing projects in developing countries. This money will be given as loan, loan guarantee and companies as insurance. Actually, so far Trump was against Forward Aid. In foreign aid, he also offered to cut up to $ 3 billion. He strongly opposed this in his election campaign, but now he has taken a U turn to counter China.
America is worried about China’s rising influence in Asia, Africa and Europe. For the past five years, China has been putting its money in big projects in these places. Apart from this, China is funding mainly Pakistan and Nigeria. Simultaneously, China also enters such countries, which can lead to political gains in the coming days. Loan, grants and money for investment, China Africa etc. is engaged in their own way. He is already working on the plan to implicate Djibouti and Sri Lanka. Countries like China, Pakistan, Sri Lanka, Maldives, Djibouti, Myanmar, are going to understand, but they are unable to do anything.
Explain that ‘One Area One Road’ (OBOR) project is China’s ambitious plan. It is being constructed on the lines of Silk Road. If you talk about funding, then Trump’s plan does not last anywhere in the face of a trillion dollar OBOR. But in countries where China has lost faith, they will now be able to get help from the US.