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
Fmr Chief of Staff Export-Import Bank; CEO NCSS
Commissioner for Development Banking
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.
Director, Statera Capital
President, Editor-in-Chief, Devex
Executive Vice President, Economic Innovation Group
Senior Managing Director, Ankura Consulting Group
Director for Economy, Special Competitive Studies Project
Founder and President, Wallace Global Impact
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