BBC News
December 1, 2021
The Global Gateway project is being launched to compete with China
The European Union is set to launch a global investment project called the Global Gateway, which is thought to be an attempt to undermine China's Belt and Road project.
EU President Arsala van der Leyen expressed hope that Global Gateway would be a trusted brand. China has funded railway, road and port projects, but it is alleged that the countries involved are heavily indebted.
EU sources said the effort would include concrete projects in the "communications, energy, environment and digital" sectors.
The general idea about the plan is that it was created by Europe to counter China's growing influence in Africa and other parts of the world.
European Commission President Arsala van der Leyen will present details of the 'Global Gateway' project next Wednesday.
The European Union (EU) is considering raising billions of euros from EU member states, financial institutions and private investors for projects under the plan.
In his annual State of the Union address in September this year, the President of the European Commission stated that "we need to invest heavily in quality infrastructure that facilitates travel and transportation of goods."
The 14-page preliminary document of the Global Gateway project does not say that it is designed to counter China's strategy.
The commission deliberately avoided naming China on Tuesday, despite repeated inquiries about the plan.
Andrew Small, a German martial fund expert for the Atlantic region, says his background cannot be denied. He says if the Belt and Road project had not been launched by China, the idea of a global gateway would not have come up.
According to him, this is the first serious attempt by Europe to formulate such a package and set up an investment system so that the countries which are getting loans from China also have alternative sources available.
The Belt and Road is an important part of China's foreign policy. Under which money is being invested in the construction of roads, ports, railway lines and bridges to establish trade links.
The strategy extends from the Far East and Southeast Asia to the western neighbors of Africa and the European Union's Balkans.
China's strategy has been sharply criticized, calling it a "trap loan" and "diplomacy of the debt trap".
But in the opinion of some people, this is not a straightforward matter and there are many complications because obtaining big loans is never without risk. China has created a vacuum that others have not been able to fill. China's economic, political and defense influence is growing amid growing tensions between the West and China.
Andrew Small says that now that the EU is trying to increase its influence and resources, it could be a big test for him. The question arises as to whether the European Union can play an effective role in this global politics.
"Or it is so entangled in its internal bureaucratic squabbles that it can play a role." He argues that if it fails, it will miss out on a great opportunity.
One diplomat says it is a good omen that Europe has finally begun to use its influence in the region.
He added that it was a matter of common interest and involved the European Union's Atlantic allies, the United States and Britain.
Scott Morris, an expert at the Center for Global Development, says that common interests create an atmosphere of competition.
He said the United States had announced the launch of its "Bloodback Better World" project last June at the G7 summit. Scott Morris said there is a lot of noise and different brands are colliding. But he was optimistic about the success of the Global Gateway project.
He said that more important than China was that Europe should become a source of investment for developing countries.
The plan will be presented to the President of the European Commission after its approval on Wednesday at a meeting of the Commissioners of the European Union.
The European Union has insisted that it seeks to establish a transparent and values-based system that facilitates relations with other countries rather than enslaving them.
