Countries plan alternative to China “Belt And Road” initiative

Australia, the US, India and Japan are discussing the launch of a joint regional infrastructure scheme that would offer an alternative to China’s Belt and Road Initiative, the Australian Financial Review reported on Monday, citing an unnamed senior US official.

The plan was described as ”nascent“ and not ready to be announced during Australian Prime Minister Turnbull’s visit to the United States later this week, but was a matter of serious discussion.

China’s Belt and Road plan is a vehicle for the Asian country to take a greater role on the international stage by funding and building global transport and trade links in more than 60 countries. Chinese leader Xi has promised the equivalent of $124bn in funding for the plan.