The Business Times
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Europe launches big ‘Belt and Road-style’ initiative

The launch of the new Global Gateway strategy is only the latest signal of a new, geopolitical EU

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    • While the EU's Global Gateway scheme is headquartered in Brussels, the project is focused on other regions, including the Asia-Pacific and Middle East.
    • While the EU's Global Gateway scheme is headquartered in Brussels, the project is focused on other regions, including the Asia-Pacific and Middle East. PHOTO: REUTERS

    Andrew Hammond

    Published Thu, Oct 26, 2023 · 05:00 AM

    THE last few days have been an unofficial, global “infrastructure week”, with the 10th anniversary of the Belt and Road (BRI) strategy in Beijing, and an official launch on Wednesday (Oct 25) in Brussels of the European Union’s Global Gateway strategy.

    Inevitably, much reportage has focused on the geopolitical ramifications of these two developments. Important as these are, however, organisations ranging from McKinsey to the Asian Development Bank (ADB) have highlighted that these massive projects don’t – inevitably – have to be competitive.

    The ADB, for instance, sees a regional infrastructure investment gap of some US$26 trillion in that area of the globe alone in the period to 2030.

    European UnionBelt and Road Initiative

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