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Indiaexportnews.com

US Secretary of State sees 'Belt and Road' creating 'strategic dependency'

  08.08.2018    

US Secretary of State Michael Pompeo accused China of trying to create "strategic dependency" through its global Belt and Road infrastructure initiative, reports Bloomberg News.
Speaking to the US Chamber of Commerce in Washington, Mr Pompeo said the US believes in "strategic partnerships, not strategic dependency," a criticism of China's cheap financing for infrastructure projects in its Belt and Road scheme.
"With American companies, citizens around the world know that what you see is what you get: honest contracts, honest terms and no need for off-the-books nonsense," Mr Pompeo said. "We will help them keep their people free from coercion or great power domination."
Mr Pompeo said the US is working to build "higher-standard" bilateral trade deals, though many Asia analysts and even House Speaker Paul Ryan say the US decision is a mistake.
While we work with our partners to craft better and higher-standard bilateral trade agreements, our companies are continuing to advance US economic interests by growing their presence in the region," he said.
Mr Pompeo is also seeking to ensure that countries remain committed to maintaining economic sanctions against North Korea.



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