Opinion: How development lenders can regain the initiative from China

The United States, its allies, and partners may have the most auspicious and timely opportunity in years to regain the initiative over China in financing infrastructure in the developing world.

This is because of the very serious economic challenges facing China. While few expect the country to abandon its Belt and Road initiative and other international development strategies, there are a multitude of reasons to believe that domestic fiscal stimulus will be a much higher priority in Beijing for the next few years than financing development projects in low-income countries.

This creates an opening that must not be missed by those who believe in the free market rule of law approach to economic growth and development. It is also important to keep in mind that a better way to gain influence in the global south is by investing, rather than lecturing.