China appears to be rebranding its multi-billion-dollar Belt and Road Initiative (BRI), bracing for competition with US President Joe Biden’s Build Back Better World (B3W) initiative, which lays emphasis on transparency and democratic values. More Rhetoric and realityAsked how China views the B3W as a rival to the BRI, Han said at present, there is a huge gap in infrastructure investment in the world, especially in developing countries, and BRI will not be a solo act for China, but a real chorus for all countries to get involved. The lack of transparency of BRI agreements and mounting debt to China by smaller countries have raised global concerns. In his recent address to the UN, President Xi announced that China will not build new coal-fired power projects abroad. He said China will lay greater emphasis on the sustainable development of BRI cooperation.

Source: The Hindu November 13, 2021 14:50 UTC