German Media: EU's Infrastructure Plan Cannot Match China

According to a report on the German "Business Daily" website on November 12, the European Commission hopes to increase Europe's diplomatic influence through a plan to promote strategically important infrastructure projects. The plan will provide 40 billion euros in guarantees for the construction of new roads, railways and data networks as a European response to China’s “One Belt, One Road” initiative.

It is reported that the European Commission will announce the "Global Gateway" strategy next week, the core of which is financing commitments. For European Commission President von der Lein, this strategy is of great significance. When she took office, she promised to create a "geopolitical committee" and announced the "global gateway" strategy in the most recent "Alliance Address." However, this strategic document of the European Commission is far from meeting the expectations von der Leinen aroused at the beginning of the announcement. It neither lists any specific projects nor sets any clear geopolitical priorities.

Instead, it stated in a less confident way: “The EU seeks to balance the increasing investment from the rest of the world, using connectivity to spread its economic and social models and advance its political agenda.”

The report noted that it is clear that this EU strategy is aimed at China. But the European Commission’s strategic document so far has made financing commitments too small to match China’s “One Belt, One Road” initiative. Although in addition to the EU’s 40 billion euro guarantee, the EU budget will provide billions of euros in subsidies. In addition, there will be additional investment from a development assistance program in the next few years. However, there is no precise information on how public assistance can be supplemented by private capital.

A European diplomat clearly expressed his disappointment: "This document missed the opportunity and severely hit Von der Lein’s geopolitical ambitions."