Is a Belated Western Rival to China’s Belt and Road Too Late?

A pedestrian crosses a bridge over a new 30-mile highway that was built by three Chinese companies and financed by the African Development Bank and the Exim Bank of China, leading north of Nairobi, Kenya, Oct. 10, 2012 (AP photo by Ben Curtis).
A pedestrian crosses a bridge over a new 30-mile highway that was built by three Chinese companies and financed by the African Development Bank and the Exim Bank of China, leading north of Nairobi, Kenya, Oct. 10, 2012 (AP photo by Ben Curtis).

Far more than they appeared to at first glance, two news stories in recent days have framed America’s position in the world at the outset of Joe Biden’s presidency in unusually stark and powerful ways. The first trumpeted a $400 billion investment agreement between Beijing and Tehran, with China vastly increasing its trade with Iran. It comes at a moment when the United States is hoping to force the Iranian government back to the negotiating table to reinstate and even broaden the international agreement aimed at preventing Iran from developing nuclear weapons. The Trump administration withdrew from that deal, reimposing […]

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