A new front in the US-China trade war has opened up and that’s foreign investment. In the beginning of October, President Trump signed the Better Utilization of Investments Leading to Development, or BUILD Act. It combines several smaller government agencies into the new US International Development Finance Corporation, or IDFC with 60 billion dollars to invest in developing nations around the world—mostly in Africa. The goal is to counter Chinese investment in Chinese leader Xi Jinping’s Belt and Road Initiative.
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Sources:
http://fortune.com/2018/06/15/trade-war-trump-china-tariffs-50-billion-approved/
https://www.wsj.com/articles/u-s-to-strengthen-controls-on-nuclear-technology-exports-to-china-1539287722
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https://qz.com/africa/1423506/china-africa-debt-us-will-invest-60-billion-overseas-to-beat-chin-at-development/
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https://ichef.bbci.co.uk/news/660/cpsprodpb/16B3/production/_96211850_hambantotaportarial.jpg
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http://sunshinestatenews.com/story/ted-yohos-foreign-aid-reform-bill-clears-house?utm_source=Constant%20Contact&utm_medium=email&utm_campaign=News%20Alerts
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