Australia, Japan join USA infrastructure push in Asia to counter China

Pompeo to unveil investment push in Indo-Pacific | TheHill

In a speech before the US-India Business Council of the US Chamber of Commerce on Monday, Secretary of State Mike Pompeo outlined the Trump administration's Indo-Pacific economic strategy, seen by many as the response to China's Belt and Road initiative.

"These funds represent a down payment on a new era in U.S. economic commitment to peace and prosperity in the Indo-Pacific", Pompeo said.

Mike Pompeo said the United States would oppose any country that seeks to dominate the region.

The new US initiatives and funding would be focused on digital economy, energy and infrastructure, Hook said, without giving any figures on investment amounts.

"While we work with our partners to craft better and higher-standard bilateral trade agreements, our companies are continuing to advance United States economic interests by growing our presence in the region."Speaking to the same conference, commerce secretary Wilbur Ross listed reasons why the Trump administration was uninterested in a regional deal."At the end of the day, our relationships tend to end at the bilateral", Ross said".

The $113 million in assistance will clearly not scratch the surface of the financing needs in the Indo-Pacific region. More than one-third of the global population is there.

"The US has a strong interest in also supporting all of the trading connectivity and being part of it", she said adding that American business, technology and capital has an important role to play.

"It is a made in China, made for China initiative", Hook said, according to Reuters. We're looking for partnerships.

Trump addressed the issue on Twitter in April, writing, "While Japan and South Korea would like us to go back into TPP, I don't like the deal for the United States".

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The United States' first outlined its strategy to develop the Indo-Pacific economy at an Asia-Pacific summit past year. "We know that India is a very important market for the countries of Asia and we want to support that greater collaboration in the region", she said.

US President Donald Trump's economic strategy for Australia and the rest of the Indo-Pacific region will be unveiled at a major event in Washington DC.

"In all these areas - digital economy, energy, and infrastructure - we look forward to working with allies and partners", Pompeo added.

"This is key to worldwide peace".

"When we say we want an "open" Indo-Pacific, it means we want all nations to enjoy open access to the seas and the airways".

"This is created to provide mechanism that will allow more private-sector funding for the infrastructure projects that countries in this region need", Kirchner said. Still, he frequently sought to frame United States companies as the better partners for countries seeking foreign investment.

Expanding energy commerce by growing foreign energy markets, expanding public-private partnerships, and fostering business-to-business connections.

The US also announced strengthened support for important regional institutions, including the Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, the Lower Mekong Initiative, and the Indian-Ocean Rim Association.

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