EU to Invest 300 Billion-Euros in Global Gateway Program
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- Опубликовано: 10 окт 2024
- The European Union is set to unveil it's Global Gateway program in which it will seek to mobilize 300 billion-euros for public and private infrastructure investments by 2027. The program is Europe's answer to China's Belt & Road initiative which began in 2013. Bloomberg's Maria Tadeo reports on "Bloomberg Markets: European Open."
Is this debt trap program from EU for developing country?
In Germany it took 5 year more just to finish one airport as planed. How would they build anything in africa? Money they have, but china also brings workforce and build themselves. Now thats something EU cannot do.
Not 5 but more than 10 years, if it makes any difference
Not only that, most of the EU has crumbling infrastructure which needs help.
lets go EUROPEAN UNION
let's give out tax money to other countries!!!
After the Russian invasion: Going to sell 25% stake of Hamburg Port to Chinese company.
China is not complaining... Global Gateway will be complimenting, not countering Belt & Road Initiative. There will be more and better connectivity. Chinese goods will be transported easily and efficiently. Only Global Gateway comes with one caveat.. to obtain the loan, that country must accept EU ideology and EU governmental interference. Both still need the loan to be paid back, both are still debt traps.
Furthermore, China's BRI is already starting to return profits and dividends. EU as early as 4 years ago already stated it does not want to miss the opportunity. Besides 18 EU nations signed up to China's BRI.
The supply chain backlog crisis in the US justified the need for more connectivity and infrastructure which are exactly what BRI was intended. BRI makes perfect sense suddenly.
Let's see how long this funding will last. Remember how the last EU proposal of $46 billion was ridiculed as a joke!
I think the EU is going to embarrass themselves. Hahaha 😂
Finally the EU has the right view of China. Why not wait and see what the results are of the Chinese and then determine if it is worth it and in the meantime focus on expansion in the east.
If china copy everything then why not EU can do it too ☺️
This is great news for the developing countries. However, let us wait until the first project breaks ground. Until then, it is like BBBW, a wish.
Data is showing 2026 instead of 2016 confused me.
Just print a trillion the USA dose it all the time
it work good so far kep brinting🙆🙆
And you can't buy shit for a dollar.
@@rangerdanger10 Between this infrastructure plan and China falling, inflation ruining US, EU will probably emerge oddly enough as not only the industrial, but already moral super power. Might actually start to heal our planet.
Who is going to build it? The European workers? Domestic workers? Where's the experience going to come from? What a joke!
Why so late to the party, dear EU?
One years since the global gateway announced , where is the 300B Euro
It’s not “counteracting the Chinese”, that whole rhetoric attacks the spirit of what African nations are doing. This is a win-win position, imagined, proven and developed by massive/unsustainable chinese growth. Now that growth is slower and the market is more competitive. Europe is reinventing their participation, and getting into the game. Despite completely disagreeing with the last 40 seconds, which looks like typical “western front” cold-war era propaganda to me, I really appreciated the story on the whole and love to see globalization continue
💃🕺-🎉g l o b a l i z a t i o n 🎉-🕺💃
The EU has declared China their strategic rival, it's their official stance. As such, investing 300 billion Euro into their border regions is in effect "counteracting the Chinese". Please also travel anywhere that isn't considered the Western world and you will see your liberties and most likely your standards of living rapidly declining, so what's up with the "Western" bashing? You just have to take a four hour flight from central europe to north africa, and already you aren't allowed to convert your religion, as an example.
No, it exactly countering China in order to prevent the Global South building infrastructure at last.
I can see how this will go:
Europe: Don't borrow 2Bn from China to build a dam that will solve your electricity problems. Borrow 2bn from us for advancing democracy programs and raising awareness of LGBT rights as well as for preserving the wonderful ecological ancient way of life of poor fishermen on the location where the dam should have been built.
The result: no electricity for people, country stays backward and poor as ever, just further 2Bn in debt that cannot repay and is forced to "structural adjustment" selling their public sector and resources to Europeans.
@@alexlazar4738 it think the text in the link that I provided directly from the eu was interpretable by anyone who bothered to read it. Do you disagree that that was the correct official release you were referring to? If so please post the official link
@@robertotomas It does not matter what official release says. Talk is cheap. Let's look at the actions and history.
Over the last 70 years the West gave its best effort to keep the Global South poor and undeveloped through real debt traps of the World bank and IMF with "structural adjustments”, at the same time inciting political instability and internal and external conflicts and controlling the South through puppet governments. Over the last 60 years the West has drained 152 trillion dollars from the Global South and net growth of the North depends on the appropriation from the rest of the world. China is putting an end to that through BRI, hence the new Cold war.
The modern history of the West and particularly of the US is a history of one long, relentless uninterrupted war against the developing world in order to keep them poor and undeveloped. What scares the living bejesus out of US plutocratic elite is not so much China's economic or military might but rather China's BRI initiative which undermines US dollar as a reserve currency and threatens to make the entire world developed. That's why they are financing extremists in these countries in the hope that they will burn all the power plants and destroy all roads, bridges, highspeed railways, ports...etc. that China is building there. The West had 70 years of time and far more resources than China to build this infrastructure there. Just ask yourself: Why didn't they do it? And do you think they intend to do it now?
The Belt And Road Must Pass The Horn Of Africa
China will definitely welcome this move because EU will be contributing to the ultimate goal of BRI.
Loans?
Debt trap is what they called
nice~ but is this what the world need now? i would rather u spend 300billions by providing vaccine to all developing country…
What people don't understand is that even if the EU only spends 300Billion on this plans, they serve as a relief for countries that desperately need infrastructures but do not want to get in bed with China, do not forget that the US also has the Build back Better initiative, so now there are 3 options on the table for developing nations to choose from. We all know that initially all countries will continue to choose the funding from China (because China has no criteria for projects to be approved), then a few others will use the US because of their geographic location (being too close to China) But even the US investment comes with a heavy diplomatic price to pay, EU funding on the Other hand is more neutral, is neither The US nor China.
Well it's probably gonna have a largeinterest rate... I find it interesting that it's a debt trap when china does it. We will see how the west does it.
Bravo!!
Anybody remembers Marshall plan and Molotov Plan? I think history is repeating itself once again..
Brexit was a very bad idea. Keep going EU.
especialy bad because they are look at what they a re doing to the poor migrants. and then WONDER why their society is collapsing....... HELLO you going to need some replacement population if you dont have children! ffs
Show me the money!
"...Billion-Euros"? Edit before you print, Bloomberg.
Very, very few are exactly literate enough to care (or quick enough to spot it.) And very, very, very few of those people ever consume this sort of media. And these media establishments do not, not, not care. There is no competition for information (journalism) occurring. There is no different information available from any other mainstream media source. The "market activity" or real competition taking place is seeing who can print -- nowadays upload, post, Tweet -- first. If they can cling to some views and manage to keep baby boomers paying for cable a little longer then they can go along gaslighting society with groupthink and avail themselves of inevitable ruin a few years.
talk the talk, walk the walk? no, talk is just the talk..;)
Damn she talks fast
idk
mabe they should invest that $$$
in a military of their own to protect their own borders
instead of running to nato every time
d bad guys show up, ie atm ukraine vs russia.
They love their charts.
Che Guevara right again
The reporter evidently didn’t know that the proper label for the Chinese initiative is ‘Belt and Road’. One has to wonder what other facts she has missed in her reporting.
Give her a break, this lady's an anchor! But I'm sure the real "journalism" was none too thorough as well.
She is a news presenter/ commentator and not a journalist.
@@jon_nomad Does that legitimizes the inaccuracies in the video?
@@gj8550 If it serves the national ideological narratives, then yes. If morally and ethically , then no.
@@jon_nomadTrouble is…America’s ideology are often influenced by the industrial military complex that priorities profits ahead of moral and ethics. Remember the war driven by the illusion weapon of mass destruction?
România oraș Alba Iulia localitatea Blaj numele Nițu Teodor Romică
You.crezy.
300 billion to China 1 trillion belt and road Eu always talk only
they talk like smart plan long time do ever nothing crazy so
What a bunch of fools.I could sort this shill fest out in weeks.
That's good for the developing world.
Unfortunately that’s not true in reality it might seem like it but it’s only good for the political elite in those countries
about as good for the developing world as a broke back and one way soul ticket on a prison train to hell
@@Houthiandtheblowfish it's not very often that those from the third world can realize this. 🙏🙏Many rewards for you from PBUH -- who is lying in pigs blood in the ninth ditch of the eighth circle of hell, penultimate to Satan's eternal suffering in the eternal frozen lake at the center of Hell. But He and His Son (PBUH) do roll around in pig's muck, mire, blood, and feces. God has made it for them as their righteous suffering.