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China is reacting to the European Union’s initiative to lure the Western Balkans with more investment.
Although Chinese investment accounts for a relatively small share of foreign investment in the region compared to that of the EU, observers say there is growing concern about the billion-dollar Chinese-backed Chinese influence Beijing has invested since 2005. .
Financial estimates vary, however experts agree that Serbia receives 80% of Chinese investment in the Western Balkans. Until recently, the Western response to Chinese influence in the region was minimal.
Only recently have European officials considered some investments in the Western Balkans as part of the response to the Chinese One Belt One Road initiative.
Such is a $ 46 billion fund to be invested in technology and infrastructure in the region. But Igor Novakovic of the Belgrade-based Center for International and Security Affairs says EU funds are often more difficult to obtain than Chinese funds.
Stefan Vladisavljev, of the Belgrade Fund for Political Achievement, said some lawmakers and officials in the region prefer Chinese investment as Beijing imposes fewer obligations on regional officials and stakeholders on the ground.
“When China approaches countries, generally developing countries, China offers infrastructure projects that are often agreed upon in a non-transparent way… They are accompanied by limited conditions, and this is attractive“, He says, noting that the EU has investment guidelines that require regional governments and businesses to prove that they are in line with EU standards.
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