The national competition in large-scale infrastructure development between China and the US

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Since Biden took office, Sino-U.S. relations have shown no signs of improvement; instead, they have expanded from the main fronts of trade and technology wars to new areas such as **** and ideology. At the same time, there has been a trend of deeper alliances among Europe, the United States, Japan, the United Kingdom, Canada, and Australia, with the aim of imposing a strategic encirclement on China and Russia. However, the United States is also fully aware that \"to be a good blacksmith, one must first be strong oneself.\" Unlike the competition during the Cold War between the US and the USSR, the strategic rivalry between China and the US will primarily take place in the economic sphere. This is both the foundation upon which the US relies to maintain its global dominance and the main reason for the hesitation of its allies. While these allies are willing to follow the US politically, they are reluctant to give up China economically. It is precisely in terms of economic potential that the US is losing its relative advantage over China. What should I do? Biden is determined to catch up quickly. Following the introduction of a massive fiscal stimulus package worth $1.9 trillion, Biden unveiled another unprecedented \"Green New Deal\": the United States will invest $3 trillion to strengthen the economic foundation by focusing on large-scale infrastructure development, clean energy and carbon reduction, 5G technology, education, and narrowing the wealth gap. On March 22, Bloomberg reported that major infrastructure projects and actions to address climate change are key components of the green new deal; investments in such infrastructure amount to around $1 trillion, with funds being directed toward roads, railways, bridges, ports, upgrading power grids, and electric vehicle charging stations ； The investment in clean energy and carbon emission reduction amounts to approximately 400 billion dollars. The biggest difference between the Green New Deal and other fiscal stimulus plans is that it may rely primarily on taxing companies and the wealthy, rather than borrowing heavily in the form of government bonds. In 2021, the United States ambitiously set out to expand infrastructure development and pursue a green new deal, while China began implementing the initiatives related to infrastructure development and achieving carbon peak goals as part of its 14th Five-Year Plan. The United States has been talking about investing in large-scale infrastructure for 30 years, while China has been working hard on such projects for at least 40 years. Thirty years here, 40 years there – the history of large-scale infrastructure development reflects the shifts in power between China and the United States. From 2021 to 2025, will the United States build the country through action, or will it continue to waste time with empty talk? This depends not only on the Party’s grand plans, but more importantly on whether America’s deteriorating political climate will still allow for any real changes to be implemented The next five years will likely be the most critical turning point for China-US logistics. Hongxueyuan will discuss this topic with students during the live class on Saturday this week (March 27) at 9 p.m.; we hope everyone will prepare carefully and participate actively. Source: Song Hongbing’s View of the World