OBOR structure to 'compromise' sovereignty of nations: US

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WASHINGTON: The US fears that the financing structure of China’s One Belt One Road initiative over time will “compromise” on the sovereignty of the nations where those infrastructure projects are being undertaken, a senior US official told lawmakers.

The One Belt One Road (OBOR) is a pet initiative of Chinese President Xi Jinping. It is essentially a state-financed, state-backed, infrastructure initiative to build infrastructure across Central Asia and other parts of the Indo-Pacific.

As such there is a number of initiatives across the Indo-Pacific region to build the capacity of countries and generate awareness so that countries do not fall into debt trap or their sovereignty is not compromised by their such projects, said Alex Wong, the Deputy Assistant Secretary of State for East Asian and Pacific Affairs.

“When we look at the Belt and Road initiative, the United States is less concerned about where the money comes from, or from which country the money comes from,” he told…

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