Monitoring Chinese Global Investments: Protecting US Interests and Allies.
This law establishes new diplomatic roles in US embassies worldwide, tasked with monitoring and reporting on Chinese infrastructure investments, particularly under the Belt and Road Initiative. The goal is to protect allies from excessive debt and economic vulnerability, indirectly bolstering global economic stability and US national security. Furthermore, the act encourages offering alternative financing options for critical infrastructure projects.
Key points
Creation of "Country China Officers" in US embassies to monitor Chinese investment projects globally for a 10-year period.
Requirement for annual reporting on partner countries' debt to China and the risk of economic sovereignty loss.
Strengthening US diplomatic efforts to offer alternative financing for critical infrastructure development in countries targeted by the BRI.
Expired
Additional Information
Print number: 118_S_2752
Sponsor: Sen. Lankford, James [R-OK]
Process start date: 2023-09-11