The European Union has launched a new connectivity initiative, Global Gateway, aiming to mobilise €300 billion (S$464 billion) in infrastructure outlays by 2027 to fund projects spanning Eastern and Southern Europe, Africa, Central Asia and the Indo-Pacific.

Although it carefully avoided characterising the plan as a response to China's Belt and Road Initiative (BRI), there is little doubt that this is a counter to Beijing. Global Gateway comes on the heels of the United States-led Group of Seven initiative called Build Back Better World. Indeed, the EU says both will mutually reinforce each other. Beijing is not amused. The state-owned Global Times tabloid has described Global Gateway as "another rubber cheque" from the West.