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The private sector won’t save America’s Indo-Pacific policy
More needs to be done to repair the economic relationship with South-east Asia.
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The most visible investments in South-east Asia in recent years have come from China, not the US.
PHOTO: PEXELS
The Economist
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America wants South-east Asians to know that it is the region’s best friend. In summits, white papers, speeches and private asides since coming into office in 2021, officials of the Biden administration have told them that America, not China, is the top source of foreign direct investment into the region. It is Uncle Sam who is going to make them rich.
Its audience could be forgiven for feeling gaslit. The most visible investments in these countries in recent years have come from China, not America. It is China that is building new high-speed trains, ports and public buildings, in a bid to win favour in the region. So why the empty boast?
