Australia, India, Japan, and the U.S. have begun talks of a collaborative infrastructure-investment programme, Caixin Global reports, which will act as a counter-weight to spreading Chinese influence in developing market economies throughout the Asia-Pacific region.
Australian media sources described the venture as an alternative to China’s ambitious Belt and Road Initiative, both having the stated goal of promoting infrastructure and growth in countries along the old Silk Roads spanning Eurasia. The plan is still “nascent” however, according to newspapers.
This is expected to be a significant talking point between Australian Prime Minister Malcolm Turnbull and U.S. President Donald Trump during his three-day visit to the U.S. on Wednesday, where he will be accompanied by a small entourage of Australian political and business leaders.