Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

U.S. says looking at Quad meeting in fall focused on infrastructure

EconomyMay 26, 2021 07:40PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The Asia Group Chairman and CEO Kurt M. Campbell attends the China Development Forum in Beijing, China March 23, 2019. REUTERS/Thomas Peter/File Photo

By David Brunnstrom and Michael Martina

WASHINGTON (Reuters) -The United States is looking to convene an in-person fall summit of leaders of the Quad countries - Australia, India and Japan - with a focus on infrastructure in the face of the challenge from China, President Joe Biden's Indo-Pacific policy coordinator said on Wednesday.

Kurt Campbell said other countries were welcome to work with the Quad, which held a first virtual summit in March and pledged to work closely on COVID-19 vaccines, climate and security.

"We want to look this fall to convene an in-person Quad and the hope will be to make a similar kind of engagement on infrastructure more generally," Campbell told an online event hosted by Stanford University.

"And I do want to underscore ... this is not a fancy club. If there are other countries that believe that they'd like to engage and work with us, the door will be open as we go forward," Campbell said.

The March Quad summit was carefully choreographed to counter China's growing influence and Biden and his fellow leaders pledged to work to ensure a free and open Indo-Pacific in the face of challenges from Beijing.

They also agreed to hold an in-person summit this year. A White House official said it had yet to be decided where or exactly when the summit would be held.

Campbell said there was now a new set of strategic parameters when it came to China and "a period that had been broadly described as engagement has come to an end."

"The dominant paradigm is going to be competition. Our goal is to make that a stable, peaceful competition that brings out the best in us," he said, while cautioning: "There will likely be periods ahead, in which there will be moments of concern."

Campbell said the "operating system" the United States had helped build in Asia remained intact but was "under substantial strain" in the face of China's rise.

"It's going to need to be reinvigorated in a number of ways, not just by the United States, but other countries that use the operating system and that means Japan, that means South Korea, Australia, countries in Europe that want to do more in Asia and across the board."

Campbell said it was important for the United States to have a "positive economic vision of what it wants to contribute, what it wants to engage on in Asia."

"We can do everything right in Asia, but without an economic strategy, it's hard to be successful. That's what Asians are looking for as we go forward ... we're ambitious about the Quad."

Biden, who is pushing for big infrastructure spending at home, said in March he had suggested to British Prime Minister Boris Johnson that democratic countries should have an infrastructure plan to rival China's Belt and Road Initiative.

Belt and Road is a multi-trillion-dollar infrastructure scheme launched in 2013 by China's President Xi Jinping involving projects from East Asia to Europe and seen as a means of significantly expanding Beijing's economic and political influence.

U.S. says looking at Quad meeting in fall focused on infrastructure
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email