OBOR Initiative

OBOR Initiative

What is Blue Dot Network?

Note4Students

From UPSC perspective, the following things are important :

Prelims level : Blue Dot Network, BRI

Mains level : Blue Dot Network

A group of US Senators has written to India asking to join the Blue Dot Network.

Try this MCQ:

Q.The Blue Dot Network recently seen in news is a global alliance for:

a) Beaches Certification

b) Infrastructure development

c) 5G connectivity

d) Patents regulation

The Blue Dot Network

  • Blue Dot is a US-led collaboration with Australia and Japan that supports private-sector-led infrastructure financing opportunities in response to China’s Belt and Road Initiative (BRI).
  • It was formally announced on 4 November 2019 at the Indo-Pacific Business Forum in Bangkok, Thailand on the sidelines of the 35th ASEAN Summit.
  • It is led by the U.S. International Development Finance Corporation, Japan Bank for International Cooperation, and Department of Foreign Affairs and Trade of Australia.
  • It is expected to serve as a global evaluation and certification system for roads, ports and bridges with a focus on the Indo-Pacific region.

Fundamental difference between BRI and Blue Dot

  • While the former involves direct financing, giving countries in need immediate short-term relief, the latter is not a direct financing initiative and therefore may not be what some developing countries need.
  • The question is whether Blue Dot offering first-world solutions to third-world countries.
  • Secondly, Blue Dot will require coordination among multiple stakeholders when it comes to grading projects.
  • Given the past experience of Quad, the countries involved in it are still struggling to put a viable bloc. Therefore, it remains to be seen how Blue Dot fares in the long run.

OBOR Initiative

G7 Countries  

Note4students

Mains Paper 2: IR| India and its neighborhood- relations.

From UPSC perspective, the following things are important:

Prelims level: Belt and Road Initiative

Mains level: Concerns raised by Belt and Road Initiative


News

  • Italy set to become first G7 country to join ‘Belt and Road’ initiative.

About G7

  • The G7 or the Group of Seven is a group of the seven most advanced economies as per the International Monetary Fund (IMF).
  • The seven countries are Canada, USA, UK, France, Germany, Japan and Italy. The EU is also represented in the G7.
  • These countries, with the seven largest IMF-described advanced economies in the world represent 58% of the global net wealth ($317 trillion).
  • The G7 countries also represent more than 46% of the global gross domestic product (GDP) based on nominal values, and more than 32% of the global GDP based on purchasing power parity.
  • The requirements to be a member of the G7 are a high net national wealth and a high HDI (Human Development Index).

Eyebrows raised in West

  • Italy’s decision to get closer to Beijing has caused concern amongst its Western allies notably in Washington.
  • The White House National Security Council has earlier urged Rome not to give ”legitimacy to China’s infrastructure vanity project”.
  • Critics of the BRI say it is designed to bolster China’s political and military influence, bringing little reward to other nations, and warn that it could be used to spread technologies capable of spying on Western interests.
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