Biden supports Ford’s involvement in China’s Belt and Road Initiative.

The State Department is Backing Ford’s Involvement in China’s Belt and Road Initiative

Get ready for a surprising twist in the ongoing saga of China’s Belt and Road Initiative. The State Department is now defending Ford Motor Company’s involvement in one of the project’s flagship initiatives. Despite concerns over the initiative’s impact on global security, the Biden administration believes that Ford’s partnership with a Chinese mining company will help bring Beijing more in line with progressive investment standards.

Why is the State Department Supporting Ford’s Partnership?

In a letter from State Department Assistant Secretary of Legislative Affairs Naz Durakoglu to Sen. Marco Rubio, the administration’s main concern with the Belt and Road Initiative is the poor labor and ESG records of the companies involved. ESG stands for “environmental, social, and corporate governance,” and is a progressive-backed investment strategy.

The letter suggests that the administration is now focused on improving labor conditions in Beijing’s operations, rather than directly opposing the initiative. This comes after U.S. Ambassador to Indonesia Sung Kim praised Ford’s partnership with China’s Zhejiang Huayou Cobalt Company on a nickel production facility in Indonesia.

Durakoglu acknowledged that Chinese-controlled mining companies in Indonesia generally maintain poor labor and environmental standards, but welcomed Indonesia’s efforts to attract additional countries’ firms to invest in the sector and raise labor and ESG standards.

What is the Belt and Road Initiative?

The Belt and Road Initiative is a massive infrastructure project that U.S. officials have described as a global security threat. In response, President Biden launched the “Build Back Better World” project, but little has been reported on its progress.

What’s Next for the Belt and Road Initiative?

Despite the State Department’s support for Ford’s involvement, concerns over the Belt and Road Initiative’s impact on global security persist. It remains to be seen how the initiative will evolve and whether the U.S. will continue to take a more nuanced approach to its involvement.

Conclusion

The State Department’s defense of Ford’s partnership with a Chinese mining company is a surprising development in the ongoing debate over China’s Belt and Road Initiative. While concerns over the initiative’s impact on global security remain, the administration’s focus on improving labor conditions in Beijing’s operations is a step in the right direction.

• ESG stands for “environmental, social, and corporate governance,” and is a progressive-backed investment strategy.
• The Belt and Road Initiative is a massive infrastructure project that U.S. officials have described as a global security threat.
• President Biden launched the “Build Back Better World” project in response to the Belt and Road Initiative.

Stay tuned for more updates on this developing story.