From Beijing’s Belt and Road Initiative (BRI) to Tokyo’s Partnership for Quality Infrastructure (PQI) and Washington’s Partnership for Global Infrastructure and Investment (PGII), states have rolled out large-scale initiatives that blend economic development with strategic ambition. Academic and policy debate has largely read these initiatives through the lens of geopolitical competition, as rival bids by major powers to shape the infrastructure order of the Global South and gain strategic advantage. This presentation argues that the relationship among the infrastructure initiatives of China, Japan, and the United States, three major creditors in the Indo-Pacific, cannot be reduced to geopolitical rivalry alone. Centering on the interaction between state and market, it frames that relationship as an interplay of competitive differentiation and normative convergence. Drawing on the major powers’ policy discourses and financial practices across the Indo-Pacific, the analysis shows that geoeconomic competition produces not only differentiation among the initiatives but also convergence in their norms. Competition frequently drives policy emulation and partial alignment, even as institutional and political barriers continue to constrain deeper cooperation.
Programme
Opening words:
Katja Creutz, Programme Director, FIIA
Speaker:
Saori Katada, Professor and Louis G. Lancaster Chair of International Relations, University of California
Discussant:
Mikael Mattlin, Research Professor, FIIA
Chair:
Bart Gaens, Senior Research Fellow, FIIA
Photo credit: iStock



