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A proposed US initiative aims to be a ‘clear alternative’ to Chinese investment in Asia

  • American lawmakers are currently debating a bill that would create a new U.S. development finance agency with a $60 billion war chest.
  • Supporters say the new entity would be a transparent alternative to China's Belt and Road infrastructure program.
  • If approved by the Senate, the institution would be the latest component of Washington's Indo-Pacific strategy.

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