Trump Approves U.S. International Development Finance Corporation; Administration Seeking To Counter Chinese Influence Abroad, New York Times Reports

New York Times: Trump Embraces Foreign Aid to Counter China’s Global Influence
“President Trump, seeking to counter China’s growing geopolitical influence, is embracing a major expansion of foreign aid that will bankroll infrastructure projects in Africa, Asia, and the Americas — throwing his support behind an initiative he once sought to scuttle. With little fanfare, Mr. Trump signed a bill a little over a week ago that created a new foreign aid agency — the United States International Development Finance Corporation — and gave it authority to provide $60 billion in loans, loan guarantees, and insurance to companies willing to do business in developing nations…” (Thrush, 10/14).

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