EU to Announce 54 Trillion-Won Technology and Infrastructure Construction Plan Next Week
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[Asia Economy Reporter Donghoon Jeong] The European Union (EU) is expected to announce a large-scale technology and infrastructure construction plan next week.
According to major foreign media on the 12th, the EU is reported to have devised an investment plan called the "Global Gateway," worth over 40 billion euros (approximately 54 trillion won). This plan is intended to counter China's massive economic initiative, the Belt and Road Initiative (一帶一路, connecting China-Central Asia-Europe via land and maritime Silk Roads).
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According to a draft of the "Global Gateway" obtained by Bloomberg, this investment plan aims to invest over 40 billion euros in the digital, transportation, energy, and trade sectors to enhance Europe's interests and competitiveness worldwide. It is also expected to include measures to establish sustainable environmental standards and promote values such as democracy, human rights, and the rule of law.
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