There is a global consensus that infrastructure development can drive economic growth, and countries are engaged in a "race to connect the world" through initiatives like China's Belt and Road Initiative. However, the neglect of infrastructure investment in the 1980s and 1990s, coupled with the 2008 financial crisis, has made many projects too risky for private investment. While the BUILD Act aims to counter China's influence, it does not address the underlying conditions, and other institutions have complemented China's vision with their own investments.

1. Seth Schindler: Seth.schindler@manchester.ac.uk
Infrastructure-led Development and the Race
to Connect the world

2. Main assertions:
1. There is a global consensus on enhanced
connectivity: infrastructure-led development
2. There is a race to connect the world

3. Initiative for the Integration of the
Regional Infrastructure of South America

4. Greater Mekong Subregion

5. Lamu Port – South Sudan – Ethiopia
Transport Corridor

8. The neglect of infrastructure
1980s: ‘get the prices right’

9. The neglect of infrastructure
1990s: ‘get the institutions right’

11. Paul Krugman Justin Yifu Lin

12. 2008 financial crisis

13. Race to connect the world
• Francis Fukuyama – fears Beijing will gain a
monopoly in the global construction sector

14. BUILD Act

19. Competition or containment?

20. What are the implications for communities
in rural parts of Africa?

21. Conclusion
Infrastructure-led development is a global
regime whose proponents are in competition.
The BUILD Act does not address the underlying
conditions that make projects too risky for
private investment.
A number of institutions have complemented
the BRI vision with investment.