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With the arrival of the American Development Finance Corporation (DFC) in Belgrade, our country is definitely becoming an economic testing ground to demonstrate the influence of the world’s greatest powers. At the crossroads of the Balkans, for the umpteenth time, the interests of East and West intersect. However, “Politika” interlocutors agree that this time we have nothing to lose in this type of geopolitical struggle, which involves economic investments. We can only benefit by accepting investments, regardless of whether they come from Russia or China, or the United States, Italy, Germany or France.
Last year, foreign investments in Serbia reached a record figure of 3,580 million euros, and in the first six months of this year, foreigners invested 1.46 billion euros in our country. According to data from the Serbian Development Agency, when looking at the number of foreign investments, Italy ranks first, which also invests more money. Followed by USA, France, Austria …
Experts agree that the decision to open a DFC office for the Balkans in Belgrade shows the determination of the United States to strengthen ties with the region, but also to create investment opportunities for American companies. However, in the first place is the opposition to the giant growth of China. The director of the Center for Social Stability, Ognjen Karanović, told “Politika” that it is known that one of the objectives of the DFC’s arrival in Belgrade is to curb the growth of Chinese investments, but adds that even the Americans themselves are aware that they cannot stop that growth.
Slobodan Zecevic of the Institute for European Studies adds that the United States is trying to expel all serious players, both Chinese and Russian, from European soil. “Even so, investments are in our interest, regardless of their origin. We have no reason to reject Western investments. The EU announced these investments through the Berlin process, and America through the DFC”, adds our interlocutor. Zecevic believes that Serbia did not turn to Chinese investment for ideological reasons, but precisely because of insufficient investment from the West, which can now be corrected.
By the way, DFC is the legal successor to the powerful OPIC, the US state agency, which has been in existence since 1971. The agency was formed to support investment by the US private sector in developing countries. Ognjen Karanović recalls that DFC has a huge budget today, demonstrating the importance of investments in third world development for the United States today. “The most important thing is that the political elites in Washington are completely behind the formation of the DFC,” he added.
Of course, as he adds, American investors intend to make money by investing around the world, but even so, Serbia will benefit more from the tracing of American capital. Our interlocutor says that this example clearly shows how intertwined the economic and political interests of the great powers are. “Although DFC is a formally private agency, it works directly for the state. It harmonizes its corporate policy with the geopolitical interests of Washington,” says our interlocutor.
Karanovic also notes that the announcement of the creation of the Balkan economic community is an attractive testing ground not only for the United States, but for all world powers. The reasons, he adds, are very clear. “Until now, the Balkans have been seen as a fragmented territory inhabited by peoples who fight each other. Of course, the problems of the Balkan peoples exist precisely because of the interference of the great powers, but it is significant that today both East and West support the unification of the Balkan peoples into one economic community. Current borders must be made as flexible as possible so as not to impede the flow of people, goods and services. That is the environment that is necessary for foreign investors to approach us “, explains our interlocutor.
American and Chinese interests, Karanovic adds, will come into direct conflict when it comes to the construction of the Nis-Pristina highway, the railway infrastructure, as well as the connection of Nis with the Albanian port of Durres. These are investments whose financing will be supported by the United States, but for which the People’s Republic of China is very interested in connecting with the ports of Thessaloniki and Durres and, through them, with the whole of Europe. “From this example it is clear that the DFC will certainly try to match the Chinese in various projects. They will be in economic and political conflict in the Balkans, but Serbia will not be in danger for that, on the contrary”, our interlocutor is sure.
The “Belt and Road” project is absolutely unstoppable, he added, unless it stops in China itself. It is impossible, as he points out, that there are strong conflicts between Chinese and American investments, because Chinese projects are of enormous value, they are designed decades in advance and they are carried out in a very organized way. “’Belt and Road’ has a budget of over $ 1.3 billion and has already been tracked in the Balkans. It is impossible to remove it. The only thing the DFC, or more precisely the US government, can do is boost investment. Only Belgrade can benefit from that, especially in the conditions of the so-called mini-Schengen, “is Karanović’s opinion.
By the way, DFC funds solutions to the biggest challenges facing developing countries and participates in projects in nearly 100 countries around the world. Unlike China, the Americans cannot force their private companies or banks to invest abroad, so we will see how the office in Belgrade will work. The only thing left for us is to skillfully balance the interests of the great powers, but also to respond to the requests of all potential investors in the best possible way.
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