September 10, 2023

NEW DELHI — The Biden-led rail-to-sea economic corridor linking India with Middle Eastern and European countries should not be exclusionary and should engage in the spirit of an integrated world economy, according to the International Monetary Fund’s Managing Director Kristalina Georgieva.

At a time when supply chains are aligning along shifting global geopolitical lines, U.S. President Joe Biden’s initiative appears to be aimed at not only countering China’s influence in the energy-rich Middle East, but also Beijing’s decade-old Belt and Road global infrastructure initiative. A more fragmented global economy though, has limited global trade growth — which now lags global economic growth.

“If we want trade to be an engine of growth, then we have to create corridors and opportunities,” Georgieva told CNBC’s Martin Soong Sunday on the sidelines of the Group of 20 nations leaders’ summit in New Delhi.

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