Great Power Competition is all the rage among international relations experts these days. But we often think purely in terms of military posturing or alliance building. Among the most long-lasting and powerful tools of American influence is that of our substantial capacity for international development and building global infrastructure. As part of this, President Biden announced the creation of a multi-national development initiative called “Build Back Better World.” But what is this exactly and can Joe Manchin stop this like he did the domestic version? (Spoiler: No, it doesn’t work like that.) This week, we’ll take a look at this new international development initiative and what it means for you.

We’ve covered topics like China’s Belt & Road Initiative before, but as a quick refresher, this is China’s massive international infrastructure program that seeks to further connect China to Europe via stronger trade routes. China is building massive roads, bridges, ports, and energy connections throughout Asia and Africa. On paper this is great, since these nations receive critical infrastructure they might not otherwise be able to obtain. But many of these projects are an unfortunate byproduct of what’s called debt trap diplomacy. That’s where China provides high interest loans to these nations to build their projects, but then seizes the infrastructure for its own use when the host nation defaults on its payments. It’s a very one-sided transaction where ultimately China ends up controlling more and more of the infrastructure of countries around the world.

To help combat this, the Biden administration announced that the United States would be leading a global investment program called Build Back Better World (B3W). This program proposes a global collaboration of hundreds of billions of dollars in international development projects targeted at countries throughout the Global South (i.e. places like Latin America, Africa, and the Indo-Pacific). For its part, the United States would contribute several billion dollars and raise billions more in private capital investments. Currently, America spends less than 1% of the total federal budget on all foreign aid programs including the entire budget of the U.S. State Department. So this proposed additional spending will hardly break the bank.

In exchange for that investment, the U.S. will see significant returns. Investments in global infrastructure projects provide substantial benefits for our own local communities. Already, nearly 20% of local jobs are tied to global trade, and this number would increase as more communities are connected to the international marketplace. A big focus on funding these projects will involve development finance from private companies, which will solidify partnerships between developing economies and U.S. companies. This not only drives wealth creation and the reduction of poverty abroad, it also boosts the American domestic economy by opening more markets for domestic companies. Finally, these development programs will focus on sustainability and renewable energy, ensuring that the recipient nations will maintain their own energy independence rather than being subject to the will of Western energy producers for their electricity.

So why should you care? What does it matter if China builds bridges in Africa instead of America building them? There are key differences between America’s development programs and the Chinese Belt & Road Initiative. China’s international development tends to be very transactional (you get a road, I get a favorable vote in the United Nations). The Western-led projects like those in the Build Back Better World program are designed to help grow and support everyone involved. But it’s not just the nice thing to do, it is also in our own self-interest to complete these projects. These are major investment opportunities for American corporations that can help produce jobs at home. These investments also help generate lifelong connections and increase America’s diplomatic standing around the world. It’s all about using hard structures to build soft power around the globe.

In all, the announcement of the Build Back Better World program signals an encouraging path towards equitable investment in the Global South. Places like Latin America and Africa have long been ignored to the detriment of U.S. foreign policy, and this plan provides much-needed diplomatic and development support. By many projections, population growth in some countries in Africa will vastly eclipse that of most other regions of the world. We must help create the conditions for their success to ensure both economic prosperity and our own national security. Nothing breeds extremism and instability like hunger, disease, and poor economic prospects. Ultimately, this is an incredible opportunity to showcase an alternative to China’s predatory development practices.