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Pompeo announces $113 mil. in new US investments in 'Indo-Pacific'

U.S. Secretary of State Mike Pompeo listens during a Senate Appropriations subcommittee hearing on the FY2019 budget, on June 27, 2018, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)

WASHINGTON (Kyodo) -- Secretary of State Mike Pompeo announced $113 million in new U.S. investments in technology, energy and infrastructure for the Indo-Pacific on Monday as part of efforts to bolster ties with the region.

The new U.S. initiative comes amid concerns about China's growing influence in Asia and elsewhere as Beijing pursues its "One Belt, One Road" policy of connecting countries along the ancient Silk Road trade routes more closely.

Washington has decried China's foreign infrastructure investments as an example of "predatory economics" that cause no job creation or economic growth in recipient countries, instead leaving them with enormous levels of debt.

In a speech to the U.S. Chamber of Commerce, Pompeo said the United States "will never seek domination in the Indo-Pacific" and that "we will oppose any country that does."

"The (President Donald) Trump administration is committed to expanding our economic engagement in the Indo-Pacific region," he said. "We believe in strategic partnerships, not strategic dependency."

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