Economic Diplomacy Through Infrastructure Support: A Conversation with Amos Hochstein

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“We need to make sure that as we are going through a revolution in energy and a revolution in technology, everyone around the world gets to benefit from it and rises at the same time, and that the supply chains for those revolutions are diversified and secure.”

“We want there to be multiple hubs of production of critical minerals all the way to refining and the manufacturing…We cannot have a monopoly and a dominant position in the energy sector as we’re building a new one, just to go through the same problems that we had and the same national security risks that we had in the 20th century. So what do we do about it? We have to invest across the board…We shouldn’t come to countries and say, work with our companies or work with us just because it’s us. We should do it because we have a better offer for them.”

“We have to have reform the international institutions that provide finance, because that is going to help us unlock the private capital that needs to come…If we can de-risk those investments and if we can provide support so that [the private sector is] not afraid of all three of the ESG components, and we do this through multilateral development banks, through governmental export and financial support institutions, then we can bring [private capital] along with us…That’s one area where we can collaborate.”