That’s not entirely accurate. They are loading up B&R countries with huge debt. When the US did it with the Marshall plan, it was a grant.
https://www.wsj.com/articles/more-of-africa-finds-itself-in-chinas-debt-1532549741

The Chinese can get it done quickly, because they ignore all local opposition. When they do run into opposition, then they have no experience dealing with it.
https://www.wsj.com/articles/chinas-global-building-spree-runs-into-trouble-in-pakistan-1532280460

I agree that US policy has been poor, especially with overthrowing governments. China seems to be doing what the British Empire did in teh 17-19th centuries. I think both policies are doomed to failure. Hopefully the US will re-think how it runs foreign policy now that there is real peer competition.

At least now, the US is getting more serious about responding. Investment along with the military realignment of Pacific Command to Indo-Pacific Command.
https://www.bloomberg.com/news/articles/2018-07-30/u-s-led-infrastructure-fund-to-counter-china-in-indo-pacific