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Showing posts from May 11, 2017

Nepal joins China's Silk Road initiative, possibly irking India May 12, 2017 3:25 pm JST KATHMANDU (Kyodo) -- Nepal on Friday signed an agreement to be part of Chinese President Xi Jinping's ambitious plan to build a new Silk Road linking Asia, Africa and Europe, a move that could alarm India, which jostles with China for influence in Kathmandu. At a special function held at the Ministry of Foreign Affairs in Kathmandu, Foreign Secretary Shanker Das Bairagi, the ministry's top bureaucrat, and Chinese Ambassador to Nepal Yu Hong inked the deal, the ministry said. "This is a historic agreement," said Foreign Minister Prakash Sharan Mahat, who witnessed the signing to bring the Himalayan nation into Beijing's initiative to expand its economic and geopolitical heft across several continents. The massive infrastructure project is commonly referred to as "One Belt, One Road," short for Silk R

‘Strategy through investments’: China’s ‘Silk Road’ plan is giving India, US, Russia the jitters Dubbed “One Belt, One Road” after ancient trade routes through the Indian Ocean and Central Asia, the initiative is Chinese President Xi Jinping’s signature project.         In this April 20, 2015 file photo, municipality workers walk past a billboard showing pictures of Chinese President Xi Jinping, center, with Pakistan’s President Mamnoon Hussain, left, and Prime Minister Nawaz Sharif on display during a two-day visit by the Chinese president to launch an ambitious $45 billion economic corridor linking Pakistan’s port city of Gwadar with western China, in Islamabad, Pakistan. (AP Photo) Updated: May 12, 2017 10:32 IST By Associated Press, Beijing In a mountain valley in Kashmir, plans are underway for Chinese engineers guarded by Pakistani forces to expand the lofty Karakoram Highway in a project that is stirr

$8.5 bln project would see deep-sea port built in Myanmar 2017-05-12 10:07 CGTN  Editor: Mo Hong'e One of the most prominent infrastructure projects in Southeast Asia could lead to the establishment of the biggest shipping port and industrial zone in Dawei, on the west coast of Myanmar. A high-level task force has been set up to beef the development of this project. An ambitious 8.5-billion-U.S.-dollar plan calls for a deep-sea port and Special Economic Zone, seeing the creation of South East Asia's largest industrial park. The project is a joint venture between Myanmar, Thailand and Japan. Business leaders believe the port will transform the region. "When the port is built we can send products to other places. There will also be jobs for Myanmar people, even skilled jobs. Because there are very few opportunities here at the moment, most of the young people have to go to Malaysia or Thailand to work." So far work has been limited to bringing in construction materials and pre

China’s One Belt, One Road gamble

Updated: May 11, 2017 21:21 IST | Raghu Dayal Building a complex web of rail, road networks criss-crossing Asia, China is asserting its might as a civilisational power To demonstrate the sweep and magnitude of its flagship, and historic, Belt and Road Initiative (BRI), China will play host to two score or more heads of government at a special conclave in Beijing this weekend. With rare passion and tenacity, Chinese President Xi Jinping has pursued his vision of a new Silk Road with a network of high- speed rail, motorways, pipelines, ports, fibre optic cables, to “break the connectivity bottleneck” in Asia. In September 2013, he proposed a Silk Road Economic Belt, building a transport corridor connecting the Pacific Ocean to the Baltic Sea, and linking East Asia to South Asia and West Asia. The following month, he advocated the 21st Century Maritime Si

The $900bn question: What is the Belt and Road initiative?

It’s a confusing title but it could turn out to be the largest ever infrastructure project with close to a trillion dollars being invested across the globe View more sharing options Tom Phillips  in Beijing Thursday 11 May 2017 21.02 EDTLast modified on Thursday 11 May 2017 21.12 EDT On Sunday Chinese President  Xi Jinping  will welcome world leaders including Russia’s Vladimir Putin, Pakistani Prime Minister Nawaz Sharif and Myanmar’s Aung San Suu Kyi to Beijing for what is billed as China’s most important diplomatic event of the year: a two-day forum celebrating Xi’s so-called ‘Belt and Road initiative’. The Belt and what initiative? Even Chinese officials have struggled to define the awkwardly-named scheme and a flurry of music-themed propaganda about Xi’s signature foreign policy in the lead-up to this weekend’s event has done little to clear things up. World's biggest building project aims to make China great again “It is not a solo song but a chorus,” one veteran Ch

Use local currencies in China's Silk Road initiative for financial stability - central bank officials People take pictures of the ''Golden Bridge on Silk Road'' installation by artist Shu Yong, set up ahead of the Belt and Road Forum in Beijing, China May 10, 2017. REUTERS/THOMAS PETER X The use of local currencies instead of the U.S. dollar or other major currencies in China's Belt and Road initiative will help to ensure financial stability, officials at China's central bank said this week. Transacting in the currencies of countries along the Silk Road route will gradually reduce dependence on major currencies and lower the risks of exchange rate fluctuations, said Zhou Xiaochuan, governor of the People's Bank of China. "Increasing the use of local currencies will gradually enhance confidence and raise attractiveness of the local currencies," Zhou wrote in an article published in the central bank's China Finance magazine this week. ADVERTISEMENT In an interview with People's Daily p

Trains, sea ports of China’s new Silk Road China’s OBOR spans some 65 countries representing 60% of the global population and a third of global GDP. Here are some other projects of China Development Bank AFP The China Development Bank alone has earmarked $890 billion for some 900 projects. Photo: AFP Beijing:  China’s Silk Road summit on Sunday will highlight the country’s plans to revive ancient trade routes from Asia to Europe and Africa with a massive network of rail and maritime links. The One Belt, One Road Initiative was unveiled by President Xi Jinping in 2013. Xi will host top officials from 28 nations for the two-day conference on the outskirts of Beijing, though few Western leaders will attend the meeting. Beijing’s grand vision includes the “Silk Road Economic Belt,” which extends from China to central Asia through Europe, linking northern Xi’an city with Dushanbe in Tajikistan, Moscow, Rotterdam in the Netherl

Pakistan's debt and other repayments on China's "Belt and Road" initiative will peak at around $5 billion in 2022

Reuters By Drazen Jorgic | ISLAMABAD Pakistan's debt and other repayments on China's "Belt and Road" initiative will peak at around $5 billion in 2022, but will be more than offset by transit fees charged on the new transport corridor, says the Pakistan government's chief economist. China has pledged to invest up to $57 billion in Pakistan's rail, road and energy infrastructure through its vast modern-day "Silk Road" network of trade routes linking Asia with Europe and Africa. Officials expect a huge uptick in trade between the two nations once Pakistan's Arabian Sea port of Gwadar is functional and work on motorways is finished allowing goods to cross the Himalayas to and from China's western Xinjiang province. The China-Pakistan Economic Corridor (CPEC), a flagship "Belt and Road" project, has been credited with helping revive Pakistan's sluggish economy, but investors have raised concerns that ✔🔴 Pakistan's curre

Mazdak Dilshad Baloch made history in Delhi

Historic memorable pictures of Mazdak Dilshad Baloch in Delhi. Probably the first historic rally by a Baloch leader in Delhi before Pakistan embassy

India's claim to Pakistan-controlled Kashmir a problem for CPEC: Chinese scholar By IANS | Updated: May 11, 2017, 02.30 PM IST The $46 billion CPEC has emerged as the latest sore point between India and China, the fastest-growing economies of the world who have had a history of mutual distrust after a brief war in 1962. By Gaurav Sharma   BEIJING:  India 's claim to Pakistan-controlled Kashmir  has created problems for the China -Pakistan Economic Corridor  (CPEC), a top Chinese scholar has said.  In an interview to IANS, Wang Yiwei, Dean, the Centre for European Studies at Renmin University, said: "Pakistani-dominated Kashmir was not India's."  The author of "China Connects the World, What Behind the Belt and Road Initiative" urged India to join the Belt and Road project, whose artery CPEC is opposed by New Delhi.  "India says that whole of Kashmir (including the part controlled by P

CPEC: China violated Pakistan's laws, social customs, says report Press Trust of India | Beijing May 09, 2017 10:31 AM IST Photo: Shutterstock The $50 billion controversial economic corridor with Pakistan has achieved "unexpected progress" but several Chinese firms have violated the country's local laws and social customs, which badly damaged China's reputation, according to a report. "The China-Pakistan Economic Corridor (CPEC) will play a leading role in the Belt and Road Initiative," said an article by Zhou Rong and Chen Xiaochen of the Chongyang Institute for Financial Studies (CIFS) at Renmin University of China. The institute recently launched an intensive research programme to look at the progress and problems of the CPEC construction in Pakistan. "After assessment, we found that the construction has been unexpectedly fast. Four key areas of cooperation - energy, trans

CPEC a golden chance to enhance exports, generate revenue: minister LAHORE Federal Minister for National Food Security and Research Sikandar Hayat Bosan has said the government is focusing on adoption of modern practices and technology in agricultural sector to boost economy.  He was addressing national agribusiness conference on ‘Green Punjab and CPEC’ organised by Punjab University Institute of Agricultural Sciences at a local hotel on Wednesday.  Punjab University Vice-Chancellor Prof Dr Zaffar Mueen Nasir, Dean Faculty of Life Sciences Prof Dr Naeem Khan, Director Institute of Agricultural Sciences Prof Dr Saleem Haider, President Lahore Chamber of Commerce and Industry Abdul Basit, Chairman Pakistan Crops Protection Association Saad Akbar Khan, Additional Secretary Agriculture Punjab Dr Ghazanfar Ali, representatives of various firms dealing in agri-business, faculty members and a large number of students were present.  Addressing the cer

CPEC to directly benefit 3b people in China, SA, CA, ME: Sartaj Staff Reporter Islamabad By linking China with the Arabian Sea and the Persian Gulf, Cihna-Pakistan Economic Corridor (CPEC) will optimize trade potential and enhance energy security of China, Pakistan and the wider region, directly benefiting some three billion people in China, South Asia, Central Asia and the Middle East. Adviser to the Prime Minister on Foreign Affairs, Sartaj Aziz speaking at a seminar on “CPEC: Corridor of Prosperity through Education and Business” herr at National University of Modern Languages (NUML) Wednesday said the One-Belt-One-Road was a visionary concept, which had proposed creating Silk Road Economic Belt and Maritime Silk Road, with focus on connectivity of infrastructure including roads, rail links, sea routes, ports, and connectivity of policy, trade and finance. He said the regional connectivity for economic prosperity was an important pillar of Pakistan’s foreign policy

CPEC-A Economic Revolution for Pakistan By: Rashid Ahmed Mughal A multidimensional revolution in the shape of CPEC is on its way to Pakistan which will surely end years of economic isolation of Pakistan and tackle two fundamental issues of Poverty and un-employment which have daunted Pakistan’s growth and resulted  in  reduced GDP over the years.CPEC,therefore,is going to usher in a  new era of prosperity, rapid economic development  and wellbeing of  the country. The China Pakistan Economic Corridor ‎; also known as CPEC and North-South economic corridor) is an economic corridor comprising a collection of projects currently overland route that connects Kashgar and Gwadar, through the construction of a network of highways, railways, optical fiber and pipelines. Roadway Projects The CPEC projects call for reconstruction and upgrade works on National Highway 35 (N-35), which forms the Pakistani portion of the Karakoram Highway (KKH). The KKH spans the 887 kilomet