Skip to main content

The clouds gathering around China's Belt and Road

China’s President Xi Jinping promises that his Belt and Road Initiative, a sweeping vision to put China at the center of the global economy through new infrastructure, trade deals and other connections, was a “plan in the sunshine.”

But make no mistake, the BRI’s outlook is darkening. Critics — including some of Beijing’s actual and potential partners — are raising concerns about transparency, debt sustainability and usefulness, as well as questioning China’s underlying strategic aims.

Blowback from the BRI’s aggressive expansion can be seen in Malaysia’s recent general election. The winner, Mahathir Mohamad, criticized Chinese projects for raising Malaysia’s debt without delivering local benefits. He has promised to reexamine his predecessor’s deals and renegotiate them if necessary. That will be difficult in practice, but the election suggests that skepticism of the BRI is spreading.

The questions about Beijing’s intentions are not new, but recent developments suggest they are deepening in several Western capitals as well. Skepticism about the BRI is also taking hold in international institutions such as the International Monetary Fund. Western powers are still working on an effective response. If they are smart, they will resist the temptation to reject the BRI wholesale and focus instead on opposing specific projects and troublesome practices while advancing — and funding — cooperative infrastructure schemes of their own.

Last month, Handlesblatt reported that 27 of 28 national European Union ambassadors to Beijing signed a report noting

https://www.asiaventurepedia.com/2018/05/15/the-clouds-gathering-around-chinas-belt-and-road/

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

China’s 'Digital Silk Road': Pitfalls Among High Hopes

https://thediplomat.com/2017/11/chinas-digital-silk-road-pitfalls-among-high-hopes/


Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…

Germany’s Siemens sets up Belt and Road office in Beijing

https://gbtimes.com/germanys-siemens-sets-up-belt-and-road-office-in-beijing
Germany’s Siemens sets up Belt and Road office in Beijingby Janne Suokas Mar 23, 2018 15:20 TRADEINVESTMENTBELT AND ROAD INITIATIVEGerman industrial and engineering group Siemens will set up a Belt and Road office in Beijing. surberFlickrCC BY 2.0
German industrial and engineering group Siemens will set up an office in Beijing to boost international cooperation under China’s Belt and Road initiative, the company said on Friday.The move will help strengthen Siemens’ cooperation with Chinese and international companies and expand business opportunities brought about by the Belt and Road initiative, according to the company’s statement.The Belt and Road initiative is China’s ambitious project to boost trade and infrastructure investment in more than 65 countries along the ancient Silk Road trade routes from Asia to Europe and Africa.Siemens said it had already partnered with hundreds of Chinese companies in overse…