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Showing posts from November 2, 2018

Who should be afraid of the Belt and Road? China

By Bloomberg | Nov 02, 2018, 12.32 PM IST

Five years after Xi announced his Silk Road plans, the program still has plenty of boosters — especially in China’s state-run press.by Nisid Hajari


As a line on a map, Malaysia’s East Coast Rail Link makes sense. Slashing diagonally across the peninsula from Port Klang at one end to the port of Kuantan and towns north at the other, the project looks well-situated to encourage travel and commerce, and to spread prosperity from the country’s rich west to its poorer east.Connecting its dotted line to others spreading outward from China to the Middle East, Africa and Europe only strengthens the case. As a critical link in China’s “trillion-dollar” global infrastructure scheme, the so-called Belt and Road Initiative, it would enable oil and other commodities to flow from the Middle East to mainland China without making the age-old journey by ship through the narrow and easily blockaded Strait of Malacca. Seen this way, the project seems not just a so…

A New Direction for China’s Belt and Road

The massive infrastructure development program needs a course correction.By Editorial BoardNovember 2, 2018, 4:00 AM GMT+5:30Even Pakistan has begun to question some Chinese loans. Photographer: Asim Hafeez/Bloomberg
“To get rich, first build a road” is one of those Chinese proverbs that tends to impress foreigners — evoking, as it does, a combination of farsightedness and concern for practicalities. As China is discovering with its globe-spanning Belt and Road project, though, the world doesn’t always play along. The initiative has run into trouble, and its success now depends on revisiting both the vision and the details.QuicktakeChina’s New Silk RoadFive years ago Chinese President Xi Jinping began promoting a network of Chinese-financed roads, pipelines, ports, power plants and other infrastructure across Asia, the Middle East, Africa and Europe. Back then, the idea sold itself. China had unmatched skill at building megaprojects, and limitless pools of capital with which to fund th…

China, Pakistan Seeking CPEC Extension to Afghanistan

November 01, 2018 11:36 AMAyaz GulFILE - Ahsan Iqbal, then Pakistan's minister for planning and development, speaks during the launch ceremony of the China-Pakistan Economic Corridor (CPEC) long-term cooperation plan, in Islamabad, Pakistan, Dec. 18, 2017. There is now talk of expanding the project into Afghanistan.ShareISLAMABAD — China and Pakistan say they are exploring the extension of their bilateral infrastructure development project to Afghanistan.During the past four years of the China-Pakistan Economic Corridor (CPEC), Beijing has provided Islamabad $19 billion in soft loans and direct foreign investments, upgrading or constructing Pakistani transportation networks, power plants and the strategic Arabian Sea port of Gwadar.The stage is now set for “expansion and geographical extension” of CPEC to western Pakistan and to landlocked Afghanistan, say Pakistani and Chinese officials. They say later this year Kabul is to host the next round of a trilateral peace and security c…

FO rejects Indian protest over CPEC bus service

The Newspaper's Staff ReporterUpdated November 02, 2018

New Delhi’s deputy high commissioner summoned to condemn recent ceasefire violation. — Suhail Yusuf/FileISLAMABAD: The Foreign Office on Thursday rejected Indian protest over the launch of a luxury bus service between Pakistan and China, saying the international community could not be misled.“We reject the Indian Ministry of External Affairs’ (MEA) purported protest and statement regarding bus service through the China-Pakistan Economic Corridor (CPEC). India’s repeated regurgitation of claims over India-held Kashmir can neither change the facts of history nor the legality of the Jammu and Kashmir dispute,” an FO statement said.A new bus service called Pak-China CPEC Bus Service is being launched between Lahore and Tashkurgan (Kashgar – China). The service would be operated by the North-South Transport Network — a Lahore-based private company that on its website claims to be accredited with Indian Importers Association as a ‘l…