Skip to main content

Standard Chartered: Financial Transparency Spurs More Belt and Road Projects

By Phenny Lynn Palec

May 21, 2019 07:52 PM

Standard Chartered commented that the ongoing trade war between China and the United States and the Asian economic giant's commitment to follow the globally recognized best financial practices lead to more infrastructure projects nations under the Belt and Road Initiative.

Recently, the United States escalated its criticisms on China's Belt and Road Initiative after it claimed that it can offer a better option through transparent, free, and fair trade deals.

A website managed by the Department of State promoting United States policy and culture, ShareAmerica, warned through a new video that as China pushes the initiative, countries should be careful "not to get caught in China's belt and road debt trap. The video claims that nations under the Belt and Road faces risks of excess debt, environmental problems and losing control of their strategic assets. The video was posted timely to the first day of the second Belt and Road Forum in China on April 25 where around 37 nations attended and signed deals worth $64 billion.

Standard Chartered projected the continued growth in business this year despite the earlier criticisms of the United States that some projects place nations in "debt traps" caused by questionable economies.

Chinese President Xi Jinping launched the Belt and Road Initiative in 2013 to increase trade and investments between China and its partners. The president said last month that it will adopt internationally recognized principles that will ensure more environmentally and financially sustainable and multilaterally financed.

According to China, they will advise member governments to adopt key elements of the sustainability analysis framework used by Multilateral bodies such as the World Bank and the International Monetary Fund. Kevin Lau Kin-heng, a senior economist for Greater China at Standard Chartered, said that the belt and road's progress will not be hampered by debt trap concerns.

He said that, on the contrary, it will be bolstered by China's signal during last month's summit in China that it will encourage practices to ensure projects' debt sustainability. He added that China will need more investment and trading partners elsewhere as the United States and China trade conflict continues. He also said that emerging markets in Southeast Asia, the Middle East, and Africa are the top choices.

The decision of United States President Donald Trump to raise tariffs on many Chinese products from 10 to 25 percent forced companies to rush their plans to relocate or set up new investments in nations that are members of the Belt and Road Initiative of China.


Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed. Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area” For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number” Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell yo

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میں Please help the deserving persons... Salary: Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows; Welder: Rs. 1,700 daily Heavy Duty Driver: Rs. 1,700 daily Mason: Rs. 1,500 daily Helper: Rs. 850 daily Electrician: Rs. 1,700 daily Surveyor: Rs. 2,500 daily Security Guard: Rs. 1,600 daily Bulldozer operator: Rs. 2,200 daily Concrete mixer machine operator: Rs. 2,000 daily Roller operator: Rs. 2,000 daily Steel fixer: Rs. 2,200 daily Iron Shuttering fixer: Rs. 1,800 daily Account clerk: Rs. 2,200 daily Carpenter: Rs. 1,700 daily Light duty driver: Rs. 1,700 daily Labour: Rs. 900 daily Para Engine mechanic: Rs. 1,700 daily Pipe fitter: Rs. 1,700 daily Storekeeper: Rs. 1,700 daily Office boy: Rs. 1,200 daily Excavator operator: Rs. 2,200 daily Shovel operator: Rs. 2,200 daily Computer operator: Rs. 2,200 daily Security Supervisor: Rs.

A ‘European Silk Road’

publication_icon Philipp Heimberger ,  Mario Holzner and Artem Kochnev wiiw Research Report No. 430, August 2018  43 pages including 10 Tables and 17 Figures FREE DOWNLOAD The German version can be found  here . In this study we argue for a ‘Big Push’ in infrastructure investments in greater Europe. We propose the building of a European Silk Road, which connects the industrial centres in the west with the populous, but less developed regions in the east of the continent and thereby is meant to generate more growth and employment in the short term as well as in the medium and long term. After its completion, the European Silk Road would extend overland around 11,000 kilometres on a northern route from Lisbon to Uralsk on the Russian-Kazakh border and on a southern route from Milan to Volgograd and Baku. Central parts are the route from Lyon to Moscow in the north and from Milan to Constanţa in the south. The southern route would link Central Europe with the Black Sea area and