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Showing posts from February 11, 2020

Europe sees few benefits from China’s Belt and Road

AsiaTimes.com By  GARY SANDS FEBRUARY 11, 2020 When Chinese President Xi Jinping first launched his “Silk Road Economic Belt” and “21st Century Maritime Silk Road” in the autumn of 2013, few details were available on just how Xi’s initiative to reinvigorate the ancient land and maritime trade routes, collectively known as the Silk Road, would play out. Six years on, rebranded as the Belt and Road Initiative (BRI) and enshrined in the Communist Party’s constitution, Xi’s signature foreign policy has taken on more shape. BRI investment is now  projected  to bring more than US$1 trillion of funding for foreign infrastructure over a 10-year period from 2017. Despite the BRI having drawn a fair amount of criticism over a lack of transparency, environmental degradation, and poor governance, assurances from Beijing still entice other countries seeking investment and their companies seeking financial gain. During his speech at the Belt and Road Forum for International Cooperation in May 2017,