“The Belt and Road Initiative continues the historical glory of China since ancient times. The UAE’s commitment to the BRI has been evident from the very beginning.”
National Governments, especially from advanced economies, appear to have little appetite to fund their own infrastructure projects, let alone other countries.
The reason why I found China-Ghana investment and trade cooperation very important was that it gave us an opportunity for the “Ghana to China market”.
The Belt and Road Initiative is that understanding that we need to also look at ways and means to continue in terms of globalization and to enhance the integration of different countries.
“ I originally thought that the initiative was limited to economic aspects. However, after gaining a deeper understanding about this initiative, I found that the Belt and Road will not only bring new momentum for global economic growth, but also promote the adjustment of globalization in time.”
When the Belt and Road Initiative was first put forward in 2013, few might have imagined that it would encompass more than 150 countries and international organizations in collaborative projects in a matter of years. The initiative, proposed by Chinese President Xi Jinping and consisting of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, aims to boost connectivity along and beyond the routes of the ancient Silk Road. With a view to enhancing both China’s development and its cooperation with global partners, it focuses on cementing links in five key areas: policies, infrastructure, trade, finance, and people-to-people bonds. Policy coordination The number of cooperation documents signed between China and other countries has increased substantially as the circle of participants in the Belt and Road Initiative widens. Italy became the first member of the Group of Seven to sign a memorandum of understanding on the initiative with China in March. Italian Prime Minister Giuseppe Conte said Italy is glad to seize this historic opportunity to join the Belt and Road Initiative, with its special geographical advantage in building connectivity. To date, China has signed 173 cooperation documents with 125 countries and 29 international organizations. According to Building the Belt and Road: Concept, Practice and China’s Contribution issued in May 2017, there were only 46 agreements with 39 countries […]
Italy’s joining of the BRI in March, has generated a positive demonstrative effect on other Western European countries.
China can build and disseminate certain international discourse conforming to the spirit of open times. However, it cannot stop at simply being a “discourse”.
“By investing in infrastructure, these countries are more or less imitating China’s development model. But I don’t think that’s a bad thing.”
Skepticism around the BRI has always existed. In the context of the world economy, the Asia-Pacific economy, despite positive trends, is also facing uncertainty and challenges such as stagnant growth. China’s BRI, with interconnectivity as the acting point, promotes the flow of production factors and public goods to further unleash economic growth potential.
What is your first impression of this initiative? Which countries have benefited from it? What projects are being jointly built along the routes? Is it really a debt trap?
The Egyptian President had previously declared that the Belt and Road Initiative (BRI) converges effectively with the AU’s Agenda 2063, which aims towards a peaceful, prosperous and integrated Africa.
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