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.
If the Belt and Road Initiative is successful, China in 10 years’ time will be a very different China.
Actually, if China doesn’t build infrastructure in these countries, no other countries will.
“The Belt and Road might see the development of a framework or structure. But at the moment, it is really early days. So it is hard to be clear about what it really means.”
The development process under the BRI and CPEC in Afghanistan will also help eliminate terrorism and generate employment opportunities in the country for unemployed youth.
Is this a new contest of wills between Australia and China in the Oceania region? Or might it be possible for the two most important partners for the South Pacific to collaborate and help address the serious development needs of the island nations?
As China-proposed Belt and Road Initiative (BRI) extended its footprint, launching investment projects along both the ancient Silk Road as well as across the entirety of Eurasia and Africa, Washington saw an urgent need to counter China’s projection of influence. The BUILD Act is America’s belated response to BRI.
By proposing to revitalize the ancient Silk Road, President Xi offered a new ambitious framework for the signing of economic and business accords, the realization of investments and generally the strengthening of ties between China and the world.
“After its completion, it will take only two hours from Colombo, the capital, to Hambantota, compared to the present journey of four hours or more.”
Overhauling Pakistan’s economic strategy and carrying out social development reforms remain a priority for the new government and Pakistan can learn a lot from China’s reforms under the late Deng Xiaoping that were most practical and achievable as they focused more on sustainability than high rates of economic growth, resulting in unprecedented achievements over time.
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