Belt and Road forum to promote infrastructure connectivity cooperation
- Author: Jon Douglas May 13, 2017,
May 13, 2017, 0:54
The OBOR Initiative was unveiled by Chinese President Xi in 2013.
The Belt and Road Initiative aims to expand links between Asia, Africa and Europe through billions of dollars in infrastructure investment. "It's China's idea. But it belongs to the world", he tells his daughter who doesn't understand what he means.
But Western powers seem less enthusiastic about about the project, with Italian Prime Minister Paolo Gentiloni the only leader coming from the Group of Seven industrialised nations.
Xiao said that numerous company's games were developed based on Chinese ancient stories and myths presented in traditional Chinese artistic styles.
In the fourth episode, Nilsson marks on a globe the various countries that are taking part in the Belt and Road initiative, explaining to Liliana that "some countries are moving away from globalization".
Ding Xiangqun, vice-president of China Development Bank (CDB), said at a press conference that the majority of projects supported by the CDB generated sufficient cash flow to pay back the principle and interest.
But Europe's large absence is a "missed opportunity" indicative of a "very inward-looking, very Eurocentric" outlook on the rise as leaders have less to gain politically at home from engagement with China, said Jean-Pierre Lehmann of Switzerland's IMD business school.
It has two components - the Silk Road Economic Belt that will be established along the Eurasian land corridor from the Pacific coast to the Baltic Sea, and the 21st century Maritime Silk Road. "We hope this partnership can continue going".
But she added: "What may look like benefits may turn out to entrap [participating countries] in a China-centered spider web".
The "Belt and Road Forum" opening Sunday is the latest high-profile appearance by Xi aimed at projecting his influence on the global stage ahead of a key ruling Communist Party congress later this year.
"As a company specializing in online gaming and motion pictures production, we will fully embrace the Belt and Road Initiative and incorporate it into the company's globalized strategy", he said.
New York-based Fitch Ratings expressed concern that "genuine infrastructure needs and commercial logic might be secondary to political motivations", leading to "a heightened risk of projects proving unprofitable".
During the meeting, more than 50 memorandums of understanding, plans, cooperation letters and cooperation projects in transportation, energy and communications will be signed, Chinese government officials say.
On the first day of the forum, the Prime Minister will attend the inaugural session of the One Belt One Road Summit, the plenary meeting of high-level dialogue and the state banquet.
"This. will be a jointly consultative document by all parties to reflect their shared consensus on advancing the Belt and Road", foreign ministry spokesman Geng Shuang told reporters on Wednesday, referring to the summit communique.