OBOR: In major blow to China, Europian Union endorsement unlikely

China Pakistan plan to modernize vital railway link Posted
China Pakistan plan to modernize vital railway link Posted
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26 May, 2017

The meeting gave Xi a spotlight to raise his standing overseas and at home, where he faces a crucial Communist Party congress later this year.

Facts about the initiative have shown that the Belt and Road project responded to the trend of times and is in line with the common interests of the people, Hua said, reiterating Chinas stand.

Xi also appealed to foreign leaders to resist pressure to close markets.

"They see an opportunity to fill the vacuum and take advantage of perceptions globally", said Andrew Gilholm, director of analysis for North Asia at Control Risks Group, referring to changing perceptions of United States leadership in the Trump era.

The Belt and Road initiative is seen as part of China's answer to the Trans-Pacific Partnership (TPP) deal, a regional trade pact involving Pacific Rim countries, but excluding China.

"Pursuing the Belt and Road initiative, China has no intention to form a small group detrimental to stability", as the pursuit of the initiative requires a peaceful and stable environment, Xi said.

"Construction of the Pan-Asia Railway Network linking China and Southeast Asia is gaining steam, and India is increasing promotion of its "Look East" policy", the researcher observed.

Despite claims that it welcomes foreign investment, China has always been criticised for erecting barriers in a wide range of sectors from automotives to finance, while also subsidising its own companies.

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Palestinian activists have also noted that Trump's rhetoric with regard to Israel and Palestine is no different from previous U.S. administrations.

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The activist fund was more concerned with Jia's expansion into electric cars than his handling of the LeShi streaming service. Meanwhile, Yang Lijie, LeEco's CFO, has also announced that he will be resigning, to be replaced by Zhang Wei.

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In the demonstration on Saturday, the Election Commission reiterated its claim that voting the machines were tamper-proof. Sanjay requested Election Commission to not impose any restrictions on tampering of EVMs.

A total of $46 billion Chinese investment was pledged then.

Many doubt the motives behind its latest plan. The initiative spans 65 countries representing 60 percent of the world population and around a third of global gross domestic product.

Economic relations between China and ASEAN have been steadily improving.

The strengthened cooperation between China and the European Investment Bank to support the Belt and Road Initiative will enable increased dialogue and examination of individual infrastructure projects located in Asia, Europe and Africa and covered by the initiative. In addition, China will provide 60 billion yuan in the next three years for poverty alleviation in developing countries along the new Silk Road.

Before this weekend's summit, China's Ambassador to India Luo Zhaohui tried to reassure New Delhi that the initiative was only about economics.

While the absence of India was a talking point among the 4,000 Chinese and foreign media registered to cover the event, there was no official comment from China on New Delhi giving the forum a miss. A high-level European Union diplomat, who spoke to The Guardian on condition of anonymity, said that for Europe, the Belt and Road initiative can only be a success if it's based on transparency and co-ownership.

Speaking to world leaders on the last day of a forum in Beijing to promote its One Belt, One Road (OBOR) trade and infrastructure initiative, Xi said "economic globalization has encountered some setbacks".

"I think there is still room for improvement in this area", Zypries said.


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