CPEC will not change China's position on Kashmir, says spokesperson
- Author: Leroy Wright May 25, 2017,
May 25, 2017, 21:41
A much referred analysis by the global consultancy McKinsey suggests that the initiative has the potential to massively overshadow the US' post-war Marshall reconstruction plan, involving about 65 per cent of the world's population, one-third of its GDP and helping to move about a quarter of all its goods and services. From its inception, OBOR has gained honest attention from policymakers, the academic community and other concerned stakeholders across the world.
The One Belt, One Road initiative, which China proposed in 2013, is a matrix of traditional Chinese or, to put it more broadly, of Asian political perception. In fact, according to the Chinese leader, since its inception in 2013, "over 100 countries and global organizations have supported and got involved" in his signature initiative.
He reminisced the silk-road initiative has spanned thousands of miles and years and that "the ancient silk routes embody the spirit of peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit".
The bottom line is positive particularly after all the four provincial chief ministers accompanied the prime minister last week to attend a historic summit on "One Belt One Road"(OBOR) held in Beijing, aimed at connecting and integrating 69 economies of the world.
This funding is not direct investment but loans, as in the case of China-Pakistan-Economic Corridor, which the Chinese sources will provide to the participant countries. "Similarly, transport that allows trade across the region, but also allows all people access to markets, people in rural areas could access school and health care".
China invited Indian Prime Minister Narendra Modi and six cabinet colleagues to its "new Silk Road" summit this month, even offering to rename a flagship Pakistani project running through disputed territory to persuade them to attend, a top official in Modi's ruling group and diplomats said. After the normalization of bilateral relations between Norway and China, it is expected that the two countries' Arctic cooperation will grow significantly. This complementary role will go a long way in supporting the success of this long-term undertaking described by Chinese President Xi Jinping as "a project of the century". But because Russian Federation is the only large partner of Beijing who is ready to take the risks of reshaping of the world order and not be a mere bit player in China's project. "Our relations with our other neighbours are all but non-existent".
It is still unclear to what extent China has been successful in stimulating and upgrading its domestic demands, how widespread the beneficial impact of its prosperity has had on its poorest citizens and how long the participating countries will enjoy the largesse of China's economic agenda. As a country that is committed to supporting the United Nations' Sustainable Development Goals, China emphasizes "sustainability" as one of its Arctic policy objectives.
Second, China has pledged US$124 billion ($174 billion) to underwrite infrastructure projects under the BRI banner. Moreover, it has pledged to provide emergency food aid worth 2 billion yuan to developing countries along the Belt and Road, and make an additional contribution of United States dollars 1 billion to the Assistance Fund for South-South Cooperation, 100 "happy home" projects, 100 poverty alleviation projects and 100 health care and rehabilitation projects in countries along the Belt and Road.
Projects under China's vision of OBOR (One Belt-One Road), there would be vast infrastructure development in the countries of its routes.
This is a feasible project as China has considerable economic power, and enormous experience in infrastructure development.
He alleged that just in the name of development and economic growth, Pakistan us agreeing to everything what China was saying.
Bangkok has made known its wish to be included in the Silk Road project. Though riled by the CPEC's trampling on its sovereignty, New Delhi is prepared to react positively on other OBOR plans. Bangladesh needs to utilise her geographic location and harness the benefits from the OBOR initiative.
In another noteworthy development, on 3 May, Malaysia's TRX City company, which is owned by the Ministry of Finance, pulled out of its agreement with China Railway Engineering Corporation and its local Malaysian partner to jointly develop the massive Bandar Malaysia railway hub project in Kuala Lumpur.