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Belt and Road Updates, July 18

Belt and Road Updates, July 18

China Leading Global Transportation Investment in Africa: A new report  has identified China as the largest non-continental investor in rail and transportation projects in Africa, and shone a light on the potentials of the New Paradigm economy. China now has 21.3% of an investment market now estimated at $430.3 billion. The figures were compiled by Project Insight (a firm which creates business management software), whose authors tracked 448 “large-scale transportation projects” involving road, rail and bridges, across the continent. The authors highlight that both the IMF and Africa Development Bank project—even with existing infrastructure density—forecast continued growth for the region, and state that this growth rate will only increase when these projects are realized. The executive summary of the 31-page report takes particular note of the Chinese influence throughout the continent. “China has made numerous investments across Africa,” they write “becoming a major financier of key transport projects in the region. At least five African countries have had their railway systems funded by China: Kenya, Ethiopia, Angola, Djibouti and Nigeria. “Based on the pipeline of projects tracked by the publisher, Chinese contractors are involved in road and railway projects that account for 21.3% of the overall project pipeline value,” followed […]

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BRI Update July 4, 2019

BRI Update July 4, 2019

The Belt and Road at the G-20 Summit in Japan:  The Chinese President Xi Jinping brought the up the role of the Belt and Road Initiative in “building a high-quality world economy” in the G-20 meeting in Osaka, Japan on June 28. In his speech, President Xi said: “The G20 is the premier forum for international economic cooperation. We, as the leaders of major economies, are duty bound to re-calibrate the direction of the world economy and global governance at this critical juncture, work together to boost market confidence, and bring hope to our people.” He emphasized the importance of thinking on a long-term basis, an idea that has been missing from the Western-dominated, short-term profit maximizing economic philosophy of the past 30 years. “We must keep in mind our shared future. In today’s world, all countries’ interests are closely intertwined. We have a high stake in each other’s future. By expanding common interests and taking a long-term view, we can realize enduring peace and prosperity in the world and deliver a better life to all our people. We must not allow ourselves to become prisoners of short-term interests and make irrevocable mistakes of historic consequences,” Xi said. President Xi, […]

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BRI Update June 18

BRI Update June 18

2019.06.21 Shanghai Cooperation Organisation members Support Belt and Road Initiative. The two-day 19th summit of the Shanghai Cooperation Organization (SCO) in Bishtek, Kyrgyzstan concluded on June 14 with the issuance of a joint declaration, and the signing of 14 agreements, including many bilateral cooperation agreements among the heads of state attending. There was particular emphasis on combating international terrorism and upholding the principles of multilateralism. However, the SCO is increasingly incorporating economic cooperation as a key element of the security and stability of this Eurasian part of the world. Concerning the Belt and Road Initiative and its close coordination with the Eurasian Economic Union (of which Russia, Kazakhstan and Kyrgyzstan are members), the Bishkek Declaration stated: “The Republic of Kazakhstan, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Russian Federation, the Republic of Tajikistan and the Republic of Uzbekistan reaffirm their support for China’s Belt and Road Initiative and praise the results of the Second Belt and Road Forum for International Cooperation (Beijing, 26 April 2019). They note the ongoing work to implement this initiative together, including the efforts to align the Eurasian Economic Union projects with those under the Belt and Road initiative.” It is noteworthy, though, that […]

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