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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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Belt and Road Updates July 11

Belt and Road Updates July 11

China’s Belt and Road Initiative Keeps Expanding and Developing Nations: China’s Belt and Road Initiative continues to expand, leading nations and billions of people out of backwardness, and into development, through massive scientific-technological projects. A relating of some of the recent, important developments: ** Indonesia has asked China to set up a special fund within its Belt and Road Initiative for investment in Indonesia, Southeast Asia’s largest economy. Indonesia drew up a menu of 30 projects, worth $91 billion, that China could invest in. Indonesian President Joko Widodo made the request for a special fund during a meeting with China’s President Xi Jinping on the sideline of a G20 summit in Japan last week. Were China to agree to such a special fund, then Indonesia’s Finance Minister Sri Mulyani Indrawati is doing a study to create it.     Already, the BRI is involved in Indonesia. The most high-profile BRI project is a $6 billion high-speed rail project connecting the capital, Jakarta, to the textile hub of Bandung– where the founding conference of the Non-Aligned Movement was held. The contract was awarded to a consortium of Chinese and Indonesian state firms in 2015. Another project is a $1.5 billion hydropower […]

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The 2nd Belt and Road Forum in Stockholm, held on Wednesday, May 22, the China Cultural Center, was an exceptional event and powerful demonstration of the great interest in the Belt and Road Initiative (BRI) and cooperation with China in Sweden, a country whose political elites and mainstream media are still skeptical and oblivious to the BRI. The international nature of this full-day event was almost unprecedented in terms of the discussion of the BRI in this country. A sizeable portion of the foreign diplomatic corps in Stockholm turned out to discuss the outcome of the Second Belt and Road Forum for Economic Cooperation (BRF2) which took place in late April in Beijing. 33 diplomats including 13 ambassadors from four continents joined business representatives, academicians as well as one Swedish parliamentarian, a city councilman, and 4 journalists, forming an audience of over 100 persons. The event was organized by the Belt and Road Executive Group for Sweden (BRIX), in collaboration with the China-Sweden Business Council. Ulf Sandmark, the Chairman of the BRIX, gave the opening speech of the morning session, pointing out that the BRI is not just railways or trade routes but ‘development corridors’. The BRI is definitely not any […]

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BRI Update June 11

BRI Update June 11

Eurasian Economic Union and the Belt and Road Initiative Create Synergies: On June7, China’s President Xi Jinping and his host at the St. Petersburg International Economic Forum (SPIEF), Russian President Vladimir Putin emphasized the importance of closer coordination between the China-initiated Belt and Road Initiative (BRI) and the Russia-initiated Eurasian Economic Union (EEU). This would create the largest economic area on the planet both in number of nations and geographical outreach. The Shanghai Cooperation Organisation (SCO), which will have its summit meeting on June 14-16 in Bishkek, Kyrgyzstan, will bring together many nations of both groupings, but also significantly India, which is neither a member of the BRI nor EEU. President Xi Jinping: The Belt and Road Initiative addresses the Crisis of the century: Speaking at the Plenary session of the SPIEF on June 7, President Xi Jinping opened by saying that the world is facing “profound changes unseen in a century,” and that “China stands ready to make joint efforts with the international community to create an open and pluralistic world economy, a happy society that is inclusive and benefits all, and a beautiful homeland with harmonious coexistence between humanity and nature, and explore a new path of sustainable […]

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BRI Updates

BRI Updates

Weekly BRI update May 27-June 3 Compiled by: Mark Bender Edited by: Hussein Askary Africa Zimbabwe, Mozambican leaders meet [at Ramaphosa inauguration] – 25 MAY, 2019 – 00:05 President Mnangagwa last night met his Mozambican counterpart, President Filipe Nyusi, and discussed the forthcoming summit between the United States of America and African states to be hosted by the country’s neighbour next month, among other bilateral issues. https://www.herald.co.zw/zim-mozambican-leaders-meet/ China denounces sanctions on Zimbabwe – 28 May, 2019 SANCTIONS imposed on Zimbabwe are not just illegal, but unjust and should be removed as they are causing underdevelopment and the suffering of innocent people. Addressing delegates at the commissioning of the US$10 million brick and tile manufacturing plant at Sino Zimbabwe Cement Company (SZCC) on the outskirts of Gweru yesterday, Chinese Ambassador to Zimbabwe Mr Guo Shaochun said China, as an all-weather friend of Zimbabwe, will continue supporting the country so that it transforms into an upper middle-income economy by 2030. “We hope that through our joint efforts, we will be able to provide more support for Zimbabwe to rebuild and restore its industry, achieve economic independence and alleviate the suffering of its people caused by illegal and unjust sanctions. “In any case, it’s unfair to […]

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