EIB supports China's Belt and Road initiative

China and Pakistan have agreed to jointly upgrade the 1,600-kilometer railway linking southern and northern Pakistan as part of a move to push forward construction of the China-Pakistan Economic Corridor, a Pakistani special envoy said on Sunday, China Daily reported. What kind of dialogue is meaningful dialogue?

"The Belt and Road Initiative aims to connect economies, communities, and people". India skipped the summit as it voiced displeasure at the China-Pakistan Economic Corridor, a Belt and Road project aimed at linking northwestern China to the Arabian Sea.

Next year marks the 15th anniversary of China-Asean strategic partnership, and Cambodia will host the second meeting of Lancang-Mekong Cooperation initiative.

"The most important directions of conjugating (the Eurasian Economic Union and the initiative promoted by China) are the financial sphere and technical standards and also solving environmental cooperation issues", Bordachev said. He also underscored that the One Belt One Road connectivity initiative, which would cover Asia, Europe and Africa, would back green and low-carbon development.

"And ultimately how much political sovereignty is sacrificed, and what is the risk to completion of projects in the event of a disorderly slowdown in the domestic Chinese economy", said the U.S. investment firm specialising in frontier and illiquid markets.

Outside China, it is the largest stakeholder in the Beijing-led Asian Infrastructure Investment Bank and a founding member of the New Development Bank.

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"China welcomes the participation of India to the BRI, the answer is clear", she said.

Pointing to the big picture, Hu Shisheng, Director of the Institute of South and Southeast Asian and Oceanian Studies at the China Institutes of Contemporary International Relations, stressed that their common opposition to the growing anti-globalisation sentiment, imparts fresh strategic cement to China-India ties on the global stage.

Singh described the quarrel over Pakistan as "a fuss" that would only benefit Beijing and Islamabad. "It gets harder from now onwards". "After China laid out the plan for the corridor's development, businesses from more than 50 countries and regions have been involved in CPEC-related projects because they've seen opportunities", Mahmood said.

The dispute is unlikely to hamper the two countries' existing economic cooperation.

That is despite complaints by its trading partners that China is the most-closed major economy.

CNPC now has more than 50 joint projects underway in 19 countries and regions participating in the Belt and Road Initiative, including Russia, Kazakhstan, Turkmenistan, Iraq, Iran, Indonesia and Singapore. "But this is not how countries interact", an editorial in Global Times said.

  • Rita Burton