Dear MEL
Topic Readers,
Xi calls for
joint efforts to turn Belt and Road into path for peace, prosperity
The Silk Road
Economic Belt and the 21st-century Maritime Silk Road, or Belt and Road in
short, is a development strategy proposed by Chinese president Xi Jinping. It
aims to establish closer connectivity and cooperation among countries between China
and the rest of Eurasia by a land belt and a sea road.
In order to
demonstrate the impact on and interest by the countries involved, China hosted the
Belt and Road Forum for International Cooperation on May 14-15, 2017 in
Beijing, which was attended by representatives from more than 130 countries and
70 international organizations, including 29 heads of states, such as Russian
President Vladimir Putin and Turkish President Recep Tayyip Erdogan.
What seemed
to have been praised the most during the conference was the amount of money
China committed to invest for the initiative, an equivalent of RMB 380 billion,
or USD55 billion, on infrastructure, industrial capacity and financing to the
countries along and around Belt and Road.
For some of
the less-developed countries, such generous investment is substantial enough to
change their previous priorities, preferences or alliance, even if a good
portion of the money might be paid to Chinese companies and workers through the
development projects.
Enjoy reading
and thinking if this new initiative and investment are going to change the
global map in the near future.
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