President Rodrigo Duterte will advance the Philippines’ development interests when he attends China’s “Belt and Road” forum next week, Philippine Ambassador to China Chito Sta.
Advertisement
Vietnam’s President Tran Dai Quang is among the seven top leaders from Asean who will attend the Belt and Road forum in Beijing from Sunday to Monday. “My hope is that we will see an increase in trade volumes from China to Africa and from Africa to China”.
In Europe, anti-globalization sentiment has grown among voters and the continent has been rattled by Britain’s looming exit from the European Union.
In recent months, China has been presenting itself as a leader in globalization, often taking jabs at the protectionist policies of the Trump administration.
Plenty have launched thus far, including a 418-kilometer rail link with Laos, and a collection of infrastructure projects totaling $46 billion, named the China-Pakistan Economic Corridor. The company invested US$12.6 billion in belt and road projects in 2016, accounting for one-10th of the US$126 billion of new projects that Chinese firms signed a year ago. In addition, Andrei Denisov said that the China’s leader intends to visit Russian Federation in early July. “But when you’re not there, there is a void that China’s going to fill, ‘” Baucus told The Associated Press. “We can make things better by engaging with China instead of needlessly containing it”, he said.
Sri Lankan Buddhist monks and villagers face government soldiers and shout slogans to protest a plan to take over private land for an industrial zone in which China will have a major stake outside the inauguration ceremony for the industrial zone in Mirijjawila village in Ambalantota, Sri Lanka.
Beijing had sent a draft proposal on OBOR to Nepal late a year ago.
And China and France are jointly developing the $24 billion Hinkley Point nuclear power plant in the UK.
Russian President Vladimir Putin will also attend, reflecting his country’s importance in China’s OBOR strategy; in Hunchun, some enterprises are already seeing benefits from mutual trade.
It is now estimated that OBOR has an investment volume of 800 to 1000 billion Dollars, with more than 900 individual projects in 65 participating states representing more than 60 per cent of the current world population.
Chinese demand “is certainly positive if it means that these frontier countries can tap into a more diversified investor base”, said Mark Baker, investment director for emerging-market fixed income at Standard Life Investments Ltd.in Hong Kong.
Meanwhile, reports of trains loaded with Chinese goods trundling towards Europe laden but returning empty have led to the quip “One Belt, One Way”, Dreyer said.
The spokesperson said, as an organiser and host of the forum, China would warmly welcome all the guests from around the world including Pakistan.
“Many projects have been signed, but these need to be implemented on the ground”, he said. In it, around 15 young singers dressed in crisp white outfits unpack the economic and cultural gains the countries that have signed up for the initiative are predicted to enjoy.
Advertisement
He claimed that a majority of the local population is viewing this ambitious project as a clear attempt by China to exploit Pakistan’s valuable resources.
