EU backs away from trade statement in blow to China’s ‘modern Silk Road’ plan

Member states wary of Xi Jinping’s Belt and Road initiative without guarantees on transparency, sustainability and tendering process

Xi Jinping at the Beijing summit
The EU’s rejection of the trade statement will come as a blow to XI Jinping, who hoped the two-day summit in Beijing would bring world leaders behind his Belt and Road vision. Photograph: Mikhail Svetlov/Getty Images

The EU has dealt a blow to Chinese president Xi Jinping’s bid to lead a global infrastructure revolution, after its members refused to endorse part of the multibillion-dollar plan because it did not include commitments to social and environmental sustainability and transparency.

Xi made his latest bid for global leadership on Monday, telling leaders including Russia’s Vladimir Putin and Turkey’s Recep Tayyip Erdoğan that the world should reject protectionism, embrace globalisation and pull together like a skein of geese. Tiếp tục đọc “EU backs away from trade statement in blow to China’s ‘modern Silk Road’ plan”

Ambition to meet reality as China gathers world for Silk Road summit

channelnewsasia

When leaders of 28 nations gather in Beijing next week for a summit to map out China’s ambitious new Silk Road project, one question is likely to be on attendees’ minds – what exactly is the Belt and Road Initiative?

 
People take pictures of the “Golden Bridge on Silk Road” installation by artist Shu Yong, set up ahead of the Belt and Road Forum in Beijing, China May 10, 2017. REUTERS/Thomas Peter

BEIJING: When leaders of 28 nations gather in Beijing next week for a summit to map out China’s ambitious new Silk Road project, one question is likely to be on attendees’ minds: what exactly is the Belt and Road Initiative?

Proposed in 2013 by President Xi Jinping to promote a vision of expanding links between Asia, Africa and Europe underpinned by billions of dollars in infrastructure investment, the project is broad on ambition but still short on specifics. Tiếp tục đọc “Ambition to meet reality as China gathers world for Silk Road summit”