to reckon with. It dreams of developing financing structures competing with the Bretton Woods system. As I said before, OBOR is a most clever strategy of China with not so hidden motives of economic, developmental, strategic and geopolitical grip over large part of the world. It is the most ambitious project ever undertaken by any single country. China is excluded from G7 group of giants. OBOR is its secret weapon to settle the score. The trigger points for initiating OBOR are the slowdown of the economy with surplus capacity of steel, cement and machinery. China has huge foreign currency reserve of US $ 3 trillion (as against India’s 400 billion or just 13% of China’s). It is having internal cash reserves of 21 trillion dollars. This is twice its GDP.
Now let us see who is supporting and OBOR and who is not To put it bluntly, practically all the countries are supporting OBOR, including Russia and Iran except India. Even Nepal is also in. Pakistan and Afghanistan are obviously participating. India is a lone opponent of significance. Agreed that a significant presence of China in many small countries covered under OBER, while
- Fall '17
- Rabia FAisal
- Indian Ocean