These rational participants have not been forced to jump on board at gunpoint

These rational participants have not been forced to

This preview shows page 24 - 26 out of 392 pages.

These rational participants have not been forced to jump on board at gunpoint, but must have debated and mulled their options before signing on the dotted lines. As the BRI Summits in May 2017 and now in April 2019 indicate, each member state has reviewed the progress, scrutinized the development and even reviewed options. The benefit of the BRI is that it is not being forced by China but discussed and evaluated by experts. In fact, if the USA is apprehensive of the transparency of the BRI, it should come on board and lend its voice on the platform with its concerns, rather than be critical from outside. The second BRI forum opened at Beijing from 25-27 April 2019. Over 5000 participants from more than 150 countries, including 37 heads of state or government, attended the three-day event. The forum, with “Belt and Road Cooperation: Shaping a Brighter Shared Future” as its theme, brought about high-quality cooperation under the initiative. Trade volume between China and countries participating in the BRI has exceeded $6 trillion, investments have grown to over $80 billion and around 300,000 jobs have been created in the countries involved in the initiative. Thus it is not a geopolitical tool or a debt trap for participating countries, but a platform for cooperation.
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AINUDDIN KIBZAI Current Affairs-2020 ESHAAL KIBZAI IBIBZAI2 25 How China’s Big Overseas Initiative Threatens Global Climate Progress China’s Belt and Road Initiative is a colossal infrastructure plan that could transform the economies of nations around the world. But with its focus on coal-fired power plants, the effort could obliterate any chance of reducing emissions and tip the world into catastrophic climate change. C hina’s Belt and Road Initiative (BRI), launched by President Xi Jinping in 2013, has been described as the most ambitious infrastructure project in history. It is a plan to finance and build roads, railways, bridges, ports, and industrial parks abroad, beginning with China’s neighbors in Central, South, and Southeast Asia and eventually reaching Western Europe and across the Pacific to Latin America. The more than 70 countries that have formally signed up to participate account for two- thirds of the world’s population, 30 percent of global GDP, and an estimated 75 percent of known energy reserves. The first phase of transport and energy infrastructure and seaports will enable a level of industrial development and economic integration that Beijing hopes will generate new markets for Chinese companies and create a Chinese-dominated network of countries, tied into C hina’s economic and industrial realm. If successful, it would create a sphere of technological, economic, diplomatic, and strategic power big enough to challenge that of the United States. BRI has the potential to transform economies in China’s partner co untries. Yet it could also tip the world into catastrophic climate change.
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  • Summer '12
  • Dr. James
  • Economics, People's Republic of China, BRI

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