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Cambodia to benefit from China-proposed Belt-Road initiative: scholar

17 Mai 2017

According to Wang, as of December China had signed bilateral air transportation agreements with 120 countries and regions - including 62 involved in the Belt and Road Initiative.

"I do not know what the spokesperson (of MEA was) trying to say". What kind of dialogue is a meaningful dialogue. "What kind of a positive attitude the spokesman wants China to have?"

The billionaire head of Wanda Group, who was the most prominent Chinese businessman at the Belt and Road Forum (BRF), has said that his group has ambitious plans for India, India Today reported.

"U.S. firms have a long and successful track record in global infrastructure development", Pottinger told the forum, "and are ready to participate in "Belt and Road" projects".

To further facilitate worldwide cooperation for new infrastructure, creation of additional industrial capacity and strengthening of financial services, the China Development Bank and the Export-Import Bank of China are going to set up special lending schemes worth 250 billion yuan and 130 billion yuan respectively, he said.

Covering a broad geographic swathe from the Arabian Sea to Southeast Asia, Mr. Hu highlighted that China-Pakistan corridor, as well as the India-led Bangladesh, Bhutan, India, Nepal initiative and BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) "are progressing smoothly", breaking new ground for regional development.

"The Belt and Road initiative gives our continent the opportunity to make a paradigm shift". "And if the Indian side is willing to participate, we would welcome that".

Under conditions where both Russian Federation and China face increasing pressure from the United States, President Vladimir Putin was given pride of place among the global representatives at the forum's opening.

China's participation in the European Bank for Reconstruction and Development only resulted in a Belt and Road-related minor project in 2016, the improvement of a section of the expressway connecting Dushanbe, the capital city of Tajikistan, to neighboring Uzbekistan, with the EBRD and AIIB investing $27.5 million each.

"Obor is an initiative in the public domain for the past four years, and China's intentions are open and transparent", Hua said, before referring to her counterpart's claim.

However, the developments have contributed to a cooling of relations between China and India, whose government boycotted the summit over concerns that its soverignity is being compromised by projects in the disputed Kashmir region.

Ties between Beijing and Manila have improved since Philippine President Rodrigo Duterte visited the Chinese capital in October.

For his part Xi said the BRI was not aimed at cutting across the initiatives of other countries.

Powerful sections of the U.S. political establishment regard China and its economic initiatives as the single most important threat to the global position of the United States.

"Roads, electricity, telecommunication and water empower our people, and bring prosperity and freedom".

"Our door is always open", China's foreign ministry spokesperson Hua Chunying said in Beijing.

But Peking University economics professor and former World Bank chief economist Justin Lin said the projects under the initiatives required "billions and even trillions of USA dollars of support". But despite the Union's formal backing of China's grand infrastructure plans, Belt and Road risks being a non-starter in Europe under the current economic and financial conditions.

Facts about the initiative have shown that the Belt and Road project responded to the trend of times and is in line with the common interests of the people, Hua said, reiterating China's stand.

The editorial said, "The global community has shown a very positive response to the infrastructure-building initiative".

Cambodia to benefit from China-proposed Belt-Road initiative: scholar