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India gives China's 'One Belt One Road' summit a deliberate miss

17 Mai 2017

"China did not fully consider local people's feelings about the projects".

"We are already a global leader in mobile payment, and we are ready to share our technology with developing countries. No country can accept a project that ignores its core concerns on sovereignty and territorial integrity". Both are major funding sources for the new trade route. "However, they are also investing enormous sums in building even more coal-fired plants not just in China but around the world".

"Based on the principle of mutual benefit we need to identify, to the maximum extent possible, the positive effects of the tax system and limit its negative impact", Wang Jun said and emphasized the need to continue strengthening the neutrality and transparency of the tax system and avoiding the obstacles in cross-border trade.

Meanwhile, breathless state-run coverage portrayed the Belt and Road Initiative as having near limitless potential to remake the world, with China - and Xi - at its center. In recent years, he says, China has felt hemmed in by the USA and its ring of alliances with Japan, the Philippines and Australia - especially during the Obama administration's pivot to Asia.

"This makes the commitment absolutely definitive", Kuhn said.

"While China is taking an active stance on the global stage, a move to weaken the global climate regime will alienate the U.S.", said Li. A change of presidents in the Philippines and the US withdrawal from the Trans-Pacific Partnership Agreement, which excludes China, have helped.

"China will scale up financing support for the Relt and Road initiative by contributing an additional 100 billion yuan to the Silk Road Fund, and we encourage financial institutions to conduct overseas RMB fund business with an estimated amount of about 300 billion yuan".

Several leaders have voiced support for China's idea that development will help alleviate security problems, including terrorism.

The event in Beijing saw 29 heads of state - including Pakistan Prime Minister Nawaz Sharif, Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan - coming together for the two-day Belt and Road Forum (BRF).

India is one notable holdout.

The China-Pakistan Economic Corridor has been the bone of contention between India and China since it was ideated.

"He (Xi) is very anxious to move as early as possible to take advantage of the vacuum created by Donald Trump and show that China has the capacity to be a rule maker", China political analyst Willy Lam said. The United States and Japan, which Beijing sees as rivals for influence in Asia, are not part of "Belt and Road".

"The new OBOR family and the wider global community should coordinate and synergise their initiatives to create and enhance the space for cooperation", he said adding that at the same time, dialogue and communication with nations outside the belt-road routes is necessary to dispel misapprehensions.

"Much of that lending will in fact be made at commercial rates, not concessional rates", said Ben Simpendorfer, managing director of Silk Road Associates. While some projects under the Belt and Road banner are clearly defined, others remain vague, and although investment in infrastructure across Asia is vast, calculating the precise value of the initiative is hard.

In a statement released on Saturday, India called China's OBOR effort "little more than a colonial enterprise [that would leave] debt and broken communities in its wake", cautioning China against starting a project that could lead to "unsustainable debt burden for communities", as well as serious damage to the environment while infringing on nations' sovereignty. Amid Chinese proclamations that all were welcome to join the Belt and Road initiative, one leader enjoyed a place of honor.

India gives China's 'One Belt One Road' summit a deliberate miss