World Economic Forum panel upbeat about benefits of China’s Belt and Road Initiative. “China has long-term project” said Claude Begle
Davos World Economic Forum is a leading platform for economic affairs that attracts pioneers, leaders and companies to define priorities and shapes global economy agenda. This year, more than 3 thousand delegates attended the event in Davos and during the meeting, Belt and Road Initiative (BRI), the massive Chinese infrastructural plan to connect China with the world and implement globalization, won unanim recognition.
As pennellists stated during the meeting, Chinese BRI project will create plenty of economic opportunities and growth for countries.
And while current tensions between the world’s two biggest economies, China and the United States (Washington for the first time denied the invitation) have rattled the rest of the globe, Beijing long-term infrastructure projects that are vital to connecting nations and driving free trade.
The Belt and Road Initiative, launched five years ago by Chinese President Xi Jinping, is a signature development strategy to revive ancient sea and land trade routes linking Africa, Europe and Asia. And now has won the support of an increasing number of countries eager for China’s help.
It involves an estimated US$1.5 trillion (till $2.04 trillion) of Chinese investment across Asia alone in the next decade for infrastructure projects such as ports, industrial hubs, railways and roads.
Sustainable development and cooperation among international community: these BRI main spotlights.
Singapore’s Finance Minister Heng Swee Keat said the momentum of the initiative will not slow if countries support the vision of economic integration through building connectivity.
“Geopolitics will have an impact on the pace and the international trading system, so it is important for us to push on and look for projects that are economically viable, bankable and have proper rules and regulations”, said Mr. Heng, “plus everyone can show to the world that these are projects that have long-term benefits,” concluded Singapore’s Minister
While several experts have also expressed worry over this project, without doubts BRI is such great opportunity for different reasons: sustainable development and cooperation among international community: this BRI main spotlight.
As Claude Begle, member of Swiss National Council, stressed “this is a project of economic cooperation, between China and other countries” According to Mr. Begle “one of the key words is mutual benefit”.
Why? Because infrastructures, as definition, are long term so “China helps through investments some countries that sometimes don’t have the resources by themselves or maybe they don’t have the engineering power” added Claude Begle. “So China really helps those countries. The same opinion Mr. Mokgweetsi, President of Botswana. According to the African country “we’ve seen really and touchable mutual benefits. We can develop the country together in win-win and relationship”.
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