Published: Tue, May 16, 2017
Tech | By Constance Martin

Don't Mess With China's Silk Road Initiative: Venezuela

Don't Mess With China's Silk Road Initiative: Venezuela

Part of the massive funding boost, which is aimed at strengthening China's links with its trading partners, includes $9bn in aid to developing countries and worldwide institutions that form part of the Belt and Road project.

"The One Belt One Road (OBOR) concept is the most significant transformative initiative in recent human history".

China was basking in praise on Monday for its new Silk Road even as some countries raised concerns over the project seen as boosting Beijing's global clout on trade and geopolitics.

The Belt and Road Initiative was first proposed by China in 2013.

The list of the 28 confirmed heads of state and government attending the forum also include Philippine President Rodrigo Duterte, Turkish President Recep Erdogan and Italian Prime Minister Paolo Gentiloni.

"Civilization project for the future", as Putin called the New Silk Road, should bring stability and prosperity along its way. Since 1999, that figure has surpassed US$7.5 billion.

He said deep-seated problems in global development had yet to be addressed effectively, with worldwide trade and investment sluggish, and economic globalisation encountering headwinds.

Seeking to portray the initiative as welcoming and inclusive, Xi promised to avoid forming a "small group" of allies, which he said might harm regional stability.

The summit is showcasing Xi's cherished One Belt, One Road initiative, a revival of the Silk Road that could cement China's growing global clout on trade and geopolitics.

OH cop almost dies after accidental OD during traffic stop
Mercer said officers have gloves and bags in their cars for when they are working a call where a suspicious powder is involved. They administered Narcan and transported Green to the hospital where three additional doses were given to revive him.

British finance minister Philip Hammond said London was "ready to work with all Belt and Road partner countries to make a success of this initiative".

The OBOR project is so vast in its scope, that it will link most Asian countries to China.

Mr Xi said the new Silk Road would be open to all, including Africa and the Americas, which are not situated on the traditional Silk Road.

He said the construction of the Standard Gauge Railway shows the tremendous potential for mutually beneficial strategic cooperation between Kenya and China.

Chinese officials insist the initiative is purely commercial, but foreign diplomats and political analysts also see an effort by the Communist Beijing government to promote its ambitions of rewriting global rules on trade and security and to reduce the USA presence in Asia.

The Agenda seeks, among other things, to have a highly developed and interconnected continent by 2063, including railway, and initiatives such as the One Belt One Road are critical in ensuring that such targets are met.

China is contriving to build bridges, both literal and metaphorical, which are a great offering to the world and we have no doubt in saying that no conspiracy can deter its resolve to backtrack from its visionary initiative.

The Chinese President said the economic plan, which he first unveiled in 2013, was already taking shape with several projects underway, and was supported by more than 100 countries and worldwide organisations. It envisions two components: the Silk Road Economic Belt and the 21st Century Maritime Silk Road that are expected to cover more than 60 percent of the world's population and more than one-third of the global economic output. Chinese banks have set up 62 branches and offices in 26 countries along the BRI routes in the past four years, he said.

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