belt and road initiative ias parliament

[78][79] At the same time, logistics and shipping companies invest in their technology and locations in order to benefit from ongoing developments. Some commentators have criticized India for not joining BRI: But diplomats based in India have counter-argued that: Geo-Political Challenges Posed by BRI to India: But no matter what the experts say, BRI definitely poses two geopolitical challenges: Your email address will not be published. [98] Infrastructure projects include ports, railways, highways, power stations, aviation and telecommunications. [120] Scholarly review has suggested that there is little evidence for China engaging in debt trap diplomacy. [46], The primary goals of AIIB are to address the expanding infrastructure needs across Asia, enhance regional integration, promote economic development and improve public access to social services. These are the belts in the name, and there is also a maritime silk road. (No. [90], In addition to the Maritime Silk Road, Russia and China are reported to have agreed to jointly build an 'Ice Silk Road' along the Northern Sea Route in the Arctic, along a maritime route which Russia considers part of its territorial waters. [121] However, studies of economic experts[which?] "Understanding China’s ‘Belt and Road Initiative’: beyond ‘grand strategy’ to a state transformation analysis.". ", Shah, Abdur Rehman. Purpose. Apache/2.4.18 (Ubuntu) Server at www.iasparliament.com Port 80 In 2013, China launched its 'One Belt, One Road' (OBOR) initiative. ... ... 6, Ground floor, Near Salwan School Gate No 2, Old Rajinder Nagar, New Delhi, Delhi 110060 During the Qingdao summit (2018) of Shanghai Cooperation Organisation (SCO), India was the only member state to not endorse the China’s Belt and Road Initiative (BRI). It brings together the environmental expertise of all partners to ensure that the Belt and Road brings long-term green and sustainable development to all concerned countries in support of the 2030 Agenda for Sustainable Development.[108][109][110]. "[9] The project has a target completion date of 2049,[10] which will coincide with the centennial anniversary of the People's Republic of China's founding. [20] Already, some estimates list the Belt and Road Initiative as one of the largest infrastructure and investment projects in history, covering more than 68 countries, including 65% of the world's population and 40% of the global gross domestic product as of 2017. Lai, Karen P.Y., Shaun Lin and James D. Sidaway. "Reordering China, respacing the world: Belt and Road Initiative (一带一路) as an emergent geopolitical culture. China will be the single largest stakeholder, holding 26.63% of voting rights. [132][133] Home Affairs minister Peter Dutton described BRI as "a propaganda initiative from China" that brings an "enormous amount of foreign interference" and "Victoria needs to explain why it is the only state in the country that has entered into this agreement". "[17] The Belt and Road Initiative addresses an "infrastructure gap" and thus has the potential to accelerate economic growth across the Asia Pacific, Africa and Central and Eastern Europe. The initiative was given intensive coverage by Chinese state media, and by 2016 had become often featured in the People's Daily. [105] BRI coal projects accounted for as much as 42% of China's overseas investment in 2018,[106] and 93% of energy BRI investments go to fossil fuels. [53] Infrastructure corridors spanning some 60 countries, primarily in Asia and Europe but also including Oceania and East Africa, will cost an estimated US$4–8 trillion. As of 2015, China announced that over one trillion yuan (US$160 billion) of infrastructure related projects were in planning or construction. ", He, Baogang. [4] Critics use the term debt trap diplomacy to claim China intentionally extends excessive credit to a debtor country with the alleged intention of extracting economic or political concessions from the debtor country when it becomes unable to honor its debt obligations (often asset-based lending, with assets including infrastructure). [26][27][28][29], As a result, Poland, the Baltic States, Northern Europe and Central Europe are also connected to the maritime silk road and logistically linked to East Africa, India and China via the Adriatic ports and Piraeus. Marcus Hernig: Die Renaissance der Seidenstraße (2018). According to China, simply waiving debtors’ obligations as some countries or organizations have called is not going to be effective as a solution. [89] There are also further contacts between Hamburg, Bremen and Trieste with regard to cooperation. [19], The initial focus has been infrastructure investment, education, construction materials, railway and highway, automobile, real estate, power grid, and iron and steel. The objectives of the OBOR are as follows: 1. Cosco investiert wieder in große MPP-Flotte. hǎishàng sīchóu zhī lù, si-tiû-chi-lo͘ keng-chè-tài hô jī-si̍p-it sè-kí hái-siōng si-tiû-chi-lo͘, Asian Infrastructure Investment Bank (AIIB), Accusations of neocolonialism and debt-trap. Concrete projects (as well as their financing), which are to ensure the connection of the Mediterranean ports with the European hinterland, are decided among others at the annual China-Central-East-Europe summit, which was launched in 2012. [4] The Chinese government calls the initiative "a bid to enhance regional connectivity and embrace a brighter future. ", "What One Belt One Road means for Bangladesh", "The Geo-Economic Challenge of China's Belt and Road Initiative", "BRI Instead of OBOR – China Edits the English Name of its Most Ambitious International Project", "Australia rejects China push on Silk Road strategy", "China's Global Dreams Give Its Neighbors Nightmares", "China and Russia Want to Control the 'World Island, "Mapping the footprint of Belt and Road influence operations", "Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road", "AIIB Turns 3, Reflects on Startup Growth – News – AIIB", "Commentary: Silk Road Fund's 1st investment makes China's words into practice", Fitch warns on expected returns from One Belt, One Road, "Trade and trade facilitation along the Belt and Road Initiative corridors", "China to step up Russian debt financing", "Vision and Actions on Jointly Building Belt and Road", "CPEC investment pushed from $55b to $62b – The Express Tribune", "China's Xi in Pakistan to cement huge infrastructure projects, submarine sales", "With a new Chinese loan, CPEC is now worth $57bn", "Economic corridor: Chinese official sets record straight", "CPEC takes a step forward as violence surges in Balochistan", "Xi Jinping Calls For Regional Cooperation Via New Silk Road", "Integrating #Kazakhstan Nurly Zhol, China's Silk Road economic belt will benefit all, officials say", "Sri Lanka Supports China's Initiative of a 21st Century Maritime Silk Route", "China Pushes 'Maritime Silk Road' in South, Southeast Asia", "Reflections on Maritime Partnership: Building the 21st Century Maritime Silk Road", "Xi in call for building of new 'maritime silk road, Italy wants to invest in a faster train connection from Trieste to Venice. In contrast to the longer East Asia traffic via northwest Europe, the south-facing sea route through the Suez Canal towards the Trieste bridgehead shortens the transport of goods by at least four days. It is also one of the largest investors in the project. Accordingly, the port's annual handling capacity will be increased from 10,000 to 25,000 trains in Trieste (Trihub project) and a reciprocal platform to promote and handle trade between Europe and China will be created. [117], Government officials in India have repeatedly objected to China's Belt and Road Initiative, specifically because they believe the "China–Pakistan Economic Corridor" (CPEC) project ignores New Delhi's essential concerns on sovereignty and territorial integrity. • The project intends to link Asia with Europe and Africa through an overland “belt” and a maritime silk “road”. In Nairobi, China is funding the construction of the tallest building in Africa, the Pinnacle Towers. Bernhard Simon: Die natürlichen Grenzen der Neuen Seidenstraße. In News- Recently, China hinted at a shift in pursuing its signature Belt and Road Initiative (BRI) amid growing concerns about debt repayments from many partner countries due to COVID-19 pandemic. China, Russia to build ‘Ice Silk Road’ along Northern Sea Route, "Cold Ambition: The New Geopolitical Faultline", "The XVI International conference "Development of a Shelf Russian Federation and CIS-2019" will open on May 17, 2019 in Moscow", "Russia and China started global infrastructure project Ice Silk Road", "China plans super-grid for clean power in Asia", "China's Ambitious Plan to Build the World's Biggest Supergrid", "China drops BCIM from BRI projects' list", "B&R interconnection witnesses great breakthroughs in 5-year development-Belt and Road Portal", "China's BRI negatively impacting the environment", "China's Belt and Road Initiative Could Drive Warming to 2.7 Degrees", "As Beijing Joins Climate Fight, Chinese Companies Build Coal Plants", "Belt and Road forum: China's 'project of the century' hits tough times", "Moving the Green Belt and Road Initiative: From Words to Actions", "The Belt and Road Initiative International Green Development Coalition", "China's Belt and Road urged to take green route", "China notes Africa's key BRI role ahead of forum in Beijing", "Is Italy playing with fire when it comes to China? XUZHOU, China, March 2, 2021 /PRNewswire/ — Leading construction machinery manufacturer XCMG (000425.SZ) has sailed off more than 400 units of construction machinery equipment on February 18 from China, which will be arriving in countries of the Belt and Road Initiative (BRI) including Southeast Asian countries and Russia shortly. [58] Since the second Belt and Road Forum in 2019, BCIM has been dropped from the list of projects due to India's refusal to participate in the Belt and Road Initiative. Belt and Road Initiative has raised concerns in Indian policy circles, as New Delhi seeks to secure its influence in a region where China’s presence is growing. [128], South Korea has tried to develop the "Eurasia Initiative" (EAI) as its own vision for an east–west connection. It is described as pro–Belt and Road Initiative and pro-China. Facilitate cultural exchange and integration 3. The project consists of two main components: The Silk Road Fund would invest in businesses rather than lend money to the projects. Frankfurt am Main 2017, S. 59; Chinesen wollen verstärkt im Hafen Triest investieren, In: Kleine Zeitung 16 May 2017; Marco Kauffmann Bossart: Chinas Seidenstrasse-Initiative bringt Griechenland Investitionen und Jobs. The reasons are primarily due to the cost of container transport. [35][36] However, "One Belt One Road" is still the reference term in Chinese-language media.[37]. What is the issue? The Belt and Road Initiative, also known as the One Belt, One Road (OBOR) project was launched by the Chinese President Xi Jinping in 2013. The wind power resources of central Asia would form one component of this grid. [113], In April 2019 and during the second Arab Forum on Reform and Development, China engaged in an array of partnerships called "Build the Belt and Road, Share Development and Prosperity" with 18 Arab countries. 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[73][74], As part of its Silk Road strategy, China is participating in large areas of Africa in the construction and operation of train routes, roads, airports and industry. Many of the countries in this belt are also members of the China-led Asian Infrastructure Investment Bank (AIIB). Recently, China hinted at a shift in pursuing its signature Belt and Road Initiative (BRI) amid growing concerns about debt repayments from many partner countries due to COVID-19 pandemic. [91][92], China COSCO Shipping Corp. has completed several trial trips on Arctic shipping routes, and Chinese and Russian companies are cooperating on oil and gas exploration in the area and to advance comprehensive collaboration on infrastructure construction, tourism and scientific expeditions. Enhance mutual understanding and trust of member nations that will foster an innovative environment with capital inflows, talent pool and technology database. The land-based “Silk Road Economic Belt” (SREB) which consists of six land condors The Belt and Road Initiative is believed by some analysts to be a way to extend Chinese economic and political influence. The general stand of African countries sees BRI as a tremendous opportunity for independence from foreign aid and influence. Warenverkehr der Seidenstraße läuft übers Meer, Thomas Fischer: Viele europäische Länder fürchten Chinas Einfluss. "The political economy of a rising China in Southeast Asia: Malaysia’s response to the Belt and Road Initiative.". Wolf D. Hartmann, Wolfgang Maennig, Run Wang: Chinas neue Seidenstraße. It is a development strategy to connect China with Central Asia, Europe, and Indo-Pacific littoral countries. Brautigam, D. (2020). [11][12] In response the United States, Japan and Australia had formed a counter initiative, the Blue Dot Network in 2019. This applies, for example, to the expansion of the Belgrade-Budapest railway line, the construction of the high-speed train between Milan, Venice and Trieste[84] and connections on the Adriatic-Baltic and Adriatic-North Sea axis. [135] BRI educational component implies mutual recognition of qualifications, academic mobility and student exchanges, coordination on education policy, life-long learning, and development of joint study programmes. HKUST Institute for Emerging Market Studies, 2019), Scissors, Derek. US officials have articulated the strategy as having three pillars – security, economics, and governance. [86], From 2025, the Brenner Base Tunnel will also link the upper Adriatic with southern Germany. The strategy will integrate China with Central Asia through Kazakhstan's Nurly Zhol infrastructure program.[67]. [45] The BRI is considered a strategic element within the foreign policy of the People's Republic of China, and was incorporated into its constitution in 2017. ", Jones, Lee, and Jinghan Zeng. [136][137] To this end, Xi Jinping announced plan to allocate funds for additional 30000 scholarships for SCO citizens and 10000 scholarships for the students and teachers along the Road. The partner countries will benefit as this will lead to an inflow of billions of dollars in loans for projects. [138], The University Alliance of the Silk Road centered at Xi'an Jiaotong University aims to support the Belt and Road initiative with research and engineering, and to foster understanding and academic exchange. China’s trade war with the US, mounting criticism of its BRI, and growing division in its Political Bureau on handling these issues. [123][124], Tanzanian President John Magufuli said the loan agreements of BRI projects in his country were "exploitative and awkward. [141][142], Development strategy and framework, proposed by China, This article is about Chinese infrastructure projects in Asia, Europe, and Africa. The Karot Hydropower Project, 50 km (31 mi) from Islamabad, Pakistan is the first project. The Sanxia Construction Corporation commenced work in January 2016. The Philippines has adjusted its policy in favor of Chinese claims in the South China Sea under Philippines President Rodrigo Roa Duterte who expects support of his plans for massive infrastructure expansion. [23] Development of the Renminbi as a currency of international transactions, development of the infrastructures of Asian countries, strengthening diplomatic relations whilst reducing dependency on the US and creating new markets for Chinese products, exporting surplus industrial capacity, and integrating commodities-rich countries more closely into the Chinese economy are all objectives of the BRI.[24]. transport via the North Sea ports to Europe) is not necessarily the one that will remain dominant in the medium term. 8800338066/8800776445. [4] In particular, the African continent owes an estimated $145 billion, much of which involves BRI projects, with $8bn falling due in 2020. In March 2019, the China Communications Construction Company (CCCC) signed agreements to promote the ports of Trieste and Genoa. These tensions surfaced in recent negotiations with Brussels that led to a Therefore, in the Mediterranean area, where the economic zone of the blue banana meets functioning railroad connections and deep-water ports, there are significant growth zones. Prime Minister Scott Morrison has new powers to veto or scrap agreements that state governments reach with foreign powers under laws that could stymie China’s Belt and Road Initiative in … 2. Triest – Ein Welthafen für Bayern, In: Bayrische Staatszeitung 30 November 2018; Marcus Hernig: Die Renaissance der Seidenstraße (2018), p 112; Bruno Macaes: China’s Italian advance threatens EU unity. Why BRI was formed? Cheung FM and Hong Y-Y (eds), Chen, Yaowen, et al. Kohli, Harinder S., Johannes F. Linn, and Leo M. Zucker, eds. The land route of the Silk Road also appears to remain a niche project in terms of transport volume in the future. '[8] It is a complementary initiative aimed at investing and fostering collaboration in Southeast Asia, Oceania and Africa through several contiguous bodies of water: the South China Sea, the South Pacific Ocean, and the wider Indian Ocean area. The BRI is a giant connectivity initiative by China to revive the ancient Silk Road across Eurasia and Africa. [8] According to Chellaney, this is "clearly part of China's geostrategic vision". Area Development and Policy, 5(1), 1–14. Vision IAS Current Affairs is Providing One Road One Belt Initiative Pdf For UPSC Exam. [21][22] The project builds on the old trade routes that once connected China to the west, Marco Polo and Ibn Battuta's routes in the north and the maritime expedition routes of Ming dynasty admiral Zheng He in the south. Note: This text formed the basis for remarks delivered by James Laurenceson at the 2nd Belt and Road Forum in Beijing, April 25 2019. In several countries such as Zambia, Ethiopia and Ghana, dams have been built with Chinese help. [87] Furthermore, the Hamburg port logistics group HHLA invested in the logistics platform of the port of Trieste (PLT) in September 2020. [114], Greece, Croatia and 14 other Eastern European countries are already dealing with China within the framework of the BRI. Andreas Eckert: "Mit Mao nach Daressalam", Zacharias Zacharakis: Chinas Anker in Europa. [47], The Articles of Agreement (the legal framework) of the Asian Infrastructure Investment Bank (AIIB) were signed in Beijing on 29 June 2015. [citation needed]. "China's 'Debt Diplomacy' Is a Misnomer. Even countries such as the U.S. and Japan, which are not a part of the BRI but sent official delegations. This also includes a state Hungarian investment of 100 million euros for a 32 hectare logistics center and funding from the European Union of 45 million euros in 2020 for the development of the railway system in the port city. India should also improve our access to Europe by expediting projects like INSTC and others. The Chinese leadership was compelled to review the Belt and Road Initiative (BRI) because of the following reasons.

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