Published: Thu, May 18, 2017
Global News | By Stacy Ballard

Chinese media warn India over Belt and Road project

Chinese media warn India over Belt and Road project

The European Investment Bank has financed projects in China since 1995 and past year the European Investment Bank Group provided Euro 84 billion to finance new investment around the world, including Euro 19.6 billion for climate related investment.

"Under the current worldwide framework, the USA is leading global organizations like the United Nations, the World Bank, and the global Monetary Fund", read a commentary (link in Chinese) in Xiakedao, a WeChat account run by the People's Daily.

The initiative aims to bolster China's global leadership ambitions by building infrastructure and trade links between Asia, Africa, Europe and beyond.

It's open to all countries, not just those physically on the ancient trade routes.

Mr Xi, seated next to Russian President Vladimir Putin, was speaking at a convention centre in northern Beijing on the summit's second and final day.

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Venezuela's President Maduro calls the protesters "terrorists" and insists the demonstrations are a cover for a coup plot by the US.

Australia is yet to sign up for the initiative unlike New Zealand and 67 other nations.

The ambitious Belt and Road initiative will allow China to boost trades and stimulate economic growth across Asia and ahead.

"We very much welcome global partners and direct foreign investment to get the job done", he told AAP from Hong Kong during his four day visit to China.

Countries like India and the U.S. are sceptical of the project and view it as a geostrategic design.

The Havelian land port will serve as a transfer station where goods shipped from China can be loaded from trucks to trains after the planned China-Pakistan railway connecting Gwadar Port and Kashgar gets completed, Mahmood said.

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He chose to use Twitter to announce the decision, saying he will continue to carry out his duties as Taoiseach in full. Ms Fitzgerald said Mr Kenny's "work on behalf of the country and our party has been vast and extraordinary".

He later announced that the two-day summit reached "broad consensus" on the project and that China will host a new forum in 2019.

Xi said so far, the initiative had won support from 130 countries and 70 global organisations. "While India cares about its neighbours' debt burden, the neighbours appear willing to take on more", it said.

Also yesterday, the Philippine defense minister, who was at the Beijing meeting, said he signed a letter of intent with a Chinese military contractor to purchase weapons for Manila's army, navy and air force. The China-Pakistan Economic Corridor is an initiative on economic cooperation.

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".

China says the project is open to everyone, but it has also identified 65 countries along the Belt and Road that, since the early stages of the proposal, it has insisted will participate in the initiative.

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Jean-Francois Blais, who lives in central Quebec and had also been affected by the floods, called for more government help. Canada's national capital region has also seen severe flooding, with high water levels in the Ottawa and Rideau rivers.

"And ultimately how much political sovereignty is sacrificed, and what is the risk to completion of projects in the event of a disorderly slowdown in the domestic Chinese economy", said the USA investment firm specializing in frontier and illiquid markets.

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