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Xi Jinping’s third term: After a decade of building the Belt

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geemong

  • Posty: 78
  • Dołączył(a): 18 lut 2022, o 09:55

Xi Jinping’s third term: After a decade of building the Belt

Post14 paź 2022, o 08:26

Xi Jinping’s third term: After a decade of building the Belt and Road, where does China go from here?


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On Sep 2, two trains for Indonesia's high-speed rail were offloaded at a Jakarta port, marking China’s first export of bullet trains.

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Over in Malaysia, the 640km East Coast Rail Link (ECRL) that stretches across the peninsula is 30 per cent constructed as of May, and on track for the early 2027 completion target.

Up north, the Bangkok-Nong Khai high-speed railway, which links the Thai capital to the Lao border at Nong Khai, is expected to be operational by 2028.

One by one, these pieces are falling into place to potentially form a land corridor. When connected with ports and flanked by infrastructure projects, they will form a massive puzzle known as the Belt and Road Initiative (BRI).

First proposed by Chinese President Xi Jinping in 2013 - just a year after he rose to the country’s top post - the BRI comprises an overland trade route spanning China, Central Asia and Europe, as well as a seafaring corridor through Southeast Asia to the Middle East and Africa.

Subsequently, 147 countries signed cooperation memorandums of understanding with China on the ambitious plan. According to financial data company Refiniti, there were 3,220 BRI projects with a combined value of US$3.49 trillion in 2021.

While the BRI has significant strategic implications for China’s growth and global influence, there have been controversies and economic challenges for the countries involved.

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