Xi's Belt-Road Initiative: Recalibration, Strategic Imperatives

Description: 

"The second Belt-Road Forum (BRF) was held in Beijing from 25-27 April 2019. The three-day event was organized to promote the ‘Belt-Road Initiative’ (BRI) - President Xi Jinping’s multi-trillion-dollar infrastructure development and investment venture. The Summit was attended by 40 global leaders, including Russian President Vladimir Putin and Pakistan’s Prime Minister Imran Khan, China’s two closest allies. The gathering was larger than the first Summit held in 2017, which had just 29 participants. Among the new entrants were Austria, Portugal, the United Arab Emirates, Singapore and Thailand. Italian Prime Minister Giuseppe Conte became the first G7 leader to join the BRI. India stayed out for the second time on grounds of sovereignty given that the China Pakistan Economic Corridor (CPEC) traverses through Pakistan-occupied Jammu and Kashmir (PoJK). BRI has come under fire due to lack of transparency, weak institutional mechanism, scepticism about Chinese loans leading to debt trap, and poor environmental record. Besides, it is being perceived as an exclusive ‘Chinese Club’. With new deals aggregating US$ 64 billion signed and 283 concrete deliverable outcomes, despite criticism particularly from the US and its allies, the grand plan apparently remains on track and is gaining international traction. With a view to dispel growing concerns, the focus of this second Forum was on projecting BRI as an attractive investment destination. President Xi staunchly defended the Belt-Road, assuring its ‘win-win’ outcome..."

Creator/author: 

G.G. Dwivedi

Source/publisher: 

"Institute for Defence Studies and Analyses (IDSA)" (New Delhi)

Date of Publication: 

2019-05-22

Date of entry: 

2019-12-09

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar, China, India

Geographic coverage: 

Global

Language: 

English

Resource Type: 

text

Text quality: 

    • Good