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China's Belt and Road initiative: A new way for global development

China's Belt and Road initiative: A new way for global development

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

Leaders attending the roundtable on Monday also issued a joint communique, in which they stated a "shared commitment to building an open economy, ensuring free and inclusive trade (and) opposing all forms of protectionism in the framework of the Belt and Road Initiative".

Speaking before an audience that included Russian President Vladimir Putin, Xi said his government has "no desire to impose our will on others".

Xi said the Asian Infrastructure Investment Bank had provided US$1.7 billion of loans for nine projects that were part of the plan, while the Silk Road Fund had invested $4 billion, the wire service said.

Almost 30 world leaders are taking part in the global summit on China's Silk Road plan, a huge infrastructure project which Beijing hopes will revive ancient trade routes from Asia to Europe and Africa.

Xi made the remarks when meeting with Italian Prime Minister Paolo Gentiloni after the two-day Belt and Road Forum for International Cooperation ended on Monday in Beijing.

Real Madrid a point from title after Celta Vigo win
He said: "We have to take it one day at a time . he is trained using the indoor facilities, but every day he gets better". Dermot Corrigan is a Madrid-based football writer who covers La Liga and the Spain national team for ESPN FC.

CHINESE President Xi Jinping on Tuesday suggested aligning the Belt and Road Initiative with the European Investment Plan in order to inject new momentum into China-EU ties. Global Times editorial argues that Indian nationalism and negative views about China-Pakistan cooperation could act as a destructive power for regional peace.

About the BRF which concluded yesterday, Hua said it built consensus, pointed direction for global cooperation, chartered course and identified action plans "It was a successful, productive and fruitful event", she said. Some 64 nations in Asia, Africa and Europe, with a variety of political systems and at various stages of development, sit along the trade routes Beijing has planned.

The next Belt and Road summit will be held in 2019, he said. In his opening address, president Xi Jinping said the initiative aims to promote economic interdependence, inclusiveness and win-win cooperation.

The Belt and Road initiative is China's most ambitious foreign policy project, a multibillion-dollar infrastructure venture that is aimed to make China a leader in the new ear of trade and development.

Aziz also praised the Chinese leadership for proposing the BRI.

The US economy will also benefit from OBOR, suggested Chinese state media.


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