european union belt and road initiative

China’s Belt and Road Initiative (BRI) is nothing if not vague. What countries are truly participating? The BRI became a brand that virtually any player could leverage to their own advantage, and there were even major infrastructure projects that had zero Chinese participation—such as Anaklia Port in Georgia—that were proudly proclaiming themselves to be Belt and Road. Over the first phase of the Belt and Road, we’ve also seen projects retroactively labeled BRI and we’ve seen projects start out waving the BRI flag just to see them yanked down and re-branded as “local” as soon as the tide of public sentiment turns against them. In my view this would not constitute a Belt and Road project.”. “For the Chinese side it's unclear why the West doesn’t understand what they are doing and from the Western side it's ‘this is nothing because it doesn't follow our procedures that we know about.’”. I have been featured in, interviewed by, or appeared on CNBC Squawk Box, CBC The Current, Forbes.com, VICE, NPR Morning Edition, and BBC World. Type above and press Enter to search. The Silk Road Economic Belt and EU-China Security Cooperation Illicit trafficking and the misuse of firearms in Europe The European Union non–proliferation policy We've developed a suite of premium Outlook features for people with advanced email and calendar needs. I'm a perpetually traveling writer and documentary filmmaker who focuses on New Silk Road development. Nowadays, for every project lumped into the BRI—just because it’s financed by a Chinese bank, or a Chinese contractor is providing the laborers, or a hack thought it sounds good—there must be a thousand confused people wondering what, exactly, is the Belt and Road Initiative.”. Opinions expressed by Forbes Contributors are their own. What projects are officially Belt and Road? © 2021 Forbes Media LLC. The United Kingdom withdrew from the European Union on 31 January 2020. The Belt and Road Initiative, reminiscent of the Silk Road, is a massive infrastructure project that would stretch from East Asia to Europe. This question is of ever greater concern with fast deteriorating biodiversity and an…, On January 13th was launch “The Little Book of Investing in Nature”, ten years after the introduction of “The Little Biodiversity Finance Book” at…, On January 10th, the State Council Information Office (the administrative office under the State Council) published the White Paper on “China’s International Development Cooperation…, The original article was published on Panda Paw Dragon Claw on 11th January, 2021 and has been updated on Jan 18, 2021. But in 2020, we still struggle to discern what the BRI is from what it isn’t. China’s overseas investment growth has been on a sharp decline over the past three years, with Moody’s claiming that this is due to an increased awareness of the risks inherent to major BRI projects. The idea of European sovereignty then emerged because of the tariffs on aluminium and steel imports imposed by the Trump administration on the EU and China, and the indirect impact on Europeans of new sanctions imposed on Iran in 2018 – which former Swedish prime minister Carl Bildt criticized as a ‘massive attack’ on European sovereignty. China Belt and Road Initiative (BRI) Investment Report 2020, Aurelie Chane-Yook and Christoph NEDOPIL WANG and Christoph NEDOPIL WANG, Aurelie Chane-Yook and Christoph NEDOPIL WANG, Sino-European Cooperation on Financing the 2060 Climate Goals, NEWS: Webinar on Climate Change and Sustainable Finance co-organized by UN Capital Development Fund (UNCDF) and the Singapore Fintech Festival (SFF), Asian Infrastructure Investment Bank (AIIB), Environment, Society and Governance (ESG), Industrial and Commercial Bank of China (ICBC). The Irish Sea lies northwest of England and the Celtic Sea to the southwest. China’s Belt and Road Initiative (BRI), a multi-billion-dollar infrastructure investment platform, has positive economic implications for developing countries and the United States, but is consistently overshadowed by political and national security concerns. Workers take down a Belt and Road Forum panel outside the venue of the forum in Beijing on April 27, ...[+] 2019. While Beijing boasts that the official list of Belt and Road participants is up to 137 countries and 30 major international organizations, in most cases the criteria for “signing up” is a vaguely worded, non-legally binding MOU. Perhaps more importantly, for the first time, the National Development and Reform Commission (NDRC) compiled an official list of participating BRI nations and approved projects. Expand your Outlook. He called for the building of a Silk Road Economic Belt and a 21st Century Maritime Silk Road, collectively referred to as One Belt, One Road (OBOR) but which has also come to be known as the Belt and Road Initiative. It is a center of the International Institute of Green Finance (IIGF) of the Central University of Finance and Economics (CUFE) in Beijing, China. GREG BAKER/AFP via Getty Images. Press Esc to cancel. I've been on the road since '99, reporting from over 90. KYIV- European Union sanctions against Russia over Moscow's treatment of Kremlin critic Alexei Navalny show the EU is united in its commitment to defending the bloc's values, European Council President Charles Michel said on Wednesday. Tales of corruption along the BRI have become common, the debt-trap diplomacy theory has put populations across Eurasia on guard, and the fact that dozens of major China-driven development projects across Asia have become white elephants have rendered the BRI an unattractive proposition in many markets. +86 10 6228 8768. The Belt and Road was announced in 2013 as an economic development initiative that would create new trade corridors across Asia, Europe and Africa, positioning China at the top of the geo-economic food chain, while providing mutual benefit to participants all the way down the line. I've been on the road since '99, reporting from over 90 countries. At the end of 2013 Chinese President Xi Jinping announced one of China’s most ambitious foreign policy and economic initiatives. As we previously covered on Forbes in 2017: This is an initiative for which there are no publicly-stated KPI, no overarching institutionalization, no formal membership protocols, no founding charters, and a timeline for development that is not measured in mere years, but decades—or even centuries. The lack of defining precisely what the Belt and Road is led to Beijing losing control of its own message. “I think the difference among policy makers is one of the biggest challenges of the Belt and Road,” said Moritz Rudolf, a China researcher, lawyer, and founder of Eurasia Bridges. Adding to China’s problems is its apparent willingness at times to persuade its partners to circumvent or flout international standards of doing business. Via Jens Bastian of the CSIS: “The lack of transparent bidding and procurement processes constitute a recurring obstacle to the participation of interested European companies.”. Some analysts see the project as a … “There’s been pushback,” said Jonathan Hillman of DC’s Center for Strategic and International Studies’ Reconnecting Asia project, “and much of it is due to China’s decision to keep the BRI opaque and its willingness to start projects quickly without doing as much risk mitigation.”. Last December, it finalized the UK-Singapore free trade agreement (FTA), which came into effect on January 1 this year and allows British companies to, among other things, take an active role in state-of-the-art public projects in the Southeast Asian city-state. NEWS: Youth Economic Forum Panel “The Green Development Agenda: A Green New Deal for Southeast Asia in the Post-COVID-19 Era?”, Interpretation of Guiding Opinions on Green and Low-Carbon Circular Development (State Council, February 2021), Economic Growth has a “devastating cost” for nature, according to Dasgupta review, PODCAST: The China in Africa Podcast invited the IIGF Green BRI Center to discuss whether the BRI indeed becomes more green, NEWS: Panel Discussion on Aligning Finance with Nature’s Needs, in China and Beyond, “The Little Book of Investing in Nature” published by Global Canopy gives guidance and tools to invest and protect nature in the BRI and beyond, Analysis and opinion on the White Paper on “China’s International Development Cooperation in the New Era”, Debt repayment issues in highly-indebted BRI countries: risks and opportunities in the new year, Countries of the Belt and Road Initiative (BRI), Investments in the Belt and Road Initiative (BRI), Belt and Road Initiative International Green Development Coalition (BRIGC), The Green Investment Principle (GIP) for the Belt and Road Initiative. The Union currently counts 27 EU countries. Is it a specific set of coordinated policy that’s exclusive to Beijing-led international endeavors? Beyond that vague rendering, the rest was left to conjecture, with a large degree of meaning lost between China’s struggles to explain the initiative and the West’s inability to comprehend it. The BRI was modular and it was flexible, and this versatility allowed the initiative to rack up dozens of major infrastructure deals all over the world worth hundreds of billions of dollars within a mere couple of years. You may opt-out by. Where do the corridors actually go? England is separated from continental Europe by the North Sea to the east and the English Channel to the south. The BRI was fully culturally, politically and economically amorphous: it could shape-shift to meet the form of whatever country it entered, blending smoothly into the existing economic and political landscape, serving whatever regime that welcomed it. “If I was deriving what a Belt and Road project is right now,” Rudolf said, “I would start with what the official side has called a pilot project through an official channel ... On the other side you have someone just calling it part of the Belt and Road initiative but you cannot trace it back to an original document. Hungary is bound to become the first European Union member to sign up for Chinese vaccines. Workers take down a Belt and Road Forum panel outside the venue of the forum in Beijing on April 27, ... [+] 2019. Worse yet, the numbers do indeed support some of the criticism. It was a spending spree of unprecedented proportions and it was all in the name of President Xi Jinping’s signature foreign policy initiative ... although lacking much, if any, oversight from the man in charge himself.

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