Thailand's prime minister, Prayuth Chan-ocha, signed a Memorandum of Cooperation with Laos and China to accelerate the construction of a much delayed high-speed rail line between northeast Thailand and Vientiane in Laos, reports Nikkei.
If China's push to build a massive, continent-spanning economic zone is to yield true benefits for all involved, Beijing must shift its policy course and embrace internationally accepted norms for the BRI, reports the Nikkei Asian Review.
Over the next 15 years, more hard infrastructure is projected to be built around the world than currently exists. As our infrastructure is transformed, so will be the economies it fuels, the regions it connects, and the global commons it underpins. These trends are too powerful and potentially beneficial for the United States to stop, and too consequential to ignore.
The Solomon Islands may elect a pro-China prime minister as its seeks infrastructure investments from China. The South Pacific nation does not want to be left behind as neighbors Papua New Guinea and Vanuatu benefit from their participation in the Belt and Road Initiative, reports Nikkei.
Japan's Prime Minister Shinzo Abe will visit Slovakia later this month, where he plans to offer Eastern European leaders Japanese-financed infrastructure investments. Abe is expected to raise concerns about China's so-called debt-trap diplomacy, presenting Japan's approach as an alternative to the Belt and Road Initiative, reports Nikkei.
As Singapore's population grows, the city-state's Urban Redevelopment Authority has announced a plan to expand its urban infrastructure underground. Singapore's geographic constraints demand creative thinking from its government about how to further build out its infrastructure, reports Nikkei.
China's Belt and Road Initiative is transforming Nepal's domestic infrastructure through new roads, hydropower projects, and other industrial projects. Nepal has accommodated Chinese political interests to keep Chinese investments and exports coming, reports Nikkei.
Myanmar's Aung San Suu Kyi, the de facto leader, convened a forum for foreign businesses in the impoverished Rakhine State, urging attendees to invest in infrastructure throughout the country's rural areas. With national elections in 2020, Suu Kyi has been touring outlying regions in Myanmar promising development initiatives to shore up support for her ruling party, reports Nikkei.
It is clear that China’s Belt and Road Initiative (BRI) carries important implications not only for the world’s water resources, but also for politics in BRI countries. One of the worst outcomes would be for it to exacerbate the growing number of local conflicts over shared, and often shrinking, water resources.
Japan plans to stop offering development aid to China after nearly 40 years, seeking instead to establish a framework for the two countries to cooperate as equal partners on infrastructure and other projects in developing countries.
A recently opened express railway between Hong Kong and mainland China has drastically cut travel times, but has experienced less demand in commuters and tourists as initially anticipated, reports the Nikkei Asian Review.
The leaders of Japan and five Southeast Asian countries agreed to adopt a new policy that pushes forward more than 150 projects in the Mekong region using official development assistance from Japan.
With the approval of Congress, the U.S. moves forward with a $60 billion investment fund to boost foreign development funding. According to the Nikkei Asian Review, this is an effort to counter China's expanding influence under the BRI.
The U.S. Senate passed legislation overhauling the way the federal government lends money for foreign development, creating a $60 billion agency intended largely to respond to China's growing influence, according to the Nikkei Asian Review.
Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe met at the Eastern Economic Forum in Vladivostok, Russia this week. Both leaders decided to further pursue collaboration on infrastructure projects during Abe’s visit to Beijing next month, the first bilateral visit by a Japanese Prime Minister to China since 2011.
Vietnam's Ministry of Investment and Planning issued a warning to its government about Chinese development assistance, citing concerns of high interest rates, project overruns, and a lack of local contribution to the projects.
Asia and the Pacific have made great strides in deveopment over the past 50 years, however much remains to be done. Issues such as poverty and vulnerability, rising inequality, climate change, growing environmental pressures, and large infrastructure deficits remain to be addressed while merging trends, such as technological advancements, urbanization, and changing demographics, present opportunities and challenges
AIIB president Jin Liqun announced his intent to create financial stability for the bank's 87 member countries and establish the AIIB as a multilateral development bank commensurate with the World Bank Group, Asian Development Bank, and European Bank for Reconstruction and Development.
China's Belt and Road strategy favors countries with low credit scores, according to Nikkei Asian Review's latest data analysis.
As Asia’s powers advance plans for a number of economic corridors to connect the continent, it is important to understand what exactly an economic corridor entails.
The Asian Infrastructure Investment Bank (AIIB) has approved $1.5 billion in loans to India for infrastructure-related projects in 2018, including energy, roads, and urban development projects.
China's Belt and Road initiative has enjoyed relatively rapid and wide support, particularly in Asia. However, its political future depends on implementation and delivering economic results. To sustain support, China should be looking for opportunities to broaden participation.
While Indonesian president Widodo has made some strides in infrastructure development, such as high-speed rail lines and regional airports, other major project delays have stunted the country's growth, Nikkei reports.
The Japanese government has compiled infrastructure development scheme proposals for Vladivostok ahead of Prime Minister Shinzo Abe's scheduled visit to Russia in May, Nikkei reports.
Cambodia and China signed 19 aid and investment pacts on Thursday including deals for several infrastructure projects.
Myanmar's rapid increase in trade is pushing the expansion of Thilawa port with the support from Japanese government.
At a meeting in Tokyo, the leaders of Myanmar and Japan agreed to further cooperation in the areas of urban development, transportation, and power infrastructure in Myanmar.
There has to be a balance between funding any project that a government politician thinks is a good project versus a very long drawn out review process that could take up to a decade. Somewhere in between, there is something that’s long-term economically valuable.
New plans to tap mineral wealth face old problems of violence, instability and corruption
Southeast Asian governments need to collect more taxes to sustain the region's infrastructure expansion, reports the OECD.
Massive China-led projects in Malaysia may benefit Malaysia less than advertised.
Vietnam signs the contract on Wednesday to develop a coal-fired power plant, the first time the country has turned to private companies to finance infrastructure.
Quotes and Quotas is a weekly digest of phrases and facts that help explain Asia’s infrastructure push.
Done right, Asia's massive infrastructure push could improve road safety, particularly for developing economies such as Kazakhstan.
For developing economies like Kazakhstan, Asia’s infrastructure push offers opportunities to improve road safety.
Asian Development Bank President Takehiko Nakao discusses infrastructure investment's impact on inclusive and sustainable economic growth in Asia at the 2017 Global Development Forum.
Quotes and Quotas is a weekly digest of phrases and facts that help explain Asia’s infrastructure push.
The challenge today for multilateral development banks is not how to mobilize excess savings but how to catalyze abundant capital for development.
The Asian Development Bank will sign and Agreement with Myanmar to become a strategic and operational adviser for the countries entire transportation sector.
The China-led Asian Infrastructure Investment Bank surpassed its lending target of $1.2 billion in its first year, according to Nikkei Asian Review.
With the “Belt and Road” initiative, the fast establishment of the Asian Infrastructure Investment Bank, the construction of ports and railways in Africa and elsewhere, and by pushing green energy, China is demonstrating what has been lost in the West in recent times.
Is the “City of Gold” a miracle or a model for development?
The China example shows that it will be important for other countries to invest not only in high-quality infrastructure, but to also dedicate sufficient thought in how best to plan and deliver these projects to stay within cost and time budgets.
By 2030, two-thirds of the world’s middle class will reside in Asia. The middle class will demand quality infrastructure that meets their needs, without corruption or waste.
Unless China shifts to fewer and higher-quality infrastructure investments, the country is headed for an economic crisis, which is likely to spread to the international economy.