A milestone agreement on trade and economic cooperation signed in May 2018 represents an important step forward for the relationship between the Eurasian Economic Union (EEU) and China’s Belt and Road Initiative (BRI).
At risk of granting China valuable concessions to ease their debt burdens, Central Asian countries seek to bolster relations with China and secure a piece of the Belt and Road Initiative, according to the Nikkei Asian Review.
Most countries along the BRI have urgent infrastructure development needs and many are considered too high-risk for traditional investors, the result being that their governments have been highly receptive to Beijing’s offers of financing, building, and operating infrastructure projects.
The New Silk Road Project will travel 10,000 miles across China’s Economic Belt from London to Yiwu to investigate the people, projects, countries, and landscapes involved in China's Belt and Road Initiative.
China's regionwide infrastructure drive is proving to be a game changer in the grain trade.