Jonathan Hillman joins Jane Nakano and Nikos Tsafos for the CSIS Energy and National Security Program's Energy 360° Podcast to look at the importance of energy projects in the BRI, changing expectations from BRI partners, and what defines a successful BRI.
Belt and Road recipients are pushing to re-negotiate loan terms with Chinese banks, potentially shifting more of the BRI's financial burden on Beijing. As China's investments grow in Belt and Road countries, it risks losing its bargaining power as its sunk costs rise, reports Nikkei.
Chinese President Xi Jinping met with Greek President Prokopios Pavlopoulos, calling on Greece to help promote the Belt and Road Initiative (BRI) in Europe. Beijing is seeking support for BRI from within the European Union as Europe's trade and investment relations with China expand, reports Nikkei.
Beijing is striking a conciliatory tone abroad to repair ties with Belt and Road partners, particularly in Southeast Asia where negotiations with Chinese companies over halted infrastructure projects are restarting, Nikkei reports.
The signing of an MoU during a March 22-24 by Chinese president Xi Jinping has made Italy the first G7 nation to join China's sprawling Belt and Road Initiative, but Rome will be wise to devote sustained long-term resources to the negotiation, implementation, and follow-up of whatever comes out of these memoranda to avoid the mistakes of other BRI partners.
The Asian Development Bank's President, Takehiko Nakao, has said the ADB is limiting the amount of funding it provides to China. Nakao noted that China is "becoming a country that can raise money by issuing its own debt" through projects such as the Belt and Road Initative, reports the Nikkei Asian Review
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.
This episode of the ChinaPower podcast discusses the Belt and Road Initiative's current projects and financing, including recent backlash and scrutiny from partner countries, as well as the approach the U.S. is taking toward the initiative in the lead-up to the second Belt and Road Forum.
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.
China’s hostile economic practices, military expansion, and coercive political and ideological tactics in Africa should not be ignored. However, establishing a clear distinction between detrimental and essential BRI engagement is crucial to fostering development, building common ground with China, and expanding the global market.
A Chinese state construction company is building Cambodia's first expressway which will connect Phnom Penh with the southern coastal city of Sihanoukville. China Road and Bridge Corp. will finance the nearly $2 billion project in an arrangement meant to help China avoid international accusations of predatory lending to developing countries, reports Nikkei.
China's Belt and Road (BRI) has taken a beating, but its central feature of big infrastructure projects will remain recognizable for years to come.
China announced on Saturday that two more non-Asian nations, Switzerland and Peru, have signed on to its Belt and Road Initiative. As Asian Belt and Road participants view with initiative with increasing skepticism, China is looking elsewhere for supportive partners, reports Nikkei.
Chinese President Xi Jinping pledged to reboot his country's flagship Belt and Road Initiative during the second Belt and Road Forum in Beijing. Xi called for "zero tolerance" of corruption and said China would ensure more transparency for the initiative, reports the Nikkei Asian Review.
Japan's Prime Minister Shinzo Abe and Italian PM Giuseppe Conte agreed to uphold Japan's four conditions for high-quality infrastructure during a bilateral summit in Rome. Italy recently signed on to China's Belt and Road Initiative, sparking concerns the country would fall prey to "debt-trap diplomacy," reports Nikkei.
Xi Jinping wants to repair the Belt and Road brand—as 37 world leaders gather in Beijing—but promises for reform will require further monitoring. CSIS’s Matthew Goodman and Jonathan Hillman go over some key questions ahead of China’s Second Belt and Road forum.
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.
On April 25, China will convene leaders from 37 countries for the second Belt and Road Forum in Beijing. Here is some of Reconnecting Asia's top analysis of China's Belt and Road Initiative ahead of the summit.
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.
Maldivian President Ibrahim Mohamed Solih's political party has won a super majority in the country's parliamentary elections. The president's party ran on an anti-corruption message that stressed the need to investigate Chinese-financed infrastructure projects that have dramatically increased the country's debt-burned, reports Nikkei.
Malaysia and China agreed on Friday to resume construction of the multi-billion dollar East Coast Rail Link project after months of negotiations that strained ties between the two trade partners. The two sides have agreed to cut the cost of the 688km rail project to $10.7 billion, reports the Nikkei Asian Review.
China Communications Construction Co. executives on Wednesday reiterated the infrastructure company has not given up on the multibillion-dollar East Coast Rail Link in Malaysia, on which development work has been suspended for months amid doubts over the project's financial viability, reports Nikkei.
Maldives President Ibrahim Mohamed Solih has gained support for his efforts to loosen the Maldives' economic bonds with China after his party won a wide majority in parliamentary elections over the weekend. President Solih has recommended a probe into China-led Belt and Road infrastructure projects negotiated under his predecessor due to corruption allegations, Nikkei reports.
China’s Global Energy Interconnection (GEI) initiative is an ambitious vision for transforming the global energy system that pairs a pitch for climate leadership with Beijing's industrial policy priorities. As China makes a play for green leadership in global energy governance, the U.S. needs to present a positive agenda of its own for the clean-energy transition.
Pakistan's prime minister, Imran Khan, visited southern Balochistan province last week following Balochistan's claims that the province was not getting a significant share of the Beijing-funded $62 billion China-Pakistan Economic Corridor. During his visit to Balochistan, Khan inaugurated several construction projects seen as crucial for the local economy, reports the Nikkei Asian Review.
Austrian Foreign Minister Karin Kneissl expressed concern over China's economic inroads in Europe that have now brought Italy, a G7 power, into the Belt and Road club. Kneissl said the rest of the European Union must recognize the risks and deal with Beijing's expansionist wallet diplomacy, reports the Nikkei Asian Review.
The European Union's recently adjusted China policy describes Beijing as a "systemic competitor." Yet from Greece to Italy, China's Belt & Road infrastructure investments, and the political influence these afford China, undermine efforts to build a European consensus on China, reports Nikkei.
China is pushing back against Turkey for criticizing its treatment of the minority Uighur Muslim population in Xinjiang province, using Beijing's economic influence through the Belt and Road Initiative (BRI) to stifle criticism, Nikkei reports. Turkey is a crucial link in China's BRI due to its proximity to Europe, the Middle East, and Africa.
China Communications Construction has signed an agreement to operate the northern Italian port of Trieste. Combined with Piraeus in Greece, Sines in Portugal and Valencia in Spain it could form a new Chinese-controlled logistics network capable of redesigning Europe's industrial chains, reports Nikkei.
Philippine President Rodrigo Duterte will visit Japan in late May to discuss infrastructure projects the Japanese government is supporting in the Philippines, including the country's first-ever subway line in Manila. Duterte has also recently confirmed through a spokesman that he will attend April's international Belt and Road conference in Beijing, reports the Nikkei Asian Review.
Xi Jinping arrived in Italy today to sign a memorandum of understanding for the Belt and Road Initiative (BRI), a development that has already drawn criticism from the U.S. Washington’s frustration is understandable, but it plays right into Beijing’s hand. Publicly criticizing Italy’s decision gives unwarranted weight to vague documents that, like the BRI itself, overpromise and underdeliver.
Pakistan has diverted around $171.6 million meant for joint infrastructure development projects under the China-Pakistan Economic Corridor, a flagship effort under China's Belt and Road Initiative (BRI), into other construction plans. This signals that Islamabad may be distancing itself from Beijing and the BRI, reports the Nikkei Asian Review.
Japan plans to propose new guidelines on development assistance, tentatively titled the "G-20 principles on quality infrastructure investment,” when it hosts the Group of 20 summit in June. The proposal, which will frame anti-corruption and fiscal sustainability as key principles of infrastructure investment, is seen as an attempt to check China’s Belt and Road Initiative, reports Nikkei.
To effectively leverage the infrastructure financing opportunities provided by the Belt & Road Initiative, countries must examine their own development strategies and build domestic skills and institutions, argues Ganeshan Wignaraja for the Nikkei Asian Review.
Italian Prime Minister Giuseppe Conte said Friday that he is open to signing a deal that would make Italy a member of China's Belt and Road Initiative. The move risks stirring up divisions with other European Union members distrustful of Beijing's expansionist bent, reports the Nikkei Asian Review.
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.
Italy is preparing to become the first of the G7 group of industrialized nations to endorse China’s Belt and Road Initiative, but what does this mean? James Kynge, the FT’s global China editor, looks at the main implications citing data collected by the Reconnecting Asia Project.
Geostrategic concerns must be carefully managed so that infrastructure remains a cooperative domain of regional politics. If governments make poor infrastructure choices, connectivity may divide rather than integrate the twenty-first century Indo-Pacific.
China convenes its top political advisory bodies, the Chinese People's Political Consultative Conference and the National People's Congress this, this week. Analysts expect the meetings will address rising political backlash against China's Belt and Road initiative, reports Nikkei.
Southeast Asia’s strategic importance for China, the United States, Japan, and others, and the advantages that will come with control over data flows, mean that the region’s decisions on digital infrastructure and internet governance will have implications that far transcend business outcomes.
Increasing criticism towards China's ambitious Belt and Road Initiative (BRI) coupled with China's economic squeeze has prompted Chinese skeptics of BRI to quietly ask if their government is putting its scarce resources to the right use. Although President Xi Jinping's BRI is still supported by leaders in Beijing, Xi's original ambitions are being rolled back out of public view, reports the Nikkei Asian Review.
Weeks after a meeting of government officials from Beijing and Islamabad, the environmental impact of China-led coal-fired power generation projects in Pakistan is still a hot topic of debate. Lack of disclosure on plans associated with $62 billion China Pakistan Economic Corridor, which forms a crucial part of Chinese President Xi Jinping's ambitious Belt and Road Initiative, is spurring local environmental concerns.
In 2015, Chinese president Xi Jinping debuted a plan at the UN to knit the world's energy grids, currently fragmented along national lines, into a single global network. In reality, Xi's ambitious plan far outstrips what can realistically be achieved in the coming decade given current economic, technical, and political constraints.
China's $2.5 billion offer to bailout Pakistan as its foreign exchange reserves dry up disappointed Islamabad, which reportedly sought $6 billion from Beijing. Pakistan's balance of payments crisis could threaten the $62 billion Beijing has invested in the China-Pakistan Economic Corridor, reports Nikkei.
David Malpass, U.S. President Donald Trump's nominee to lead the World Bank, told media sources on Wednesday that he hopes to cut the multilateral lender's loans to China, which he believes is too wealthy to receive large loans from the World Bank. Malpass also criticized China's Belt and Road infrastructure initiative, saying that the BRI "leaves countries with heavy burdens of debt," reports Nikkei.
The trial of Najib Razak, Malaysia's former prime minister, over corruption-related charges tied to the 1MDB development fund is scheduled to begin on February 12. The prosecution is expected to probe whether China-backed infrastructure projects signed by Najib's government were used to bail out 1MDB, reports Nikkei.
China is facing new challenges after billions of dollars have been invested into Asia through Belt and Road infrastructure projects. BRI funds have increasingly flowed into Asia, accounting for 39 percent of the project's total contract value from January 2014 to June 2018, outpacing funding for Africa, which has received 30 percent.
One of China's Belt and Road Initiative's biggest environmental impacts may be on the world’s water. Should BRI projects strain the world's water resources, the initiative may carry important, and perhaps negative, implications for global and local conflicts over shared water resources.
China's Digital Silk Road is ambitious and includes fiber optic cables, 5G networks, satellites, smart cities, and the devices that connect to these systems. On February 5th, the CSIS Reconnecting Asia Project hosted a discussion about these developments and their implications for U.S. economic and strategic interests.