BEIJING: China's landmark Belt and Road Initiative (BRI) has thousands of infrastructure projects in every corner of the globe, generating a staggering US$2 trillion in contracts while courting inter
People stand next to a signage at China National Convention Center ahead of the Third Belt and Road Forum in Beijing, China on Oct 16, 2023. has thousands of infrastructure projects in every corner of the globe, generating a staggering US$2 trillion in contracts while courting international controversy.Laos took on huge loans from China to partially finance a US$6 billion high-speed railway connecting it with the underdeveloped, landlocked nation.
Both sides have touted the project as a public good, with Beijing saying it"bears friendship, happiness and opportunities". The staunch allies have earmarked tens of billions of dollars for a range of transport and energy projects connecting western China with Pakistan's Gwadar Port.Belt and Road Initiative boosts China's clout overseas, but concerns like debt-trap diplomacy remain: ObserversThe former chairman of the port's Chinese state-owned operator in July called the site"a blank sheet of paper, and we can draw the most beautiful painting on it".
Beijing has said the base is used to resupply navy ships, support regional peacekeeping and humanitarian operations and crack down on piracy. Beijing's official Xinhua news agency said in August that"investments from China have breathed new life into a ... port that once hit development bottlenecks". The countries signed a series of commercial deals but they did little to staunch a yawning trade deficit or assuage concerns of Beijing's undue influence.
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