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posted by martyb on Tuesday May 16 2017, @09:08AM   Printer-friendly
from the teamwork++ dept.

China's President has pledged $124 billion for a new "Silk Road" connecting Asia, Africa, and Europe:

Chinese President Xi Jinping on Monday urged major multilateral institutions to join his new Belt and Road Initiative, stressing the importance of rejecting protectionism in seeking global economic growth.

Addressing other world leaders at a summit on the initiative in Beijing, Xi said it was necessary to coordinate policies with the development goals of institutions including the Asia-Pacific Economic Cooperation (APEC), ASEAN, African Union and the European Union.

Xi pledged $124 billion on Sunday for his new Silk Road which aims to bolster China's global leadership ambitions by expanding links between Asia, Africa, Europe and beyond, as U.S. President Donald Trump promotes "America First".

What is OBOR?

No one is totally sure. At the most basic level, One Belt, One Road (OBOR) is a collection of interlinking trade deals and infrastructure projects throughout Eurasia and the Pacific, but the definition of what exactly qualifies as an OBOR project or which countries are even involved in the initiative is incredibly fuzzy. "It means everything and it means nothing at the same time," said Christopher Balding, a professor of economics at Peking University. [...] According to Chinese state media, some $1 trillion has already been invested in OBOR, with another several trillion due to be invested over the next decade.

Fuzzier story at CNN. More at Wikipedia.

Related: China Plans World's Longest Tunnel
China to Spend $182 Billion on Network Infrastructure
China Invests $45 Billion in Megacity Project
China Finances and Builds $13 Billion Railway in Kenya
China Plans $503 Billion Investment in High-Speed Rail by 2020


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  • (Score: 0) by Anonymous Coward on Tuesday May 16 2017, @03:01PM (2 children)

    by Anonymous Coward on Tuesday May 16 2017, @03:01PM (#510547)

    You seem to be confusing nationalism and jingoism.

  • (Score: 1, Insightful) by Anonymous Coward on Tuesday May 16 2017, @05:24PM

    by Anonymous Coward on Tuesday May 16 2017, @05:24PM (#510607)

    A distinction without a difference

  • (Score: 0) by Anonymous Coward on Tuesday May 16 2017, @07:35PM

    by Anonymous Coward on Tuesday May 16 2017, @07:35PM (#510693)

    You seem to be confusing reason and ideology.