A US$20 billion pledge for Middle East-BRI development

Whole world to benefit from BRI vision
Whole world to benefit from BRI vision
Category : Latest News Source : The News Date : 02-04-2018
Speaking at a dinner hosted by President of English Speaking Union (ESU), Deputy Chairman of Planning Commission, Sartaj Aziz said that ‘China-Pakistan Economic Corridor (CPEC) is the flagship project of the Belt and Road Initiative. He stated that the project will not only benefit Pakistan but the whole world will be the beneficiary of the BRI Initiative. Pakistan has already started enjoying the instant positive impact of CPEC, particularly in the power and infrastructure sector, he added.
Islamabad : The Deputy Chairman of the Planning Commission, Sartaj Aziz, said that the ‘China Pakistan Economic Corridor (CPEC), connecting Gwadar with Kashgar is the ‘flagship project’ of the ‘One Belt One Road’ (OBOR) vision of the Chinese President Xi Jinping … for more, go to http://www.cpecinfo.com/news/whole-world-to-benefit-from-bri-vision/NTA2Mg== 

A US$20 billion loan pledge for Middle East-BRI development

KUALA LUMPUR (July 2018): Amid pro-US’ continuous spinning of negative news reports of China’s global financial and economic sustainability, President Xi Jinping today (July 10) pledged US$20 billion (RM80 billion) to help the Middle East market.

Unlike the US’ military and war-waging ways, China continues to “put your money where your mouth is”.

Xi’s pledge is aimed at consolidating China’s multi-trillion-dollar Belt Road Initiative (BRI) development that sees the Middle East as a key market player.

It also features China and BRI’s foreign policy plan for strong trade routes linking China with central and Southeast Asia.

If China’s global economy is losing steam, as reported by pro-US international media, can Xi and China make such a huge pledge for the Middle East and BRI?

Here’s the latest BRI new development by Reuters:

"China's Xi pledges $20 billion in loans to revive Middle East
Tuesday, 10 Jul 2018
2:55 PM

BEIJING (Reuters) - Chinese President Xi Jinping on Tuesday pledged a package of $20 billion (15.12 billion pounds) in loans, and about $106 million in financial aid, to Middle East nations, as part of what he called an "oil and gas plus" model to revive economic growth in the region.

Beijing has ramped up engagement in the Middle East in recent years as Arab nations play an important role in Xi's signature Belt and Road foreign policy plan for strong trade routes linking China with central and southeast Asia.

Development was key to resolving many security problems in the Middle East, Xi told a gathering with representatives of 21 Arab nations in the Chinese capital.

"We should treat each other frankly, not fear differences, not avoid problems, and have ample discussion on each aspect of foreign policy and development strategy," he said.

A consortium of banks from China and Arab nations, with a dedicated fund of $3 billion, will also be set up, he said.

It was unclear what the relationship between the bank consortium, financial aid and the overall loan package would be.

The loans will fund a plan of "economic reconstruction" and "industrial revival" that would include cooperation on oil and gas, nuclear and clean energy, Xi said.

He urged "relevant sides" to respect the international consensus in the Israel-Palestine dispute, and called for it to be handled in a just manner, so as to avoid regional disruption.

China, which traditionally played little role in the Middle East conflicts or diplomacy, despite its reliance on the region for energy supplies, has been trying to get more involved in resolving long-standing disputes.

China says it sticks to a policy of "non-interference" when offering financial aid and deals to developing countries, which, coupled with development, can help resolve political, religious and cultural tension.

It applies this pattern of economic support, as well as a strict security regime, to its restive western region of Xinjiang. But rights groups have criticised the approach, saying the clampdown has further stoked, not eased, tension between the Muslim Uighur minority and the ethnic Han majority.

(Reporting by Christian Shepherd; Editing by Clarence Fernandez)"

VCG | Getty Images
Hu Kaihong, a spokesman of State Council Information Office, shows China's new Arctic Policy at a news conference on January 26, 2018 in Beijing, China.
China: We are a 'Near-Arctic State' and we want a 'Polar Silk Road'
· China's new Arctic Policy was outlined by its first official white paper, released on Jan. 26.
· China, which self-identified as a "Near-Arctic State," sought to establish exactly how it believes the region should be governed and utilized.
· That's raised fears about a Chinese takeover of the region, but experts cautioned that a geopolitical standoff over the Arctic isn't necessarily coming.
Andrew Wong
Published 8:08 PM ET Wed, 14 Feb 2018 Updated 11:57 PM ET Wed, 14 Feb 2018CNBC.com
China announced its official Arctic policy to the world late last month, promoting Beijing's ambitions for the region and raising fears about a Chinese takeover of the polar zone. But while the world's second-largest economy, which self-identified as a "Near-Arctic State" in its new white paper, may have it's own economic and foreign policy interests in mind, experts cautioned that doesn't mean a geopolitical standoff is coming. Still, Beijing's new document does seek to establish exactly how it believes the region should be governed and utilized … for more, go to https://www.cnbc.com/2018/02/14/china-we-are-a-near-arctic-state-and-we-want-a-polar-silk-road.html