China's new Silk Road, explained for American children

Javier Howell
May 11, 2017

Nepal today chose to become part of the Chinese initiative 'One belt, One Road, which aims to enhance the traditional trade routes from China through India, Central Asia and Europe.

"The Belt connects the land, the Road moves on the sea", explains a ukulele-toting teenager as an animated train and ship cruise past her. Montages of the pyramids of Egypt, the onion domes you might see in Russian Federation, and other worldwide landmarks fly by her fellow performers, who sing about the breaking of barriers and the making of history over a simple yet well-produced three-chord accompaniment.

The OBOR Summit is being held in China on May 14 and 15.

China's trade value with countries and regions along the trading routes reached more than 20 trillion yuan ($2.9 trillion) between 2014 and 2016.

The countries upgraded their relationship to a strategic partnership a year ago, when Xi became the first Chinese president to visit the Czech Republic.

"Western sceptics have failed to see the fact that the Chinese don't harbor a zero-sum mentality, but encourage win-win thinking", Xinhua news agency said in an English-language commentary.

Martusciello was of the opinion that through the OBOR, not only would China acquire companies in Europe, it would also try and impose Chinese regulations, standards and gradually increase its influence over countries in the region, making their economic growth dependent on China. He will be among the 28 heads of state and governments to take part in the visit. China-lover Raffarin was chosen to participate in the high-level Forum, because France will be inaugurating its new President, Emmanuel Macron, that weekend.

A Nepalese Cabinet meeting this afternoon chose to sign a framework agreement ahead of the OBOR conference slated to be held in Beijing on May 14-15, said a report in the Kathmandu Post. Construction of the road between Gwadar and Saindak will be the shortest route between Central Asia and the sea and the port at Gwadar offers Afghanistan and the Central Asian Republics access to the sea, particularly for their oil and gas industries.

"I believe that the national strategy is the top priority; economic considerations are secondary", said an economist at the China Centre for International Economic Exchanges, a Beijing-based think-tank which made initial proposals to set up the AIIB.

OBOR spans some 65 countries representing 60 percent of the global population and around a third of global GDP. He said that as an organizer and host of the forum, China will warmly welcome all the guests from around the world including Pakistan.

Other reports by Insurance News

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