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Belt and Road Initiative (Significance for China (makes China-important…
Belt and Road Initiative
What
Chinese foreign policy initiative
launched in 2013
objectives
trade, investment & infra network
link
Asia
Europe
Africa
Significance for China
makes China-important maritime power
South China Sea
Indian Ocean
Promotes
AIIB
Development of Western Provinces:
Energy route
Market
Boost to domestic infrastructure industry
win against Trading norms and regimes
Challenges
Institutional Challenges
Commercial viability
Political instability in countries along BRI
Regional Disparity and Ethnic Tensions
Cooperation from neighbouring countries
Issues with transparency
tenders
deals
ecological and environmental consequences
Why India oppose?
China-Pakistan Economic Corridor (CPEC)
Transparency issues
Unilateral Decision
China’s expanding presence = concerns
neighbouring countries
Indian Ocean
Why India should join?
Direct access
Afg
C.Asia
Economic benefits
curb security threats
Gilgit-baltistan
normalize India-Pakistan ties
= remove obstacles
IPI pipepine
TAPI pipeline
Improve Indo-China tie
isolation of India
most countries joined
economic integration
= geopolitical issues solved
Way forward
manage debt stress
23 countries along BRI
BRI countries
regional cooperation
political stability