China's New Silk Road I
Controversy
Associated countries
True intentions
Trade War
Tourism
Coronavirus
Investment
Piraeus Port
Power
Trieste Port
Motives
Threat accusations
Problem solver
Superiority
People believe that China has hidden dark motives with the creation of the new silk road.
One of most vocal critics of this project is Narendra Modi, India's Prime Minister. He declares that the 46 billion China-Pakistan Economic Corridor threatens to stew debt and broken communities in its wake.
People felt security when China brought solutions to their social and economic problems. This allowed China to show that they are mighty and well prepared.
China is not just an economic power but a political one too. Plus, they have overtaken most of the other countries in multiple areas of technology.
Relevant
Collateral damage
Prime focus
Retention
Purpose
Improvement
China became the mayor shareholder of Piraeus in 2016. They turned it into the biggest port in the Mediterranean and Black Sea.
When the Chinese company COSCO took over the port and privatised it, many dock workers lost their job, which obligated each one of the rest of them to do the work of two men.
When the Silk Road agreement was signed in the year 2019, the Italian port of Trieste was the center of attention, since northern Italy was meant to become a major transshipment centre for Chinese exports.
Although Italians are willing to participate in the project, they want to ensure that Trieste will still be Italy's property by abstaining from selling it to the Chinese.
Integral factor
Greece
For the new silk road, China needs potential customers, and this is exactly what tourism guarantees every time they visit another country.
Monetary
Infraestructure
Involvement
Supporters
Like many others, Chinese tourists are drawn to Greek culture and history, which causes them to visit and invest in Greece, who needs capital. In this way, this results in a win-win situation.
China aims that the construction of this New Silk Road takes around 900 billion dollars, explaining that it will bring a new era of globalization.
China invested in ports, bridges and roads to get going with the project.
Life savior
Dependence
It is implied that sixty two countries could see investments of up to US$500 billion over the next five years.
Many families, whose cities were a virtual standstill during the pandemic, felt relieved when China sent tons of necessary equipment to their country.
Several countries have shown their support to China's big project, but Pakistan is the most remarkable. Pakistan's Prime Minister Nawaz Sharif said that this trade route was the dawn of a truly new era of synergetic intercontinental cooperation.
The sudden shortage of personal protective equipment that arose in the pandemic highlighted Europe's dependence on Asian imports.
Europe
Trieste
Because of the lack of European leadership, Europe risks becoming the battlefield for China and United States; Therefore, they could be the third key player in the global arena.
This port is found in the middle of a trade war, since every investment the Chinese make infuriates the United States and exacerbates the stand-off between US and China.
One strong incentive is that Trans-Eurasian trade infrastructure could bolster poorer countries to the south of China, as well as boost global trade. Domestic regions are also expected to benefit.
The construction of this trade route was mainly inspired by the desire of the Chinese to make trading easier and to bring goods to customers.
GROUP MEMBERS:
Nicole Belliard (21-0395)
Emely Calderon (21-0388)