China's New Silk Road II
Disagreement
Pandemic issues
Negative impact
Initiative
G7
Financial strategy
Economic lead
Action plan
Partnership
Chinese companies
Politicians
Dock workers
Politians in Rome are gradually turning against China and their new silk road because they want Europe to make a tougher stand towards Beijing.
Piraeus' dock workers were against the takeover of the port because it made their work hader and others were not even allowed to keep working.
Relationship
Italy
China is a big and powerful country. For there to be a relationship with China and any country of Europe, the whole continent has to take the initiative, not a single nation.
Italy is that European country who has decided to make ties and deals with China, but it is hard for them to make a solid relationship by themselves.
Development
Profits
Just like other countries did to China, they started to get goods cheaply and exploit workers too.
In ports were Chinese companies negotiated, the profits would stay with China and not with the native workers.
Belt
Road
This covers the routes from the land, making use of roads and bridges.
This encompasses the maritime routes by the use ports.
Transport
Telecoms
By the elaboration of such project, the Chinese transport companies like COSCO, CHINA MERCHANTS, etc., are well put for economic growth.
Also, Chinese telecommunication companies are expected to benefit from this great investment by growing into global brands.
State-owned banks
Europe's incompetence
China’s Big Four state-owned banks extended around 90 billion in loans to the economies related to the initiative of the new silk road project.
Europe no longer has these tools that give China a huge lead in the whole silk road situation, which are the state-owned banks and enterprises they are using.
Hungary
Serbia
Golden visas
Europe's individuality
Most of the golden visas provided by Greece are sold to middle class Chinese people. However, the program has been dropped because of the pandemic, which affects the relationship between China and Greece.
The lockdown due to the pandemic made all countries to close their borders to solve their own problems. This is a reason why Europe is not seen as a single one, and that is not convenient for the politicians who want to face China as a single voice.
Serbia has benefited from China's funding, and the investments of the Chinese in this country resulted in an important project for the New Silk Road which is a railway line between Belgrade and Budapest.
Serbia's railway is supposed to end in Hungary, and the president of Hungary Victor Orban has made it clear that he supports the Belt and Road Initiative and that he thinks having China as a partner is crucial.
Supporters
Opposers
AIIB
Shareholders
$20 billion will be paid-in capital from eighty shareholders, of which China has the largest with 28% share.
When the Chinese made a gathering concerning the New Silk Road Project, the Prime Minister of the globally relevant country of Italy, Paolo Gentiloni, made an appearance showing his support.
The Asian Infrastructure Investment Bank has authorized capital of $100 billion.
On the other hand, the representatives of Canada, France, Germany, Japan, the UK and the US, passed on the opportunity.
GROUP MEMBERS:
Nicole Belliard (21-0395)
Emely Calderon (21-0388)