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A report reviews the failures of the Chinese Belt and Road Initiative


Mary B
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A report reviews the failures of the Chinese Belt and Road Initiative

 
Free / Subtitles - Washington
October 10, 2020
 
 

The initiative projects are subject to self-interest and not to the policies of the receiving countries The initiative projects are subject to self-interest and not to the policies of the receiving countries

Despite the great promotion by the Chinese regime of the Belt and Road Initiative as a global initiative, it has so far proved that it is only a mess of losing investments and not a plan that can make a difference in Beijing's interest.

A Foreign Policy report quotes that Beijing is deliberately luring poor countries with unsustainable debts to finance infrastructure projects, allowing them to seize these assets when debt recipients are in distress, which could give China a broad strategic extension.

The report indicates that the initiative's projects are developed by companies and they do not care much about China's diplomatic goals, but rather they often undermine them, but they are adept at harnessing their interests to the ideas and slogans of the country's top leaders.

The initiative documents appear to be very broad, and accommodate various interests and projects, rather than directing party state resources towards specific geopolitical goals.

The development financing system in China is also not suitable for directing foreign investment policy to geopolitical ends. The country's diplomatic, military and strategic agencies do not participate, and funding requests are coming from abroad, not from Chinese planners.

Beijing, with slowing growth and collapsing profits, is trying to help Chinese companies expand overseas, but the feasibility analysis and risk management and supervision remain weak.

The report shows that about half of Chinese investment abroad is lost, and that private commercial interests in countries that receive Chinese investments are the main engines of projects, as they are not organized or guided by government policy.

And governments fail to adequately organize Chinese companies on their territory, which leads to frequent corruption scandals, such as what happened in energy projects in Kazakhstan, and protests against land grabbing in Cambodia, where the poles associated with the regime and their Chinese partners work.

 The report concludes that chaos characterizes Chinese investment abroad. It creates opportunities for self-interest.

The "Belt and Road" initiative includes huge global projects from ports, railways and industrial complexes extending across Asia, Africa, the Middle East and Europe, within which trillions of dollars will be invested, and the Chinese project has faced criticism for its accumulation of debts to poor countries.

https://www.alhurra.com/arabic-and-international/2020/10/10/تقرير-يستعرض-أوجه-الفشل-في-مبادرة-الحزام-والطريق-الصينية

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