China has rejected criticism of the infrastructure project, the New silk road. The project would be compatible with the environment, for the parties to the contract financially viable and free of corruption, said the Chinese President Xi Jinping at the opening of a silk road conference in Beijing. He promised in front of nearly 40 heads of state and government, that all projects should be transparent to expire; China had “zero tolerance for corruption”.
The New silk road is to build based on the historical routes between the Mediterranean and East Asia, new trade and transportation networks between the continents. China is funding a network of new ports, railway lines, roads and industrial parks in Asia, Africa and Europe. The project is not an exclusive Club, said Xi. The common development and prosperity, respecting international Standards for project development, procurement and operation.
Xi Jinping – China’s President touts for global infrastructure projects, Xi Jinping, wants to convince his critics from the expensive large-scale project of New silk road. China plans to simplify the trade routes between Asia, Africa and Europe. © Photo: How Hwee Young
China has been called an exact investment volume for the project. Experts estimate that several trillion dollars will be needed to implement plans. IMF Chief Christine Lagarde said in Beijing, the projects would have to expect: “The past teaches us that infrastructure investments can lead to a problematic increase in the debt, if they are not carefully planned and implemented.”
critics warn that financially vulnerable countries in a debt trap and a growing Chinese dependence could get. Sri Lanka, for example, could not pay back its debts to China and left the country to balance the control of a deep-water port for 99 years. Another point of criticism is the lack of environmental impact of coal – or hydroelectric power plants.
Europeans wait – only Italy is in the process of
Germany is the opposite of the Chinese prestige project skeptical – as well as other large EU countries. An accusation is not that China is in the Social -, environmental – and people comply with legal standards. Also it is criticized, it is mainly Chinese state-owned companies were in the construction of bridges or roads to the train. The Initiative, which is supposed to connect to, should be a two-way street, the German industry.
As the only country in the group of seven leading industrial Nations (G7) has declared Italy formally its willingness to participate in the project. Key European States such as Germany, France, Spain, and the UK wanted to vote as a group with China, and not individually. You hope for better results in negotiation.
Xi promised in Beijing: “We will not revise unjustified laws, subsidies, and practices, and abolish the fair competition.” China will treat all companies the same, and an “economic environment to promote, to market, and the law is based”. The intellectual property will protect China. Details or time periods, Xi is not called; promises of this kind made in China.
praise from Altmaier and Putin
Federal Minister Peter Altmaier (CDU), representing in Beijing, the Federal government, spoke of “very encouraging” announcements, the take Germany seriously. This is especially the same conditions of competition: Foreign firms have to overcome in China, many hurdles. Altmaier said Germany radio, the project will be an opportunity for all parties Involved”, if it connects with open markets, fair and competitive conditions on both sides of the silk road”.
At the summit, among other things, the De facto head of government of Myanmar, Aung San Suu Kyi, and the Ethiopian Prime Minister, Abiy Ahmed. Malaysia’s Prime Minister Mahathir Mohamad, who had been exposed to some construction projects due to the cost, declared his full support. Not the USA, are represented.
Russian President Vladimir Putin praised the silk road project, because it will “strengthen creative cooperation” of States in Eurasia: “This fits perfectly to our plans.” With respect to the Eurasian economic Union – the merger of Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan in a common market, – he said, all five countries supported the idea to combine the development of their business community with the silk road project.