How China can counter Trump’s assault on the belt and road
Panama's recent withdrawal from China's Belt and Road Initiative (BRI) highlights the challenges China faces in maintaining the momentum of its global infrastructure project. This decision, influenced by sustained pressure from the Trump administration, raises concerns about potential ripple effects, particularly in Latin America, despite the initiative's significant contributions to China's global trade network.
Since its inception in 2013, the BRI has become a cornerstone of China's global trade strategy, with trade in goods between China and BRI nations rising to 22.1 trillion yuan (US$3 trillion) in 2024. The initiative encompasses a wide array of infrastructure and financial investments, including railways, highways, ports, and green energy projects, demonstrating its transformative influence across various regions through projects like the Peljesac Bridge in Croatia, a highway in Montenegro, and a railway linking Mombasa to Nairobi in Kenya. Given shifting global dynamics, China needs to adapt its approach, potentially focusing on project-specific agreements rather than broad memorandums of understanding.
via SCMP Full Text Feed
Panama's recent withdrawal from China's Belt and Road Initiative (BRI) highlights the challenges China faces in maintaining the momentum of its global infrastructure project. This decision, influenced by sustained pressure from the Trump administration, raises concerns about potential ripple effects, particularly in Latin America, despite the initiative's significant contributions to China's global trade network.
Since its inception in 2013, the BRI has become a cornerstone of China's global trade strategy, with trade in goods between China and BRI nations rising to 22.1 trillion yuan (US$3 trillion) in 2024. The initiative encompasses a wide array of infrastructure and financial investments, including railways, highways, ports, and green energy projects, demonstrating its transformative influence across various regions through projects like the Peljesac Bridge in Croatia, a highway in Montenegro, and a railway linking Mombasa to Nairobi in Kenya. Given shifting global dynamics, China needs to adapt its approach, potentially focusing on project-specific agreements rather than broad memorandums of understanding.
via SCMP Full Text Feed
