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Overseas views on NPC & CPPCC: Belt & Road is changing the world economic map

Editor: Li Kun 丨CCTV.com

03-04-2016 14:31 BJT

Full coverage: 2016 NPC & CPPCC Sessions

Editor's note: The National People's Congress (NPC), China's top parliamentary body, and the Chinese People's Political Consultative Conference (CPPCC), China's top advisory body, are scheduled to convene its annual sessions, known as the "two sessions" on March 3-15 2016, which marks a pivotal year as the nation continues on to embark with its reforms and opening up policy, shifting towards a "New Normal" for economic growth rates, starting its 13th Five-Year Plan for social and economic development over the next five years and confronting challenges on the foreign policy front. How will the NPC address those concerns? What do foreign experts and Overseas Chinese say? The Panview Column of CNTV has invited some of them to express their views on major issues to be discussed at the two sessions.

By Adel Soualah, independent Writer & journalist & TV producer worker for International media outlets

Chinese President Xi Jinping's Belt and Road initiative stands as a result of robust economic planning that would transform the global trade and investment map far ahead into the future. As China grows stronger politically and diplomatically, more nations will ask Beijing to play a greater role in international affairs.

The Belt & Road initiative offers plenty of incentives that create win-win scenarios for all sides involved and would inject a better global balance of investments that benefit all those engaged in the new Silk Road sphere.

Beijing is pushing forward its wheel of development that benefits other countries, which would also strengthen China and the world for decades to come. China is establishing a new global economic vision that could dramatically change global economic exchanges.

For all nations along the new Silk Road, they become dealers and beneficiaries of China's trade and investment projects. China's investments would expand all across Asia, the Middle East, Europe and Africa.

The Asian Infrastructure Investment Bank (AIIB) has come into existence to create an effective finance mechanism to support Belt & Road infrastructure projects that can establish more business and diplomatic partnerships.

Beijing's commitment to the new Silk Road stands as a pivotal factor to China's bright future. Nonetheless, there are numerous financial risks in regards to the Belt & Road.

We are still facing a number of global crises, while oil prices keep falling and that could destabilize the payoffs on infrastructure projects. Additionally, would the rest of the world support the Belt & Road?

Let's not forget the large projects that China had already undertaken in Europe, Asia, the Middle East and Africa, which offer tremendous potential for long-term success of the Belt & Road.

All countries participating in the new Silk Road can benefit on strategic and economic levels, since the initiative involves three continents. They could score potentially big profits, since Beijing favors win-win scenarios.

There are some risks to take into consideration, because powerful developed countries appear unlikely to support the Belt & Road, fearing it threatens their dominance in the global economy.

Nevertheless, Beijing offers wise international policies to entice other nations to join in. However, dominant countries may seek to destabilize China, along with the Belt & Road by instigating more diplomatic disputes against China and its allies.

In reality, Chinese projects have opened up new economic prospects that create greater prosperity for developing countries, but other political factors may ignite disputes among participating countries.

The Belt and Road introduces a new economic methodology that supports a holistic strategy that gives countries high economic growth opportunities.

Meanwhile, common benefits can ensure a continuity of development in the future. And despite existing threats surrounding the project, the Belt & Road is still likely to succeed.

The Belt and Road initiative acts as an economic engine of growth for many countries and they do not want it to collapse.  Additionally, some Chinese enterprises have already made major investments in Africa, Europe and Asia.

President Xi has also made many state visits to nations participating in the Belt & Road. His global tours joined by Chinese Foreign Minister Wang Yi have helped to blaze a new trail for the initiative.

Bio of Adel Soualah:

Independent writer & journalist & TV producer working for international media outlets, interested in Geo-political issues and the global economy.


 

( The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com. )

 

 

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

Panview offers an alternative angle on China and the rest of the world through the analyses and opinions of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

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