The Belt and Road Initiative (BRI):Update

Oct 18, 2023

This week, representatives of 90 countries were in Beijing for a two-day summit to celebrate the 10th anniversary of the Belt and Road Initiative (BRI).

According to The Economist, the BRI involves China financing billions of dollars of investment in roads, railways and other infrastructure across Eurasia and Africa.

The West believe BRI’s real purpose is to construct a Chinese-led world order.

More than 150 countries have signed up to the BRI, including 18 of the EU’s 27 members. Yet the progress has slowed, while the EU has tightened rules around foreign investments in critical infrastructure, citing national-security concerns. Italy, the only G7 member to join the BRI, is expected to withdraw.

The Western countries are working on an alternative transport corridor: the US-backed India-Middle East Transport Corridor Project aims to connect Europe, the Middle East and Asia through rail and sea links to counter China’s BRI:

G20 Focuses On India-Middle East Transport Corridor

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