China and the West have been vying for infrastructure projects in Bougainville, an autonomous region in Papua New Guinea, in an escalating battle for influence in the South Pacific, reports the Nikkei Asian Review.
China agreed to fund the $365 million Kaliwa dam and take part in the $3.3 billion southern Luzon railway project in the Philippines. A memorandum of understanding on oil and gas exploration was also signed between the two countries.
Pakistan faces a financial crisis and has secured a bailout package from Saudi Arabia, but surprisingly, it has yet to secure a similar package from China. Pakistan expected a decent bailout package from China, which is often called Pakistan’s all-weather friend, but China likely wants more detailed negotiations. Five reasons help explain China’s surprising response.
China and the Philippines are expected to sign billions of dollars worth of Belt and Road deals on Tuesday, as the United States and the Philippines move forward on key issues including free trade talks, reports the Nikkei Asian Review.
Washington’s shortsightedness is pushing its own competitors—the world's largest nuclear power and the second-largest economy—closer together.
Five years into China’s massive Belt and Road Initiative, the United States is trying to respond to Xi Jinping’s infrastructure-building spree. In an interview with The Wall Street Journal, Reconnecting Asia Director Jonathan Hillman discusses the craving for more alternatives to Chinese offers and the window of opportunity it creates for the United States.
On November 14, the U.S.-China Economic and Security Review Commission, a body created by Congress to monitor and investigate national security and trade issues between the United States and China, published its 2018 Annual Report. Reconnecting Asia’s data and analysis are used to help discern China’s objectives for the Belt and Road Initiative and to highlight potential challenges and opportunities for the United States.
A milestone agreement on trade and economic cooperation signed in May 2018 represents an important step forward for the relationship between the Eurasian Economic Union (EEU) and China’s Belt and Road Initiative (BRI).
China's Belt and Road is commonly visualized as a train carrying commerce across Eurasia. But a train does not adequately capture BRI’s significance or scope. Instead, a Chinese flag is a better representation. Whether it is China’s intention or not, the increasing connectivity the BRI brings comes hand in hand with exposure to Chinese culture.
When it was launched, China heralded its Belt and Road Initiative as a “golden opportunity” to revitalize the region, but today it has raised serious concerns about debt sustainability, drawing scrutiny from the IMF. One way for Beijing to demonstrate its commitment to addressing the IMF's concerns is by partnering to develop more sustainable and transparent lending practices.
Singapore's central bank announced the start of a new program that will provide Asian emerging nations banking and legal services for infrastructure projects like roads, harbors, airports, railroads, and power stations. This program aims to make the city-state a key player in contracts related to China's Belt and Road Initiative.
The Japan Bank for International Cooperation and the European Investment Bank will collaborate to extend loans for infrastructure projects in the Middle East and Africa, in an apparent effort to offer an alternative model to China's Belt and Road Initiative and U.S. protectionism, reports the Nikkei Asian Review.
Pakistan has formally asked the International Monetary Fund for financial assistance amid pressure to meet external debt obligations, reports the Nikkei Asian Review. IMF help will require absolute transparency on the nature, size, and terms of the country's debt, including its BRI investment from China.
The China Road Project, a team of researchers interested in China’s role in global development, will be traveling 60,000 kilometers over land and sea to investigate China's Belt and Road initiative (BRI), a foreign policy concept and global infrastructure plan announced by Chinese president Xi Jinping in 2013, to help close the information gap and shine a light on the multi-trillion dollar initiative.
Chinese capital flowing into the Belt and Road Initiative projects surged to a record $20.1 billion in 2017, even as the country's overall outbound foreign direct investment fell. That record will likely be beaten again this year, reports the Nikkei Asian Review.
With the approval of Congress, the U.S. moves forward with a $60 billion investment fund to boost foreign development funding. According to the Nikkei Asian Review, this is an effort to counter China's expanding influence under the BRI.
The U.S. Senate passed legislation overhauling the way the federal government lends money for foreign development, creating a $60 billion agency intended largely to respond to China's growing influence, according to the Nikkei Asian Review.
Five years ago, Chinese president Xi Jinping announced the Belt and Road Initiative (BRI), a trillion-dollar plan that aims to connect more than 70 countries via an overland “belt” and a maritime “road.” On October 1, the CSIS Reconnecting Asia Project hosted a half-day conference examining China’s BRI, including the challenges, risks, and opportunities it poses for the United States.
Newly elected Asian leaders from the Maldives, Malaysia, and Sri Lanka question the "business sense" of some Chinese-funded infrastructure projects under the Belt and Road Initiative, casting doubt on Beijing's strategy for building regional influence.
Myanmar and China renegotiated a BRI contract for the construction of Kyaukpyu deep-sea port, reducing Myanmar's financial burden. Construction will not proceed before certain demand conditions are met, according to the Nikkei Asian Review
Japan’s Nippon Express will begin offering regular freight train shipping between China and Europe in February, as China’s Belt and Road Initiative accelerates the transfer of goods between the two markets, reports the Nikkei Asian Review.
China and Japan announced plans to sign dozens of agreements on infrastructure and other projects when Japanese prime minister Shinzo Abe visits China next month.
Although Beijing insists that its Belt and Road Initiative has no geopolitical motives, the project has been at the center of an increasing number of political controversies, foreign and domestic, writes the Financial Times in a Special Report, citing analyses from the Reconnecting Asia Project.
Five years after the announcement of China's Belt and Road, the ambitious drive to build new infrastructure across Eurasia has produced a mixed track record on key issues such as its energy footprint, debt sustainability, and environmental impact.
Maldivians voted out incumbent President Yameen, an early supporter of Beijing's Belt and Road Initiative who accepted funding for bridges, housing and other infrastructure projects.
Nepal's new government has restored a $2.5 billion deal with China Guangzhou Corporation to build the nation's largest hydroelectric power plant. This is part of prime minister K.P. Sharma Oli's strategy to use Chinese investment to improve Nepal's infrastructure, writes the Nikkei Asian Review.
As demand for bandwidth grows along China’s Belt and Road initiative, Chinese involvement in technology, media, and telecommunications projects will continue to rise. Along with commercial opportunities, these projects carry geopolitical and strategic implications, paving the way for China’s technological dominance and furthering its ability to set global standards under the banner of its Belt and Road initiative.
The European Commission has announced "The European Way to Connectivity," a proposal aimed at boosting Europe's infrastructure links with Asia.
Envisioning a bilateral trade deal with Sri Lanka, the Thai government hopes to tap into opportunities from China's Belt and Road Initiative without directly dealing with China.
Browse our analysis section for news and articles on topics such as China's Belt and Road Initiative (OBOR), the Competing Visions of Japan, India, and other regional powers, and the stakes for U.S. policy.
Chinese infrastructure funding is as likely to go outside of Beijing's six defined economic corridors as it is to go in them; indicating a possible lapse of control from the central government. This could present opportunities for its partners and competitors, writes Jonathan Hillman in the Nikkei Asian Review.
Five years ago, President Xi Jinping unveiled the Belt and Road Initiative, a vast investment scheme cloaked in the rhetoric of cooperation that was designed to pave the way for China's transition to great power status. Instead, it has become a roller coaster that Beijing is struggling to control.
Following their meeting at the 2018 Eastern Economic Forum, Chinese president Xi Jinping and Russian president Vladimir Putin affirmed their intention to link China's Belt and Road Initiative with the Russian-led Eurasian Economic Union.
Beijing has pledged another $60 billion to African countries as it tries to address the perception of the Belt and Road being a debt trap, according to the Nikkei Asian Review.
Djibouti intends to promote the Belt and Road Initiative despite caution about the debt burden, according to the Nikkei Asian Review. The country's strategic location at the mouth of the Red Sea could help China connect to Africa and Europe by land and sea.
Malaysia and Singapore will resume construction of the 350 km East Coast Rail Link project in 2020 on the basis that Singapore will be compensated $11 million for the delay.
Five years since it was announced, China’s Belt and Road Initiative (BRI) has yet to materialize on the ground as promised. According to Chinese officials, the BRI includes six economic corridors that will carry goods, people, and data across the Eurasian supercontinent. But a statistical analysis of 173 infrastructure projects finds that Chinese investment is just as likely to go outside those corridors as within them.
Japan and China are moving ahead with plans to cooperate on overseas infrastructure projects, with a public-private committee scheduled to hold its first meeting in Beijing.
China's Belt and Road Initiative aims to dominate the next wave of wireless technology by becoming the global leader in the development of 5G networks.
Indian prime minister Narendra Modi heads to Nepal for a meeting of the seven-nation BIMSTEC bloc, where improved trade and connectivity have the potential to help India counter Beijing's massive Belt and Road Initiative, according to the Nikkei Asian Review.
At risk of granting China valuable concessions to ease their debt burdens, Central Asian countries seek to bolster relations with China and secure a piece of the Belt and Road Initiative, according to the Nikkei Asian Review.
China is courting African leaders with offers of economic assistance through the Belt and Road Initiative as it prepares to host the Forum on China-Africa Cooperation on September 3rd and Sept 4th, according to the Nikkei Asian Review.
Thailand is welcoming 500 Chinese companies over the weekend and is expecting to sign more than a dozen bilateral contracts that will link its Eastern Economic Corridor to China's Belt and Road Initiative.
China will contribute $3.6 billion to Turkey for infrastructure projects in order to expand its Belt and Road Initiative and mitigate the impact of Turkey's economic crisis.
Malaysian Prime Minister Mahathir claims that Chinese leaders have accepted his government's request to stop three China-backed infrastructure projects due to debt concerns.
The plummeting Turkish Lira may serve as a warning for emerging Asian economies who own significant BRI infrastructure debt. A drop in domestic currency can cause a crisis when time to repay debts, which are typically denominated in USD, according to the Nikkei Asian Review.
Malaysian prime minister Mahathir Mohamad is heading to China to renegotiate billion-dollar infrastructure projects signed by his predecessor, in an effort to reduce the nation's financial dependence on China.
Vietnam's Ministry of Investment and Planning issued a warning to its government about Chinese development assistance, citing concerns of high interest rates, project overruns, and a lack of local contribution to the projects.
The Chinese government is set to expand infrastructure spending by nearly $10 billion to stimulate the economy amid the growing risk of a financial slowdown as its trade war with the U.S. escalates, according to the Nikkei Asian Review.