What is going on with China’s Belt and Road Initiative? – ABC News
By Toby Mann Posted Tue 23 May 2023 at 8:48am
China’s grand Belt and Road Initiative has been underway for a decade as part of Beijing’s crusade to become the world’s leading economic superpower at the centre of a new global trade network.
Another raft of projects was added to the campaign’s to-do list at the weekend’s China-Central Asia Summit, where Chinese President Xi Jinping promised to build more railway and other trade links with Central Asia.
“We need to expand economic and trade ties,” Mr Xi said in a speech to leaders from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan on Friday.
The summit coincided with Prime Minister Anthony Albanese, US President Joe Biden and other leaders of the Group of Seven major economies coming together for a meeting in Japan.
So, what is the latest on Mr Xi’s signature global trade policy, and can it challenge US influence as trade across Asia increases?
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