New Silk Road: Xi Jinping Promises Equity in Investments

The network of infrastructure and technological works on five continents was designed by President Xi Jinping in 2013 and since then, more than 130 countries have joined to varying degrees. But as international enthusiasm for these investments grew, so did the minor objections to the funding agreements, which feared over-indebtedness by participants or the hegemonic expansion of Asian power.

"Our cooperation will be based on extensive consultations, the articulation of efforts and mutual benefits," said the leader of the Communist Party in front of 37 heads of state, the 300 officials as minister and representatives of 90 organizations attending the summit. "We stress the importance of the rule of law and equal opportunities, we strive to … advance by consensus, we respect the territorial integrity of each and affirm that each and every country has the right to define its own development strategies, "he said at the opening ceremony Friday which was attended by Ambito Financiero.

In addition to calling for multilateralism and trade war protectionism with the United States, XI said: "We support collaboration between national and international financial institutions to provide diverse and sustainable support for projects. promote local currency financing and the mutual establishment of financial institutions. "" We will adopt widely accepted rules and standards and encourage participating companies to follow them in the development, operation, marketing and development. Acquisition and auctioning of projects, "he added.

Chinese diplomacy was this time inclined to respond to the concerns of the West with promises of transparency and fairness. The turning point has materialized: the German Minister of Economy, Peter Altmaier, hinted that the European Union (EU) would evaluate the bloc's membership, while a company with this initiative seemed distant. Until now, Italy is the only country in the region to have joined the proposal. On the other hand, $ 64 billion worth of trade agreements have been signed and the signatories have signed "203 goals" that have not yet been disclosed.

At least 199 power plants, a similar number of infrastructure works and 41 gas pipelines are some of the projects spread across the five continents that constitute the Xi Government's investment map. Experts estimate that China is willing to spend $ 3.6 billion to recreate its former trading relationship, a strategy that was originally limited to one sector in Asia and spread geographically to reach Latin America .