[ad_1]
By Lalit K Jha Washington, July 30 (PTI) US Secretary of Commerce Wilbur Ross has today raised the issue of the quality of the execution of projects carried out as part of the project. China's One-Belt-One-Road initiative. the model of development badistance has little local content and there have been complaints about the quality of the products used.
In a survey of China's ambitious initiative, One-Belt-One-Road (OBOR), Many roads in the Indo-Pacific region.
OBOR is the multi-billion dollar project of Chinese President Xi Jinping. The initiative aims to improve connectivity and cooperation between Asian countries, Africa, China and Europe.
"We think there is more than one belt and more than one road," Ross said in response to a question on OBOR. the first Indo-Pacific Business Forum organized by the US Chambers of Commerce.
Noting that the Chinese model of development badistance has little local content and that there have been complaints about product quality, he said: let's say that Chinese content, both in terms Only hand-made materials, is virtually 100% in the One Belt, One Road program. "
He said that all the countries he visited were not only Indo-Pacific but in Africa and elsewhere, what – in fact one of their complaints was that there was very little local content.
"There have also been some complaints about the quality of the workmanship You've seen this big dam in Laos. dam, it turned out to be South Korean. But it just broke. It's collapsed. That's the kind of problems that countries do not need, because it leaves them with the debt of the first infrastructure project, and the need to remake everything, "said Ross
. The Pacific was an important region for the United States and its links actually go back to 1794.
"The State Department has opened a branch in Kolkata, so that's how it's going. But the relationship has multiplied, he said
From the commercial point of view, he said, there are all kinds of reasons for that.
"We import from the region about 1 billion dollars and us This trade deficit of 550 billion US dollars is a problem, but the total value is also very, very important and of this trade deficit, China is about 376 billion, so the biggest part Ross says that these exports to the region support some 50,000 jobs in the United States. 40,000 US companies sell more than $ 100 billion worth of products to the Indo-Pacific region
"So it's a very important economic factor for us: exports to the region have increased 10% l 39; Last year, which is rather for the Indo-Pacific region, the Brookings Institution estimates that the next billion people to enter the economic status of the middle clbad, 88% will be in the Indo-Pacific region. 19659002] "So it is a pretty staggering statistic from the point of view of consumption," he observed.PTI LKJ SMJ
SMJ
This is an unedited, unformatted feed from the Press Trust of India thread
[ad_2]Source link
