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November 15: China’s Belt and Road Initiative (BRI) dwarfs the Marshall Plan of USA and cannot be ignored, said experts at a program organised by Nepal Economic Forum (NEF) as a part of its regular ‘neftalk’ in Kathmandu on Wednesday, November 15.
Sujeev Shakya, chair of the NEF, said there is a new world order emerging with the Quad block and Indo Pacific initiatives being revived by Australia, Japan, India and United States.
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Keynote speaker of the program Laurence Brahm, chair of Himalayan Consensus Institute, said that the China intends to share the formula of fusion economics through outbound investments in developing countries facing the same challenges which China had overcome through the past three decades through the BRI initiative.
Brahm pointed out that fixed asset infrastructure like high speed rails, highways, ports and telecommunications as well as air travel systems are important driver of growth through a combination of public and private partnership, which is a critical part of China’s success story.
Laurence acknowledged that the BRI is going to be intrusive, but according to him, ecological civilization needs to run in parallel to the intrusion; and it is the path that China has taken in the recent years.
Regarding the speculations on financing of the BRI projects, he noted that China is no longer the factory of the world, it is the investor of the world and will soon be the central bank of the world that creates financial architectures.
The major challenge according to him, that the BRI faces, is the issue of cultural connectivity which calls for more cultural dialogue, not only in China, but in all the countries across Asia and Europe. Silk route was not only about trade of silk and tea but also an exchange of values and culture which needs to come back.
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<p>Sujeev Shakya, chair of the NEF, said there is a new world order emerging with the Quad block and Indo Pacific initiatives being revived by Australia, Japan, India and United States.</p>
<p>“Nepal rather than pursuing equidistance policy between China and India, should take advantage of the synergy that China’s BRI and India’s Act East policy presents,” reads a press statement issued by NEF.</p>
<p>Keynote speaker of the program Laurence Brahm, chair of Himalayan Consensus Institute, said that the China intends to share the formula of fusion economics through outbound investments in developing countries facing the same challenges which China had overcome through the past three decades through the BRI initiative.</p>
<p>Brahm pointed out that fixed asset infrastructure like high speed rails, highways, ports and telecommunications as well as air travel systems are important driver of growth through a combination of public and private partnership, which is a critical part of China’s success story. </p>
<p>Laurence acknowledged that the BRI is going to be intrusive, but according to him, ecological civilization needs to run in parallel to the intrusion; and it is the path that China has taken in the recent years. <br />
Regarding the speculations on financing of the BRI projects, he noted that China is no longer the factory of the world, it is the investor of the world and will soon be the central bank of the world that creates financial architectures. <br />
The major challenge according to him, that the BRI faces, is the issue of cultural connectivity which calls for more cultural dialogue, not only in China, but in all the countries across Asia and Europe. Silk route was not only about trade of silk and tea but also an exchange of values and culture which needs to come back.</p>
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<p>“Nepal rather than pursuing equidistance policy between China and India, should take advantage of the synergy that China’s BRI and India’s Act East policy presents,” reads a press statement issued by NEF.</p>
<p>Keynote speaker of the program Laurence Brahm, chair of Himalayan Consensus Institute, said that the China intends to share the formula of fusion economics through outbound investments in developing countries facing the same challenges which China had overcome through the past three decades through the BRI initiative.</p>
<p>Brahm pointed out that fixed asset infrastructure like high speed rails, highways, ports and telecommunications as well as air travel systems are important driver of growth through a combination of public and private partnership, which is a critical part of China’s success story. </p>
<p>Laurence acknowledged that the BRI is going to be intrusive, but according to him, ecological civilization needs to run in parallel to the intrusion; and it is the path that China has taken in the recent years. <br />
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<p>“Nepal rather than pursuing equidistance policy between China and India, should take advantage of the synergy that China’s BRI and India’s Act East policy presents,” reads a press statement issued by NEF.</p>
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<p>Brahm pointed out that fixed asset infrastructure like high speed rails, highways, ports and telecommunications as well as air travel systems are important driver of growth through a combination of public and private partnership, which is a critical part of China’s success story. </p>
<p>Laurence acknowledged that the BRI is going to be intrusive, but according to him, ecological civilization needs to run in parallel to the intrusion; and it is the path that China has taken in the recent years. <br />
Regarding the speculations on financing of the BRI projects, he noted that China is no longer the factory of the world, it is the investor of the world and will soon be the central bank of the world that creates financial architectures. <br />
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