Nepal joins China's OBOR initiative


Sourabh Gupta, a senior specialist with the Institute for China-America Studies, speaks at a roundtable discussion on the Belt and Road Initiative in Washington on Tuesday. China has also rejected suggestions that the new Silk Road is about Beijing trying to dominate the world and mould it to its liking, saying it is good for all and anyone can join.

A man is pictured at the media center for the Belt and Road Forum at the National Convention Center in Beijing, May 12, 2017.

Chinese President Xi Jinping in 2013 unveiled an ambitious economic and foreign policy - the "Silk Road Economic Belt" and "21st Century Maritime Silk Road".

The presence of the U.S. delegation would mark the end of a boycott by Washington of China's "Belt and Road Initiative", and would be "a good start for Beijing and Washington to build bilateral trust", said Yuan Zheng from the Chinese Academy of Social Sciences.

The progress of Belt and Road Initiative has drawn a clear outline of the prospect of win-win cooperation between "Chinese Dream" and "European Dream".

Speaking last week at a meeting of the Asian Development Bank in Japan, Philippine Deputy Central Bank Governor Diwa Guinigundo said it was hard to pre-judge the new Silk Road. Leaders from 28 countries including Russian President Vladimir Putin are due to attend, but none from major Western countries.

But we in the Association of Southeast Asian Nations can see the truth in it when we consider just some of the game-changing infrastructure projects resulting from the belt and road initiative: for example, the China-Laos railway; the Jakarta-Bandung high-speed railway; the Nakhon Ratchasima-Bangkok high-speed railway; and, for us in Malaysia, the East Coast Rail Link.

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As the United States seeks an "American First" agenda, many countries are rushing to be part of China's big plans.

The prime minister's is paying the visit at the at the invitation of Chinese President Xi Jinping.

By the end of 2016, nine Chinese-funded banks have set up 62 direct branches and representative offices in 26 countries along the Belt and Road, offering tailored services to local clients, Pan said.

"I think there are many examples, so I am sure in the future there will be more examples for the cooperation of the enterprises of the two countries through the initiative", said Li Bin, economic consul at the'embassy. India has reservations over the China-pakistan Economic Corridor, part of the OBOR, as it is proposed to pass through the Pakistan- occupied Kashmir.

Trump's decision to pull out of the proposed 12-nation Trans-Pacific Partnership deprives China's neighbours of a tool they hoped would counter its rising influence, said Max Baucus, the US ambassador to Beijing until January.

A number of Agreements/ MoUs related to CPEC projects are also expected to be signed on the occasion.