China has pledged $124bn to rebuild ports, roads and rail networks in what is known as the Belt and Road initiative. The project will see a new network of roads, railways and ports built across Asia from Beijing through Vietnam and Laos into Myanmar and Bangladesh. China's President Xi Jinping presented the idea as being to everyone's benefit when he spoke at a summit in Beijing, to an audience which included President Putin and President Erdogan. However, India and Japan did not attend as they are suspicious that the plan masks China's geopolitical ambitions and that the true motive is a grab for strategic assets.
China has pledged $124bn to rebuild ports, roads and rail networks in what is known as the Belt and Road initiative. The plan is to expand trade links with Asia, Africa, Europe and beyond, and includes $9bn to help developing nations and international institutions that are part of the Belt and Road initiative. China's President Xi Jinping presented the idea as being to everyone's benefit when he spoke at a summit in Beijing, to an audience which included President Putin and President Erdogan. However, India and Japan did not attend as they are suspicious that the plan masks China's geopolitical ambitions and that the true motive is a grab for strategic assets.