China did not get the support it was looking for from India regarding Beijing’s One Belt One Road Initiative (BRI) following an important security bloc meeting Tuesday, April 24. India’s Prime Minister Modi is expected to visit Chinese President Xi Jinping in China later this week to discuss India’s potential membership. – Adriana Ray
As of May 8th, the Japanese and Chinese governments have announced plans to create a council to discuss joint China’s Belt and Road Initiative (BRI) projects in other nations. Prime Minister Shinzo Abe and Chinese Premier Li Keqiang are expected to formally establish the council during the Japanese, Chinese, South Korean summit happening May 9. – Adriana Ray
Xiamen – On September 9th, FAO Global CEO Brandon Hughes, attended an all-day forum focused on the Belt & Road Initiative (BRI) from both a Chinese business perspective and government. This forum was part of the 20th China International Fair for Investment and Trade held in Xiamen City, Fujian province, China. The event was attended by provincial and city leaders from Xiamen and Fujian, as well the Ambassador to Beijing from Slovakia, the U.S. State Department, and an emissary from Egypt. – Brandon Hughes
Come and learn about China’s Belt & Road Initiative with YPIA and Brandon Hughes of FAO Global, a consulting firm specializing in helping US businesses expand into foreign markets such as China, Southeast Asia, Europe, and the Middle East.
On Tuesday, August 21, Malaysian president Mahathir Mohamad concluded his first visit in Beijing. During his 5-day visit, Mohamad re-negotiated with China for some $22 billion U.S. dollar infrastructure projects under the Belt and Road Initiative (also known as the One Belt One Road (OBOR) Initiative), in an effort to free Malaysia from their national debt crisis. Unlike his Beijing-friendly precursor, Mahathir is attempting to cancel two major China-backed infrastructure projects already in agreement with Beijing. – Weiting Li
According a studied released on August 14 by the China National Bureau of Statistics China’s economic growth slowed 5.5%. This rate is lower compared to the first seven months (January through July) of the previous year’s growth. Beijing tried to explain the slow growth by China transitioning from ““high-speed growth” to “high-quality growth,” which was promoted by high tech initiative as part of Beijing’s “Made in China 2025” industrial policy. – Ziqing Zhang
For our assessment on the global impacts on businesses, see our detailed summary and assessment here.
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On July 30, FAO Global attended the Indo-Pacific Forum held at the U.S. Chamber of Commerce in which U.S. Secretary of State, Mike Pompeo, announced that the United States will invest $113 million in the Indo-Pacific region to develop technology and infrastructure. This initiative likely intended to counter growing Chinese influence as part of the Belt and Road Initiative (BRI). – Ziqing Zhang
For a more detailed summary and our assessment, read more here.
China’s Belt & Road Initiative (BRI) is facing another challenge in Southeast Asia. On July 5, Myanmar announced it would be ceasing the continuation of billions of dollars of Chinese-sponsored projects. In the beginning of August, sources said that Myanmar was now scaling back on the Chinese-led Kyauk Pyu deep-water port project over cost concerns. – Weiting Li
The China-Pakistan Economic Corridor (CPEC) is a collection of various infrastructure projects started on November 13, 2016. It is a flagship program under the Belt and Road Initiative that provides Beijing, direct access to to Gulf of Oman and Arabian Sea. Recently, critics of CPEC (both inside and outside Pakistan) have voiced their concerns over energy and economy issues between the two countries. – Weiting Li
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