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Old Sunday, January 06, 2019
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SikanderAbbasi SikanderAbbasi is offline
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I would like to continue with China's BRI initiative

This initiative came into limelight when the present Chinese head of state visited Kazakhstan and expressed its willingness to connect Asian region with Europe for infrastructural development of developing countries and strengthening of their economies. Under the pretext, China is looking forward to spearheading the global economic system. It is important to observe here that those states which the initiative is encompassing are economically poor countries, i.e. Pakistan, Myanmar, Kyrgyzstan, and some of the Carribean countries. China has already taken Sri Lanka's Hambantota port and Kenya's Mombasa port after the countries' failure to return the debts taken from China. Challenges: The most patent challenge for this initiative is converting the global trade currency from dollar to Yuan, because in order for China to overtake the US as the largest economic country, it is indispensable for her to do so. The challenge for the US is to contain China's increasing economic influence in other countries which, to them, is debt-trap diplomacy to make less powerful countries insolvent.
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