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Some 130 leaders from Africa, South America, and other emerging markets are gathering in China. Africa has a fair representation at the event. Denis Sassou N’guesso of The Congo, Ethiopia’s Abiy Ahmed, and Nigeria’s Kashim Shettima, etc have arrived in Beijing to take part in the event.
The 10th anniversary of the Belt and Road Initiative (BRI) is being held in Beijing, to commemorate the event, which the Chinese believe can connect the world in a more meaningful manner, by promoting trade and the quick movement of goods. Some 130 leaders from Africa, South America, and other emerging markets are gathering in China. Africa has a fair representation at the event. Denis Sassou N’guesso of The Congo, Ethiopia’s Abiy Ahmed, and Nigeria’s Kashim Shettima, etc have arrived in Beijing to take part in the event.
Other countries, whose heads of state already arrived include Sri Lankan President Ranil Wickremesinghe, Papua New Guinean Prime Minister James Marape, Cambodian Prime Minister Hun Manet, Chilean President Gabriel Boric, and Hungarian Prime Minister Viktor Orbán. A number of other heads of state are expected to arrive at the summit to be kicked off today (17th October). It is the third Belt and Road Forum for international cooperation.
Under the BRI, a project that took shape under President Xi Jinping, Chinese companies have built infrastructures including ports, roads, and power plants across continents in a bid to boost trade and economic growth. Undeniably, the project has lost some steam ostensibly due to the tumultuous happenings; the most important among them being COVID-19. That has sapped Beijing both financially and strategically, burdened by loss of lives and other disruptions. Beijing, many perceive, has gradually lost its risk-taking appetite as the domestic economy struggled.
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There are reports that the celebration of the 10th anniversary of BRI is to signal to the world that China is continuing with the project in the same vigor as the project was conceived and implemented in the first few years of its execution. There seems to be an apparent slowdown in the implementation of the project. Whether it would pick up momentum in the coming days is a trillion-dollar question, although that is important for the Chinese to continue with their hegemony.
