China's Great Belt and Road Economic Initiative

Last month, we told you about the highs and lows of the China-Pakistan Economic Corridor. Today, we're zooming out to profile the entire Chinese global infrastructure development plan known as the Belt and Road Initiative.

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[fikkie]

2:09 did someone accidentally pull out a usb or something?

[brunobeloff]

I have seen Belt and Road projects for myself in Kenya, Ethiopia and Senegal. In comparison with IMF projects of years gone by, these have real financial discipline. Gone are the days when IMF money would simply be converted into debt without ever becoming infrastructure. Now, if you can't pay for your railway, China will take ownership back. That threat (together with Chinese project management) focuses the mind. That means that the railways get built, and people's lives get better.

[kenunderwood]

7:55 Britain didn't "lease" HK from China. It was practically taken at gunpoint.

[zupermaus]

One major reason the Arab Spring rose so quickly in Egypt was the selling of much of the Nile land (the only fertile area feeding 80 million people in the world's driest country) to multinationals -who then leased it back to the farmers at up to 2, 700% price hikes.

[TMHYAH]

I clearly remember when they announced this. American were laughing like crazy.
The Media had a field day at that time, but who is laughing now? I guess America couldn't imagine that something like that was possible.

[Citizen-of-theworld]

A $1 trillion dollar project spanning 36 years connecting China to the whole world vs. Half the budget of the Cares Act which propped up the US ticking along (mostly) for 4 months....
I think China gets better value for money here

[debl]

This is an open initiative. No one forced anyone at gunpoint to join.

[youngzo]

To quote Theodore Roosevelt:
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”
Criticism is cheap. Anybody can criticize. Creating something of value is significantly more difficult. I’d think twice before insulting somebody on something you haven’t attempted to do yourself.

[secgo]

Imagine USA spend their trillions in their economy instead of Military.

[lvjinbin]

I'm CCP member so I tell you my answer.
1.Developed countries' economy collapsed due to American Financial crisis 2008, it effected Chinese export a lot so CCP built so much infrastructure to digest excess industrial products domestically, like China built 70% high speed railway just in 10 years, it also reminds China that developed world's purchasing power is shrinking and China shouldn't just rely on USA too much.
2.Chinese coastal areas are rich like Eastern Europe but it's still very third world in Western area like Xinjiang, Gansu, Yunnan, Tibet etc, so China needs to make port inland to open trade for the poor province, it will balance wealth gap between East China and West China.
2.As Obama's Pivot to Asia policy to contain China, China realized China is too big for USA hegemony so China need to break through USA containment in malacca strait controled by US navy, that's why China spent heavily in so-called String of Pearls made India afraid, actually China never regarded India is threat maybe India is so pissed off for China doesn't regard India as threat.
4.Chinese said "if you want to get rich build a road first", China built port and road for closed countries so China can sell to them and buy from them, if there's no resource can buy then China will just move low-end manufacturing there, once they get rich then China can get more profit, it's kinda like USA Marshall Plan in Europe and Japan's ODA in Indochina, Chinese loan is lower rate than IMF WORLDBANK so those poor countries can't get loans from IMF because usually IMF won't lend money if poor countries can't pay, then they will look for Chinese loans and make Chinese Yuan more global.
5.To unite Eurosia and make ancient China revived again by new silk road.

[ignitionfrn]

1:35 - Chapter 1 - China Belt & road initiative
3:00 - Chapter 2 - Background
4:50 - Chapter 3 - The silk road economic belt
6:10 - Chapter 4 - The maritime silk road
7:55 - Chapter 5 - Projects
11:10 - Chapter 6 - Show me the money
14:00 - Chapter 7 - The future
- Chapter 8 -

[Cannon]

To developing countries, the belt and road initiative present interesting opportunities to grow their economy. The entire world saw how China was able to rapidly grow its economy by investing in infrastructure and manufacturing. The developing counties also want to do the same thing as China, which is why many signed up to this project, and this project is their best bet. Loans from western governments often include a lot of austerity measures, while loans from China just need you pay P&I. Unless the West is able to offer something better for these countries, it will be hard to stop this project, as you cannot stop countries from trying to better themselves.

[cheekyj]

"Countries have done this in the past" I'm currently laughing in British, lol

[kessa]

Oh so suddenly the immense focus of the West on "human rights abuses" in Xinjiang makes soooo much sense

[stevenzhang]

After reading some comments below, I finally understand the difference of thinking between Chinese and some people.

Chinese prefer to consider the benefit in a long term. If we can finally benefit from a project, we would like to try it although we may have to pay too much in the beginning. Actually, nobody can become a developed country if you pay nothing. Even those developed countries, their ancestors also spent hundreds years on the project of being advanced.

[tylerbuman]

Please do one about the Titan 1 underground missile bases. I was absolutely blown away by their size and complexity when I first learned about them. A true megaproject!

[paulsunday]

I like your objectivity, you don't sound anti-china. You say it as it is and allow people form their opinions.. Keep it up

[kentucky_official]

Can you do Boeing's super factory in Everett Washington, USA. Its so big it can form its own weather and can fit Disney Worlds magic Kingdom.

[Hamsters]

2:00 "wait for it. a trillion dollars" What's a trillion dollars? The US just printed trillions of dollar and handed it out to the corporations under the guises of stimulus but was just pumped into the share market. Benefiting only the richest few people. This project involves 3 continents and so many countries and over 2 billion people.

[felixcsao]

Im from Azerbaijan and Im proud that my country is a part of this biggest mega project in the history of mankind ☺️