Letters: Chinese display

China believes building network of economic corridors will facilitate cultural exchanges

Image
Business Standard
Last Updated : May 15 2017 | 11:01 PM IST
The One Belt One Road (OBOR) initiative is an ambitious project ostensibly for achieving what Chinese President Xi Jinping has termed “sustainable globalisation”. He casts himself as a champion of global free trade at a time when the US and parts of Europe are closing down their economic borders and becoming protectionist. Even though Beijing claims OBOR is aimed at putting “geo-economics” above “geo-politics”, it is an announcement of China’s growing geo-political clout and a display of soft power. Such is the scale of the project that it will link Asia, Africa and Europe and touch the lives of almost 65 per cent of the world’s population.

China believes building a network of trade routes and economic corridors will facilitate cultural exchanges and reshape the world. On the positive side, the connectivity project will establish that “geographical dispersion” is not insurmountable. India was not persuaded of the project’s merits and skipped the Belt and Road Forum. In fact, it objected to the project on several grounds from not meeting international norms, the China-Pakistan Economic Corridor (CPEC) passing through disputed territory and the prospect of leaving partner countries with debt burdens to suffering from a lack of transparency. New Delhi went so far as to call it “neo-colonialism by stealth” and a ploy to lure less powerful nations into its economic orbit and enhance its strategic heft. 

Whether India could have decided against isolating itself from the 70 participating countries is a matter for debate. But Beijing needs to be cautioned that the project doesn’t damage the environment.

G David Milton Maruthancode
Letters can be mailed, faxed or e-mailed to: 
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg 
New Delhi 110 002 
Fax: (011) 23720201 E-mail: letters@bsmail.in
All letters must have a postal address and telephone number

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Next Story