Published: Tue, May 16, 2017
Worldwide | By Gretchen Simon

Chinese taxpayers have most to fear on Silk Road


The Havelian land port will serve as a transfer station where goods shipped from China can be loaded from trucks to trains after the planned China-Pakistan railway connecting Gwadar Port and Kashgar gets completed, Mahmood said.

"India's objection to the B&R is partly a show for domestic politics, partly to pile pressure on China. However, the absence of New Delhi in the B&R has not affected the forum in Beijing, and it will exert even less effect on the progress the initiative will make in the world", it said.

The Belt and Road Initiative "does not exclude or target any party", Xi told the summit where he spoke of the myriad challenges the world faces: sluggish trade and investment, wobbling economic globalization, increasingly uneven development, impact from the massive flow of refugees and migrants, as well as wars, conflicts and terrorism. Total trade between China and other Belt and Road countries exceeded 3 trillion US dollars between 2014 and 2016, and Chinese investment in these countries surpassed 50 billion dollars. Their stereotyped view of China continues to spread to the whole of Indian society, which may have destructive power. India's Ministry of External Affairs stood firm against the plan Saturday. "The border of the two countries has been peaceful in these years, the most important force for stable bilateral relations".

The ministry's comment came after the central government announced on Sunday that the country will offer assistance to developing countries and global organizations participating in the initiative to improve the well-being of people in those nations as well as sustainable growth.

"The Belt and Road Initiative fits well with Xi's vision of a community of shared future for mankind".

"Maintaining friendly ties conforms to the two countries' fundamental interests. For instance, New Delhi hopes Beijing will support the UN Security Council blacklist on the leader of the Army of Mohammed (JeM) a Pakistan-based military group, and support India's bid to join the Nuclear Suppliers Group", the state-run nationalistic tabloid Global Times said on Monday.

Oil Holds Advance as Saudis, Russia Favor Output Cut Extension
The two countries agreed Monday to lower their production levels for nine months longer than originally agreed, through March. The ministers back a plan to extend the current deal to remove 1.8 million barrels per day from the market until March 2018.

Referring to India-China differences over Beijing's opposition to New Delhi's admission into the Nuclear Suppliers Group (NSG) and United Nations listing of JeM leader Masood Azhar as a terrorist, it said, "Overall, these new problems are caused by India's requirements for China. What kind of a positive attitude the spokesman wants China to have?"

China also sought to ally India's fear of meddling in the Kashmir dispute through the planned road, saying the $46 billion project will not affect its position on the matter.

He said India will deprive itself of huge benefits if it stays out of the inter-continental, collaborative agenda mooted by China and endorsed by nearly the entire world.

The two-day event is the highest-level forum on the Belt and Road Initiative since the Chinese president first raised the concept in 2013.

It is an open initiative and welcomes various parties, Hua said.

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