US, S Korea will send delegations to Belt and Road summit

Regolare Commento Stampare

People walk past the China National Convention Center, a venue of the upcoming Belt and Road Forum in Beijing, May 12, 2017.

"China hopes for constructive cooperation with the Eurasian Economic Union, harmonization of trade and investment cooperation", he said, adding that Russian Federation is seen as a major link between the Belt and Road initiative and the Eurasian Economic Union.

Vladimir Zinovsky said he believes that friendly relations between Belarus and China, the achieved level of comprehensive strategic partnership and mutually beneficial cooperation allow one to conclude that Belarus is one of the most important partners of China in implementing the project for building the economic belt of the Silk Road.

China claims that the OBOR is created to benefit the world, suggesting a certain degree of altruism, but some observers don't see the OBOR in such a positive light.

China will seek to build on its hosting of the G20 Summit in Hangzhou in September 2016, its "One-Belt, One-Road" initiative, and progress on launching the Asia infrastructure investment Bank to increase its global presence on worldwide economic issues, he told the lawmakers.

The PM is on a three-day visit to China.

The initiative refers to the Silk Road Economic Belt that links China with Europe through Central and Western Asia by inland routes, and the 21st Century Maritime Silk Road connecting China with Southeast Asia, Africa and Europe by sea. The Forum is aimed at promoting common development through win-win cooperation.

"Xi is now seen as a world leader with a lot of influence and respect internationally and that will definitely boost his domestic appeal", said Joseph Cheng, a long-time observer of Chinese politics now retired from the City University of Hong Kong.

Yu expressed hope that the project would contribute to enhancement of China-Nepal cooperation as well as to the economic development of the South Asia region itself. China is already expanding the Tibet railway to Nepal's border in Rasuwa Gadi, and plans to bring it down to India's border in Lumbini. He explains that "any country can join, anywhere", adding that the US hasn't joined the initiative.

Nepal signing the deal with China may cause concerns in India, which has opposed Beijing's initiative. "He's showing hope in their economic future by proposing a very significant economic plan", former US ambassador to China Max Baucus told The Associated Press. The first sign was when he let go of naming China a currency manipulator, finally admitting the country was no longer depressing the value of the yuan - though his timing on when that stopped is still wrong. While China says the New Silk Road is not political, it has run into opposition from India due to a section of it in Pakistan, known as the China-Pakistan Economic Corridor, where some projects run through the disputed Kashmir region.