Silk Road Essay

928 WordsApr 22, 20154 Pages
4/21/2015 China backs up silk road ambitions with $62bn capital injection ­ FT.com April 20, 2015 3:12 pm China backs up silk road ambitions with $62bn capital injection Gabriel Wildau in Shanghai Author alerts  ©Getty President Xi Jinping is visiting Pakistan with promises of more than $45bn in infrastructure investment China will draw on its massive foreign exchange reserves to inject $62bn of capital into state­owned “policy banks” in support of its ambitious “New Silk Road” plans to build infrastructure links to foreign markets. Beijing’s “One Belt, One Road” strategy includes plans to build roads, railways, ports, natural gas pipelines and other infrastructure stretching into south and Southeast Asia, the Middle East, and throough Central Asia to Europe to create demand for China’s industrial exports in the face of overcapacity at home. China's $45bn investment in Pakistan Apr 21, 2015 - 0:50 am The recapitalisation plan revealed on Monday 7:33 shows China’s leaders are prepared to mobilise the country’s considerable financial resources to put the scheme into action and extend Chinese sway across Asia. It is likely to deepen unease in US business and foreign policy circles about diminishing US influence. China’s president is in Pakistan to announce an ambitious programme of infrastructure investment and military deals. Fiona Symon talks to Farhan Bokhari, FT correspondent in Islamabad, about what this means for Pakistan and the region. http://www.ft.com/intl/cms/s/0/0e73c028­e754­11e4­8e3f­00144feab7de.html#axzz3XuFptzxa 1/3 4/21/2015 China backs up silk road ambitions with $62bn capital injection ­ FT.com The details emerged as President Xi Jinping began a visit to Pakistan bearing promises of more than $45bn in infrastructure investment. It follows Beijing’s diplomatic success in securing the support of 50 countries

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