Belt And Road Agreement With China

Victoria signed a Memorandum of Understanding with China on the Belt and Road initiative in 2018, which is likely to tear the Commonwealth apart as soon as the new laws are passed under negotiation with the Federal Labor Party. „We focus a lot on working closely with our trading partners.“ The COVID 19 pandemic has stopped working on some projects, while some have been eliminated; The focus was on projects that, prior to the pandemic, already had questionable economic viability. Many of the loans granted are located or are close to technical default, as many debtor countries that depend on the export of raw materials have seen their demand decline. Some debtor countries have begun to negotiate the deferral of due payments. [4] In particular, it is estimated that the African continent owes $145 billion, many of which are BIS projects, of which $8 billion expires in 2020. Many of the continent`s leaders are calling for debt relief, and The Economist predicts a wave of defaults on these loans. [4] Given that China imposes trade restrictions that threaten Australian exports of up to $20 billion, state opposition has questioned the benefits of the deal, but Mr. Andrews said he would not have reached the deal if he did not think it was in Victoria`s best interest. One of the Chinese bridgeheads in Europe is the port of Piraeus. In total, Chinese companies are expected to invest 350 million euros directly in port facilities and an additional 200 million euros in related projects such as hotels by 2026. [72] In Europe, China wants to continue to invest in Portugal with its deep-water port in Sines, but especially in Italy and the Adriatic logistics centre around Trieste. Venice, the historically European arrival point of the Maritime Silk Road, is now less and less commercial in importance due to the shallow depth or mud of its port.

[73] „In four years, we have more than tripled Victoria`s share of Chinese investment in Australia and almost doubled our exports to China. We have said that we are restarting our relationship with China and that we are going to finish it. As part of its Silk Road strategy, China is involved in the construction and operation of railways, roads, airports and industry in much of Africa. In several countries, such as Zambia, Ethiopia and Ghana, dams have been built with the help of China. In Nairobi, China is funding the construction of Africa`s tallest building, the Pinnacle Towers. China`s $60 billion investment in Africa, announced in September 2018, will create opportunities and encourage the local economy and provide African raw materials to China. [71] Q-A with Aysun Bademsoy, Director of „Traces – The Victim of the NSU“ – Birmingham, Warwickshire Others disagree. French President Emmanuel Macron called for caution and proposed, during a trip to China in 2018, that the BIS could make partner countries „vassal states.“ Other skeptics associate the BIS with climate change. The Institute of International Finance, a research group that analyzes risks for major Western banks, reported that 85% of BIS projects can be associated with high greenhouse gas emissions. Others argue that China is using BIS funds to gain influence in Balkan countries that are about to become EU members, giving China access to the heart of the European Union`s common market. However, as Russia`s relations with the West have deteriorated, President Vladimir Putin has promised to link his Eurasian vision to the BIS.

Some experts are skeptical of such an alliance, which they say would be economically asymmetrical.

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