'Pakistan, China to decide any country's CPEC membership'

16 May, 2017, 09:12 | Author: Alicia Barber
  • 'Pakistan, China to decide any country's CPEC membership'

Tanaka Chitsa CorrespondentGLOBAL leaders will meet in mid-May to discuss a new Chinese-led initiative to develop a seamless infrastructure network connecting Asia, Europe and Africa.

Thus, on May 13, India did not send an official delegation to attend the "Belt and Road Forum" in Beijing and instead criticised China's global initiative, warning of an "unsustainable debt burden" for countries involved.

Mr. Xi pledged a massive funding boost to the new Silk Road, including an extra 100 billion yuan ($14.50 billion) into the existing Silk Road Fund, 380 billion yuan in loans from two policy banks and 60 billion yuan in aid to developing countries and global institutions in new Silk Road countries.

Guests including Russia's President Vladimir Putin and Turkey's President Tayyip Erdogan were greeted by Xi and his wife, Peng Liyuan, and posed for a group photo before dinner and a gala performance.

The China Development Bank has earmarked US$890 billion for some 900 projects.

Through focus on connectivity of infrastructure including roads, rail links, sea routes, ports, and connectivity of policy, trade and finance, we are observing a phenomenon which has few historical parallels.

The Belt of Road Initiative will greatly contribute to open trade, key to economic prosperity, which will stimulate growth and peace, and which will lead to a win-win situation for all, Mahmood said.

Still, since Mr Trump's election, the United States, which has previously not got involved in most of China's economic initiatives, has changed its stand in an attempt to help American companies win business overseas.

According to Chinese government officials, at least 28 Heads of State and Government from around the world, including the presidents of Ethiopia and Kenya, are expected to attend the two-day forum in Beijing.

Pressure mounts on David Moyes after latest defeat to Swansea — Sunderland
But this was the situation two weeks ago and it was always going to be hard what reaction to give the supporters after the game. Sunderland felt they should have had a penalty when Sebastian Larsson's free-kick appeared to be blocked by Sigurdsson's hand.

Mahbubur Rashid, a senior journalist of The Financial Express, Bangladesh's well-known English financial daily newspaper, said the Belt and Road Initiative will help the developing countries.

Howard predicts nations on the outside looking in, will join China's ambitious project.

"Spanning thousands of miles and years, the ancient silk routes embody the spirit of peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit", Xi said.

Chinese officials insist the initiative is purely commercial, but foreign diplomats and political analysts also see an effort by Beijing to promote its own vision of trade and security arrangements and reduce the USA presence in Asia.

He added that the initiative would open up Rwanda to the world more than ever before.

The chairman of the Chinese shipping conglomerate Cosco Xu Lirong told Reuters on the sidelines of the forum that the state-owned conglomerate will sign a deal today with Kazakhstan's national railway company to take a 24 per cent stake in a dry port in the Khorgos Eastern Gates special economic zone.

He also pledged $8bn in aid to developing countries and global organization along the belt and road for education and humanitarian work.

China is reportedly establishing some military bases in Gilgit-Baltistan, a territory whose sovereignty is disputed, said the founder of the Gilgit-Baltistan Thinkers Forum, Wajahat Khan.

While opening the two-day Summit, Chinese President Xi Jinping said "all countries should respect sovereignty" and Pakistani Prime Minister Nawaz Sharif said CPEC had no "geographical boundaries".


  • Win keeps finals hopes alive for Kings XI

    But, things could not have got any worse for the visitors, who lost the wicket of Guptill in the first ball of the match . The team is set to clash with Kolkata Knight Riders on 13th May at Eden Gardens stadium situated in Kolkata, West Bengal.
    Why I cried when Barcelona did not cancel my transfer - Suarez

    Why I cried when Barcelona did not cancel my transfer - Suarez

    Real and Barca are now level on points at the summit of the log, but the Catalan giants are top of the pile due to a better head-to-head record.
    Mustafi says Champions League still in Gunners' sights

    Mustafi says Champions League still in Gunners' sights

    Liverpool travel to West Ham United tomorrow afternoon before ending the season at Anfield against relegated Middlesbrough next weekend.
  • Paul: U.S. Needs China to Exert More Pressure on North Korea

    Paul: U.S. Needs China to Exert More Pressure on North Korea

    Despite these warnings from the U.S., North Korean officials have not shown any signs of stepping back from their nuclear tests. North Korea's latest missile test on Sunday failed a few seconds after launch.
    Russian government releases photos of Oval Office meeting

    Russian government releases photos of Oval Office meeting

    Many are speculating the sacking was linked to the FBI investigations into Trump's links with Russian Federation . He's also publicly said that he was looking forward to beginning a dialogue with Trump and his administration.
    Chelsea FC's Cesc Fabregas sets Premier League assists record

    Chelsea FC's Cesc Fabregas sets Premier League assists record

    The hard work is just about to start for Antonio Conte . "Now we are very close but we need to take another step". Cahill, 31, insisted that there was no complacency: "It's going to be a tough game at West Brom , it always is".
  • Wizards Fall to Celtics in Game 5 of Semifinals

    Meanwhile, Thomas, who scored eight straight points in the fourth quarter said: "I guess that's how I've got to play". Isaiah Thomas is averaging 24.9 points and 5.9 assists while Al Horford is averaging 15.8 points and 7.7 rebounds.
    Astros-Yankees game postponed; doubleheader on Sunday

    Astros-Yankees game postponed; doubleheader on Sunday

    OUR PREDICTION: The Astros have won six of their last eight games in NY and have been profitable for bettors when Fiers starts. Tanaka is 5-0 with a 2.78 ERA in his last five starts after allowing three runs and 10 hits over seven innings on Monday.
    Rapper Travis Scott arrested in northwest Arkansas

    Rapper Travis Scott arrested in northwest Arkansas

    He will have to return to Arkansas at some point to plead on the charges, police said, but no court date was immediately provided. Rapper Travis Scott was arrested May 13 after he performed in Rogers at the Walmart Arkansas Music Pavilion (AMP).
  • Autopsy results show slain police chief killed exiting car

    Autopsy results show slain police chief killed exiting car

    The Columbus Dispatch profiled Hartless , painting a picture of a man who was violent with any woman he came into contact with. John Kasich ordered flags flown at half-staff in Licking County and the Statehouse and expressed his condolences in a tweet .
    Jadhav row: ICJ directs Pakistan to participate in case filed by India

    Jadhav row: ICJ directs Pakistan to participate in case filed by India

    This means Pakistan might not be able to invoke the bilateral treaty before the ICJ. Pakistan has denied consular access to Jadhav on 16 occasions.

    China to invest $800 bn in Belt & Road in five years

    Presidents Vladimir Putin of Russian Federation and Recep Tayyip Erdogan of Turkey also spoke at the opening ceremony. Such a broad sweep and scale of interlocking economic partnerships and investments is unprecedented in history.


Celtics seek top pick, Lakers aim to keep theirs in lottery
But not only would the Lakers hang on to their 2017 pick if that happens, they'd also keep their 2019 pick . They had the 3rd best odds at the number one pick , but they were not guaranteed the 3rd spot.

SCOTUS rejects appeal over NC voter ID law
He noted that although the court declined to hear the case, the refusal expresses no opinion about the merits of the issue. Pat McCrory sought Supreme Court review of the 4th Circuit's decision, but in February newly installed Democratic Gov.

WHO Confirms Second Ebola Case in Congo Outbreak
The UN agency says the first case occurred April 22 in a male some 870 miles (1,400 kilometres) from the capital, Kinshasa. The disease had ravaged Liberia, Guinea and Sierra Leone, and was only recently contained in these countries.

Sean Spicer, President Trump's press secretary, 'hid among bushes' to avoid journalists
The interview on Fox comes after a week of intense scrutiny of Trump following his unexpected dismissal of Comey. Spicer shouted. "That's why I put them out". "Everybody's convinced: They say there is no collusion", Trump said.

World's biggest cyberattack hits 150 countries and the threat is 'escalating'
Investigators are working to track down those responsible for the ransomware used on Friday, known as Wanna Decryptor or WannaCry. The malware spread quickly on Friday, with medical staff in the United Kingdom reportedly seeing computers go down "one by one".