China and Nepal today said they would take forward plans to build a trans-Himalayan railway and economic corridor. This was decided at a meeting between the foreign ministers of the two countries. They also invited India to join the project.
Remote and impoverished, Pakistan’s Gwadar port at first glance seems an unlikely crown jewel in a multi-billion-dollar development project with China aimed at constructing a 21st century Silk Road.
In a reflection of how China’s leader Xi Jinping is personally pushing his pet One Belt, One Road (OBOR) global infrastructure initiative, the Communist Party of China (CPC) congress today passed an amendment to the party constitution to specifically mention the plan.
India is ramping up infrastructure spending to expedite development of highways connecting country’s North East with Mynamar and Thailand as it gears up to compete with the Dragon for access to these markets.
The China-Pakistan Friendship Highway runs over 1,300 kilometres (800 miles) from the far western Chinese city of Kashgar through the world’s highest mountain pass and across the border.
China has projected its One Belt One Road (OBOR) project as a global ideal that will spread economic benefits to less-developed countries.
China’s ‘One Belt One Road’ mega initiative could hit a roadblock, a Hyderabad-based think tank has claimed, arguing that the country may increasingly find it difficult to fund several infrastructure projects across continents owing to financial constraints at home arising from debts, shadow banking, Ponzi schemes and zombie companies.
In a move that could potentially counter China’s Belt and Road initiative, the United States revived two major infrastructure projects in South and Southeast Asia, the ‘New Silk Road’ project, and the Indo-Pacific Economic Corridor.
The US has revived two major infrastructure projects in South and Southeast Asia in which India would be a vital player, a move that could potentially act as a counter to China’s ambitious Belt and Road initiative.
Power Minister Piyush Goyal today endorsed the idea of providing electricity connection to consumers other than property owners like tenants and said it does not create any right over ownership.