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Corporations/ Associations/ Others | Not Classified - China | PID: 188309
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President Xi Jinping has called for more countries to join China’s sprawling infrastructure-building initiative in the face of US opposition to a project Washington worries is increasing Beijing’s strategic influence.
Mr Xi spoke at a gathering of leaders to celebrate the multibillion-dollar Belt and Road Initiative, his signature foreign project.
The upbeat tone of the two-day forum, at which Russian President Vladimir Putin and other leaders praised the initiative, is a setback for the Trump administration, which is trying to discourage other countries from participating.
Mr Xi promised on Friday to promote high financial, environmental and other standards in response to complaints about debt and other problems.
That has the potential to heighten tensions with Washington by attracting more participants.
We need to encourage the full participation of more countries and companies,” the Chinese president said at the event at a government conference centre outside Beijing.
Mr Xi tried to dispel complaints Belt and Road does little for developing countries that have borrowed from Beijing to build ports, railways and other facilities.
Mr Xi said his government wants to “deliver benefits to all”.
Other governments welcomed the initiative launched in 2013 to increase trade by building ports, railways and other infrastructure across Asia, Africa and the Middle East.
But some are struggling to repay Chinese loans, which has fuelled complaints about a possible “debt trap”.
Critics also complain too much of the work goes to Chinese state-owned companies and the initiative might lead to corruption and environmental damage.
The United States, Russia, Japan and India worry Beijing is eroding their influence
| Updated on: 02 - May - 2019
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