China pledges US$124 bil. for new Silk Road

Описание: 일대일로 포럼 개막...중국, 1천억 달러 이상 투자 약속
China's President Xi Jinping has pledged to invest 124 billion U.S. dollars into his new Silk Road plan.
Formally known as the Belt and Road Initiative, President Xi's ambitious plan aims to rebuild ports, roads and rail networks.
With more on this and other news in East Asia... we turn to Ro Aram...
Aram... this plan was first unveiled four years ago, but the timing of his major funding pledge comes amid U.S. President Donald Trump's protectionist policies....

That's right Jihye... "project of the century" is what President Xi called it as he hosted leaders of 29 countries at a forum on the initiative on Sunday.
Although, he did not give a timeframe for his 124 billion-dollar funding, he said the Belt and Road Initiative aims to forge a path of peace, inclusiveness and free trade.
President Trump is pushing his "America First" policies and has long criticized global trade deals.
President Xi, however, urged his global counterparts to build an open platform of cooperation and uphold and grow an open world economy, adding that trade is the important engine of economic development.
China's multi-billion dollar plan is intended to expand trade links between Asia, Africa, Europe and beyond, with massive investment in infrastructure along the way.
It would span at least 65 countries, including more than 60 percent of the world's population, and 30 percent of global GDP.
President Xi also reassured western nations that the project was not China's attempt to assert its global influence, saying it would benefit everyone.
But, some western countries, as well as some of China's neighbors, have expressed concern that Beijing might be using the new Silk Road to mask its geopolitical ambitions.

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