Agreements about 64 billion for China mega-project

On the summit on the "New silk road" in Beijing are agreements about 64 billion US dollars have been signed. According to the international critique of large-scale Chinese Initiative for the Expansion of trade because of state announced - and party chief Xi Jinping on Saturday of a slight realignment.

China's government will continue to set the direction, but companies should act as the "key players" and funding was more widely distributed. Projects should be market-oriented. Beijing search by more cooperation with international institutions, said the President at the conclusion of the two-day meeting with representatives from more than 150 countries.

the "New silk road" to billion investment in roads, Railways, ports and other infrastructure for new trade corridors to Europe, Africa, and Latin America and in Asia.

Lafarge warns of debt trap

critics warn just poor countries a debt trap and political dependence on Beijing. Is also criticised that there is often only Chinese companies. The Head of the International monetary Fund (IMF), Christine Lagarde, said, "the fact that infrastructure investments can lead to a problematic increase in the debt, if not managed carefully".

The "Belt and Road" Initiative could benefit from more transparency, competitive tendering, and better Risk assessment, said Lagarde at the Meeting. You could enter a "new Phase". Investments should be sustainable and also with climate protection targets in line. At the peak of the 38 heads of state and government had taken part in the heads, including the Federal President Ueli Maurer. Maurer defended the controversial project before the start of the summit in an Interview with the "Neue Zürcher Zeitung". The billions of investment in infrastructure around the globe managed to work and security, he told the newspaper.

Italy's Prime Minister, Giuseppe Conte, his Greek colleague, Mr Alexis Tsipras, Federal Chancellor of Austria, Sebastian Kurz, the German economy Minister Peter Altmaier as well as the heads of state and government of the Southeast Asian community, Asean took part. The United States and India had sent no representatives. (sda/red)

Created: 27.04.2019, 14:42 PM