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China Backs Belt And Road Initiative as Ideal Growth Model – AP

Analysts have credited the development programme with directing much needed funding to poor countries but say that it has come at a cost


The Sinamalé Bridge in the Maldives, built by China as part of the Belt and Road scheme, connects the capital Malé with Hulhumalé and Hulhulé. Photo: People's Daily.
The Sinamalé Bridge in the Maldives, built by China as part of the Belt and Road scheme, connects the capital Malé with Hulhumalé and Hulhulé. Photo: People's Daily

 

China has doubled down on its under-fire Belt and Road Initiative, arguing its controversial investment programme is a positive model for international economic development, the Associated Press reported.

A new government report praises the initiative, which has seen the construction of ports, power plants, railroads and other projects around the world, while glossing over criticism that it has saddled poor countries with too much debt, the AP report went on.

Li Kexin, the Foreign Ministry’s director for international economics affairs, told reporters in Beijing that Belt and Road had transcended the “old mindset of geopolitical games” and had created a “new paradigm of international cooperation”.

Read the full story: AP News

 

  • By Sean O’Meara

 

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.