Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

US Shares India's Concerns on China's One Belt One Road Project, Questions Its Economic Basis: Official

The Belt and Road Initiative, a pet project of Chinese President Xi Jinping, focuses on improving connectivity and cooperation among Asian countries, Africa, China and Europe.

PTI

Updated:November 22, 2019, 4:43 PM IST
facebookTwitter Pocket whatsapp
US Shares India's Concerns on China's One Belt One Road Project, Questions Its Economic Basis: Official
File photo US Principal Deputy Assistant Secretary of State for South and Central Asia of Alice Wells. (AP)

Washington: The United States has extended its support to India's opposition to China's ambitious One Belt One Road (OBOR) initiative, saying it shares New Delhi's concern over the multi billion-dollar project while questioning the economic rationale behind it.

India is the only major country in the world to have opposed the OBOR project on the grounds of territorial sovereignty, given that its flagship project, the China-Pakistan Economic Corridor (CPEC), passes through Pakistan-occupied Kashmir, which India has always maintained is its territory.

The Belt and Road Initiative, a pet project of Chinese President Xi Jinping, focuses on improving connectivity and cooperation among Asian countries, Africa, China and Europe.

"India has been crystal clear from the outset they saw the geopolitical elements of the One Belt One Road," Principal Deputy Assistant Secretary of State for South and Central Asia Alice Wells said in response to a question at Woodrow Wilson International Centre for Scholars think tank. "We share India's concerns over projects that don't have any economic basis and that leads to country ceding sovereignty."

"Sri Lanka is not the only country that effectively ceded sovereignty over a key asset," she added.

Struggling with debts, Sri Lanka formally handed over the southern sea port of Hambantota to China in 2017 on a 99-year lease. Interestingly, Hambantota is the home town of the Rajapaksas.

Speaking on the construction of Gwadar port, Wells said, "It feeds into Indian anxiety because the commercial basis of the project is not clear."

"This has been a project very long in the making and not very evident to outsiders what's the economic rationale that drives it,' she said in response to a question.

"The OBOR was designed in part to be able to export excess labour, excess capital and excess production facilities," she said.

"So China was trying to solve one of its own domestic problems. It solved its domestic problems sometime at the expense of the receiving country," Wells said.

"There are over 95 state-owned enterprises, a part of this belt and road initiative and that have been engaged in infrastructure projects overseas," Wells said.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results