Xi Jinping says belt and road plan isn’t about creating a ‘China club’
The remarks came after new Malaysian Prime Minister Mahathir Mohamad called off a major China-backed railway project last week
President Xi Jinping on Monday defended his new Silk Road plan, saying it was not about creating a “China club”, while calling for balanced trade with partner countries amid a growing backlash against his global infrastructure push.
Analysts said Xi’s remarks – made at a seminar in Beijing to mark the five-year anniversary of his signature “Belt and Road Initiative” – indicated that China was adjusting its tone and strategy to address rising concerns over its global ambitions and fears of “debt trap diplomacy”.
The comments came after new Malaysian Prime Minister Mahathir Mohamad called off a major China-backed railway project last week. The recent change in leadership in Pakistan could also see a potential pullback on agreements for the China-Pakistan Economic Corridor (CPEC), a flagship, multibillion-dollar belt and road project.
“The Belt and Road Initiative is an economic cooperation initiative, not a geopolitical or military alliance,” Xi said at the seminar. “It is an open and inclusive process, and not about creating exclusive circles or a China club.”
The strategy aims to build a sprawling trade and infrastructure network spanning Asia, Europe, Africa and Latin America. Over the last five years, China has invested more than US$60 billion in countries along the route, and trade volume between them has reached 5 trillion yuan (US$734.29 billion), Xi said, adding that more than 200,000 local jobs had been created in those countries.
Xi said the overall design of the plan had been finalised and Beijing now needed to fine-tune the details and build a comprehensive system to carry it out, with a focus on high-quality projects.
“We need to pay attention to providing fuel in snowy weather, prioritising the needs of the other party and implementing projects that will benefit the local people,” he said.