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BRI Countries

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China has signed bilateral agreements with more than 100 countries along the Belt and Road Initiative (BRI). In addition, the corridors of the Belt and Road Initiative include countries, such as India, that have not signed an agreement to join the Belt and Road Initiative. In this section, we look at economies that are along the Belt and Road Initiative and describe potentials for green finance.

Since the beginning of 2020, China is engaging in a delicate balancing act: on the one hand, it is fighting the spread of the coronavirus (Covid-19) by limiting movement of people (e.g. suspension of many intercity bus services), minimizing congregations of people including the workplace (e.g. many cities are encouraging companies to offer home-office arrangements for its employees) and encouraging people to stay in their homes. International embassies have encouraged their citizens to leave China if no urgent business needs to be attended. At the same time it is fighting to keep the economic afloat, as these decisions come at potentially large economic costs for China and for its international economic partners, particularly the Belt and Road Initiative (BRI). International businesses have suspended much operations with China, such as airlines have cancelled or reduced flights (e.g. British Airways, Lufthansa, Delta Airlines), and companies have closed stores in China (e.g. Starbucks,…

This article was originally posted on the website of the top business school IMD. The Chinese New Year is off to an inauspicious start. The spread of the coronavirus has paralyzed large parts of the country and caused chaos on one of the most important dates in the Chinese calendar. The Chinese government has moved swiftly and strictly to contain the outbreak, but the ongoing crisis is a reminder of the interconnectedness of nations and further highlights that 2020 will be an important year for China and for China’s place in the world. As China – despite the disruption caused by the virus – celebrates the dawning of a new decade, many people are asking: what will the world’s second largest economy bring to – not to mention take from – the world in the coming months? Some trends are easier to predict than others. For example, it’s likely that…

This document has been translated by Yiwei Qi from its Chinese original. Iran, located on the new Eurasian land-bridge of the Silk Road Economic Belt as well as the China-Central Asia-West Asia Economic Corridor, is an important point along the “Belt and Road”. In January 2016, China and Iran formally established a comprehensive strategic partnership and signed “the Memorandum of Understanding on Jointly Promoting Construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road”. Based on the concept that “the future world belongs to Asia”, Iran put forward the policy of “Look to the East” to develop relations with China from a strategic perspective. In a Joint Statement on Comprehensive Strategic Partnership between the Islamic Republic of Iran and People’s Republic of China, the two countries stated they would enhance their bilateral and multilateral cooperation in areas such as fossil fuels as well as new and…

For a Chinese version, click here. On July 26, 2019, Kenya’s National Environmental tribunal ruled that the environmental and social impact assessment (ESIA) license for the Lamu coal fired power plant in Kenya was insufficient and that the construction had to be stopped. While this ruling explicitly states that this is not a legal case against coal-fired power plants, it nevertheless comes after 3 years of intense campaigning against what would be Kenya’s first coal-fired power plant: local NGOs and stakeholder groups organized under the deCOALonize umbrella and brought the legal case against the power plant’s consortium and the Kenyan government agency that issued the ESIA license in the first place. The Lamu 2 billion USD coal-fired power plant is built by Chinese enterprises, particularly two subsidiaries of PowerChina Group (Sichuan Electric Power and Design and Consulting, Sichuan No.3 Power Construction Company) and China Huadian Corporation Power Operation Company and…

South Africa is the 2nd largest economy in Africa and one of the African countries which have signed BRI cooperation agreements with China at an early stage. During Chinese President Xi’s visit in September 2018, both countries expressed wishes to strengthen cooperation within the framework of the BRI and the China-Africa Forum to synergize development strategies. [1] In fact, there exist many intersections for China-South Africa complementation and synergy, and South Africa is one of the African countries advocating the synergizing of the BRI in Africa. [2] As the signatory country of the Paris Agreement and an Africa’s economic powerhouse, South Africa has been at the forefront of renewable energy development in Africa. South Africa is rich in solar and wind energy potential and already has the largest installed renewable energy capacity in Africa (as of 2018) when including hydropower into renewable energy, which accounts for about 57% of renewable…

“He is my best and bosom friend. I cherish dearly our deep friendship”, said Chinese President Xi on about Russian President Vladimir Putin after China and Russia agreed to upgrade their relations to a “comprehensive strategic partnership of coordination for a new era” during the Annual St. Petersburg International Forum from June 6-8. Country Overview Russia with its capital Moscow is the largest country on earth with 17 million sq km and a population of 143 million (China, in comparison, covers about 9.6 million sq km and has 1.4 billion people). Since 2000, Vladimir Putin has been Russia’s dominant political figure (serving two terms as president, then four years as prime minister in 2008 to become president again in 2012). Russia’s economy is the 12th largest in the world. Russia’s exports depend 80% on oil, natural gas, metals and timber. The economy is forecast to grow by about 1-2% in…

Spain is located on the new Euroasian land bridge in the Silk Road Economic Belt. Although Spain has not yet officially assigned to the BRI cooperation, it has jointly released with China the Joint Statement on Strengthening Comprehensive Strategic Partnership during the visit of China’s President Xi in Nov 2018, in which it expressed its willingness to synergize the BRI with the European Infrastructure Guide Plan and the Euroasia Connectivity, while looking forward to regular dialogues and experience-sharing on promoting the usage of renewable energy and improving energy efficiency as the cornerstones to future sustainable development.[1] The resources and potential of renewable energy in Spain According to the International Renewable Energy Agency (IRENA), by the end of 2017, Spain’s installed renewable energy capacity is 47.98 GW. Among them, the capacity of wind power and hydropower are 22.99 GW and 20.03 GW, accounting for 47.9% and 41.7% respectively and in total…

On the surface, the global community agrees: We need sustainable development – for the benefit of all. However, in practice, the devil lies in the details – and in different priorities of nations and organizations in trying to achieve the triple bottom line: economic growth, social development, and ecological protection. Over the last 2 weeks, I was invited to contribute to three conferences in China on financing sustainable innovation. During these conferences, I experienced once again how Chinese and European colleagues agree on the surface about the need for sustainable development, but not in practice on the actions to take. These differences reflect the divergent needs and views of different nations, as well as the complexity of sustainability across the world. But with billions (RMB, EUR, USD, Yen,…) invested in the name of sustainable development, for example in the Chinese Belt and Road Initiative (BRI), I believe that these differences…

On March 24, Italy’s government, as the first government of a G7 country and the 11th government of the European Union, signed a Memorandum of Understanding (MoU) to strengthen relationships with China within its Belt and Road Initiative (BRI). As Italy is thus far the largest economy signing up for the Belt and Road Initiative, a lot of attention and scrutiny has been given to this signature. In this article we shed some light on the background of the deal, why critics of the MoU are possibly overstating their case, and about some factors that can support or undermine the success of the deal – and with it taint or polish the image of the Chinese-driven Belt and Road Initiative. Our findings say that the most important success factors are sustainable and green economic growth in line with Italy’s core economic interests – export and tourism while adding investment (not…