Path: Sino-US >> Sino-US News>> Updates >>
Editorial: Joining China's 'Belt and Road' initiative is beneficial for US

Chinese President Xi Jinping and US President Donald Trump Photo: Reuters 

Beijing is holding the much-anticipated Belt and Road Forum for International Cooperation on May 14, which is attended by 29 heads of state and government leaders, representatives from more than 70 international organizations and more than 1,500 delegates from over 130 countries.

While the world's major economies are hit by recession and the populist sentiment is rising, the forum is aimed at strengthening international cooperation by enhancing infrastructure construction, promoting trade liberalization and deepening cultural and people-to-people exchanges.

So far, China's "Belt and Road" initiative has been widely recognized, with more than 100 countries showing support to the initiative and over 40 countries and international organizations signing the related cooperation agreements.

Clearing doubts over the participation of the US, Chinese Vice Finance Minister Zhu Guangyao on May 12 announced that "the US has realized the importance of the 'Belt and Road' initiative and will send its delegates to attend the summit". On the same day, White House spokesman Sean Spicer described the "Belt and Road" initiative as a great trade measure, which is important to port and infrastructure construction. Trade is a key area of concern in the China-US relationship, and what China is doing has great importance to the economic development and national security of the US.

Both Barack Obama and Donald Trump held a cautious attitude toward the "Belt and Road" initiative, as the two American leaders were suspicious of the motives behind the initiative, which is widely seen as a tool to enhance China's economic, political and military influence. They also wondered whether the initiative's environmental and social security standards can meet that of the US. What's more, they thought that the large-scale infrastructure construction in the countries along the Belt and Road would face political and financial risks.

Why the US made a U-turn to participate in the Belt and Road Forum? The answer is that the participation is in the economic and strategic interest of the US.

First, the infrastructure construction projects in the countries along the Belt and Road will bring huge economic benefits to the US companies, which have advantage in technology and industry standard. The US firms can also make investment in other sectors, which is advocated by the "Belt and Road" initiative.

Second, the US companies have rich experience in combating terrorism while building infrastructure in the Middle East, which can be used to reach the "Belt and Road" initiative's goal of eliminating poverty and terrorism by win-win international cooperation.

Third, the participation in the "Belt and Road" initiative can help maintain the US strategic interest in the region, as the countries along the Belt and Road have large desire for investment, infrastructure, energy and anti-terrorism. Meanwhile, China has repeatedly stressed that China and the US have a large space for cooperation under the "Belt and Road" initiative, which will be carried out under the principles of "wide consultation", "joint contribution" and "shared benefit".
 


Related Stories
Share this page
Touched Sympathetic Bored Angry Amused Sad Happy No comment

Editorial: Joining China's 'Belt and Road' initiative is beneficial for USUS, China agree to first trade steps under 100-day planUS to send delegation to China's Belt and Road summitYoung expats’ choices for China’s ‘modern Four Great Inventions’China opposes U.S. lawmakers' meeting with Dalai LamaCalifornia declares May 10 as Chinese Railroad Workers Memorial DaySenate committee approves Terry Branstad for US ambassador to ChinaOutcomers in Beijing's reconstruction, to leave, or to stay?Commonwealth Society in Beijing hosts charity gala to fund China’s needyWhat’s behind China’s Q1 growth rebound?#Caixin Weekly#
< Prev Next >