One Belt, One Road not 'by China, for China'

Singapore

PANELLISTS at the Singapore Regional Business Forum on Tuesday said that even though the One Belt, One Road (OBOR) development framework and setting up of the new Asian Infrastructure Investment Bank (AIIB) are often seen as China-driven initiatives for China's own benefit, this is not very true.

In fact, the Chinese government has been trying to promote both as regional platforms, and AIIB has already begun funding projects in neighbouring countries like Bangladesh and Pakistan.

The OBOR, first unveiled in 2013, is a key part of China's development strategy to deepen economic cooperation with countries in Asia, Europe and Africa. It has the potential to benefit some 60 countries with a population of 4.4 billion people along the economic belt, and much of the investments is likely to be in infrast…