China's 'One Belt, One Road' initiative is gaining traction
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WHILE still a confusing concept to some in the West, China's "One Belt, One Road" (OBOR) initiative - launched three years ago - is now gaining significant traction.
The ambitious project - effectively linking trade in around 60 Asian and European countries along a new Silk Road - is China's most important strategic initiative, and a crucial component of President Xi Jinping's foreign policy.
China has now signed project contracts worth US$926 billion with more than 60 countries along OBOR. A series of cross-border infrastructure projects are in construction, such as a new China-Laos railway, a highway in Pakistan and a port in Vietnam.
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