Chinese President Xi Jinping speaking at the opening of the Belt and Road Forum is displayed on a big screen as a waitress prepares a table at a dining areas of the forum's media center in Beijing, China, Sunday, May 14, 2017. C.
The broader worry for India is that the "Belt and Road" initiative involving hundreds of billions of dollars over the coming decades will cement China's dominance over Asia, including India's neighbourhood.
Wang also met with Peter Thomson, president of the UN General Assembly, and Nassir Abdulaziz Al-Nasser, high representative for the UN Alliance of Civilizations.Thomson said the Belt and Road Initiative demonstrates China's determination and capability to push forward mutually beneficial and win-win cooperation.
China will launch 100 "happy home" projects, 100 poverty alleviation projects and 100 health care and rehabilitation projects in countries along the Belt and Road.
Jörg Wuttke, outgoing president of the EU Chamber of Commerce in China, warned last week that the initiative has increasingly "been hijacked by Chinese companies, which have used it as an excuse to evade capital controls, smuggling money out of the country by disguising it as global investments and partnerships".
Belt and Road is seen as a practical solution to relieve China's industrial overcapacity.
"No country can accept a project that ignores its core concerns on sovereignty and territorial integrity", the statement said.
Addressing the forum after Xi, Russian President Vladimir Putin appeared to take aim at the United States, which is not involved in the OBOR initiative.
This puts the Republic in a good position to support the growing number of Chinese firms venturing along the "Belt and Road", said Minister for National Development Lawrence Wong.
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The two-day summit is expected to be attended by Russia's President Vladimir Putin, Turkey's President Recep Tayyip Erdogan and 26 other leaders.
China will set up 50 joint laboratories with countries participating in the Belt and Road initiative to enhance cooperation on innovation, he said.
Washington is being represented by a junior delegation led by Matt Pottinger, special assistant to the president and senior director for East Asia at the National Security Council.
India's worries over a 3,000 km long project connecting Pakistan's deep-water port Gwadar and China's Xinjiang stem from the fact Gwadar, which was taken over by the Chinese, will become a future naval base. The country's finance and defense minister Arun Jaitley told reporters this month Delhi has "serious reservations" about the project, particularly regarding China-funded development in Pakistan-administered Kashmir.
"The matter is under consideration", he said, a position the government has maintained since March when China extended an invitation.
In order to discuss China's vision and the impact as it is being felt on the ground, RUSI is delighted to host Tom Miller, author of the newly published "China's Asian Dream" and Shashank Joshi, who recently worked on a report looking at China and India's relations.
One of the reasons the world is so interested in the initiative is that it complements the need to grow global infrastructure, Heathcote said at the International Public-Private Partnerships Forum co-held by the United Nations Economic Commission for Europe and Hong Kong City University.
The "Maritime Road" will gain momentum in the coming years, as most of China's trade is carried by the shipping industry.
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