BRI is China's strategy to become a world power. This world infrastructure development policy, China that seeks to connect Asia with Africa and Europe via land and maritime networks with the aim of improving regional integration, increasing trade and stimulating economic growth. But The BRI supports authoritarian rule. Many corrupt cases in the BRI involve Chinese dealmakers and authoritarian leaders seeking to advance authoritarian rule.
Currently, 150 countries are participating in BRI. Nepal is also a member. After the success of BRI, 40 percent of the world's domestic production will go into China's grip. China will influence 65 percent of the population. 75 percent of China's economy will run on oil and fuel. In the world's biggest projects, China will continue to dominate.
BRI has widened the 8,000 km long Silk Road, which is considered to be the old commercial lifeline centered on South Asia, China.
In 2013, Xi Jinping, with the dream of becoming a world leader, went to China and Indonesia and put forward his idea. To make this policy successful, President Xi Jinping introduced an economic policy in 2014 and amended the constitution in 2018. Asia Infrastructure Bank and Silk Road Fund have also been set up to invest in BRI. BRI has increased investment in big projects like airports, hydro, ports, roads, railways, industries. Rich countries like Singapore and Poland have also joined the BRI.
Acording to official information, in March 2022, 146 countries and 32 international organizations had signed cooperation agreements for the BRI. others respective country or organization sign a Memorandum of Understanding (MoU).
The Belt and Road Initiative (BRI) constains the following six international economic corridors.
- China-Mongolia-Russia Economic Corridor. ...
- New Eurasian Land Bridge. ...
- China-Central Asia-West Asia Economic Corridor. ...
- China-Indochina Peninsula Economic Corridor. ...
- China-Pakistan Economic Corridor.
Black Sea, joins Turkey. Connects sea traffic through Singapore. Promotes Trans Himalayan Network. Makes Nepal a landlink from landlock.
Wherever there is an American presence in the world, there is a military camp. BRI plans to cover all those areas and expand its influence. Even though BRI looks like a development plan, it is a plan to gain power and make the world crave for a dragon.
Nepal has taken membership. When Pokhara International Airport was inaugurated on January 1, 2023, Chinese Acting Ambassador Wang Xin suddenly said that this plan is under BRI. While Nepal made this project with a loan of 217 million dollars from Exim Bank of China.
The construction of Gautam Buddha International Airport was completed on May 16, 2022, with China as the contractor. But since China is the contractor for both these airports, India did not give air route. Because of this, it has been speculated that Nepal will not be able to pay China's debt.
BRI is the most expensive project in the world
First, China is investing trillions of dollars in OVOR and its modified form, BRI. This investment seems more attractive. When it is slightly lower, the poison inside the ball must lose its sovereignty. Before there was the World Bank, the IMF, they used to put a lot of conditions. Now China has BRI, the conditions are few but it won't take long. Due to anarchy, corruption, commissions, there is a greater danger of drowning the country with BRI's debt.
If the strategy of BRI is not understood, it will change the geopolitical scenario of the world after a few years.
China says - BRI is a win-win project. China's BRI can be a good plan if there is political stability and timely completion of the plan. China has adopted a similar policy of seizure through BRI, just like a bank gives loans with collateral and seizes the collateral when it cannot be paid. The growing world tension, instability in every country, corruption and lack of principle, power struggle are favorable for China's BRI policy.
Therefore, although BRI is attractive and easy to see, there is also a dark and scary side of the coin.
The other side of the coin –
1. Hammantota Port in Sri Lanka
China has given a loan of $307 million under BRI for the construction of Sri Lanka's Hammantota port. While giving the loan, China made a condition that China would provide all the construction companies, workers, and materials. Due to these conditions, the project was not completed on time. By the time the project was completed, the loan had grown from millions to billions.
Sri Lanka has fallen into a debt trap. Couldn't pay.
Finally, Sri Lanka let China operate the Hammantota port for 99 years. This port became the Chinese empire within Sri Lanka.
Saddled with predatory Chinese loans, Sri Lanka granted China a 99-year lease and 70% stake in its deep-water port also.