Chinese President Xi Jinping calls it the project of the century. China’s sprawling belt
and road initiative, sometimes called the New Silk Road. Measured in today’s dollars
it has already cost more than the US Marshal
Plan that rebuilt Europe after World War II. The World Bank estimates
that some $575 billion worth of energy plants, railways, roads, ports, and other projects have been built or are in the works. With 130 nations signing
deals or expressing interest from power plants in Pakistan
to a high speed rail line in Indonesia it’s one
of the most ambitious intercontinental infrastructure
projects in human history. The stakes for the belt and
road project are astronomical. Both monetarily as Morgan
Stanley estimates spending will total $1.3 trillion by 2027. And for China’s global
image on the world stage. China would like to make a
deal much more than I would. As President Donald Trump scales back US involvement in
international trade agreements Xi is using the belt and
road to position himself as the champion of global
cooperation, development, and free trade. But the project is not
without its critics. There are accusations that
China is luring poorer countries into debt traps for its own political and strategic gain. With some countries even
downsizing or completely canceling projects even as
new deals are being signed. Several countries have had
to rethink their involvement. Often after popular backlash
or change of government, or both. For example Sri Lanka
borrowed $8 billion to build a new port, couldn’t repay the loans, and then gave a
state-owned Chinese company a 99 year lease in
exchange for debt relief. The port has little business
now but provides China a strategic berth along
key shipping lanes. Myanmar also drastically
scaled back a port deal struck under its previous military regime. Originally to $7.5 billion
reduced to just $1.3 billion. China would like to get
somewhat of a roll back. The Trump administration has sought to capitalize on the doubts with
Vice President Mike Pence telling southeast Asian
nations the US would not offer a constricting belt or a one way road. In the face of criticism
President Xi is doing damage control. Calling the project a road for peace. In 2018 the initiative
extended into South America, the Caribbean, and even the Arctic. In 2019 Italy became the
first group of seven nation to sign up, brushing off
warnings from both American and European allies. In Asia these are the
countries that approve of the belt and road project. These are cautious, and these are opposed. Overall the World Bank
says the revived silk road has the potential to
stimulate economic growth. But with that growth comes challenges. Some of the risks include
allegations of corruption like those the Kyrgyzstan
Prime Minister is facing and potential for environmental damage. Which prompted a Kenyan
court to order a halt to a power plant being built on Lamu Island, a major tourist destination. Xi, who is dealing with
China’s own debt problems and slowing economic growth
has promised debt relief to some African nations. And a top Chinese regulator
called for greater social responsibility
in overseas investments. That’s the kind of sensitivity
China will need to show and follow through on if it’s
to win over their skeptics.

China’s Giant Construction Project
Tagged on:                                             

100 thoughts on “China’s Giant Construction Project

  • December 28, 2019 at 1:29 am
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    China actually lets some countries out of their debt.

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  • December 28, 2019 at 1:54 am
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    freedom! freedom! freedom! said by Trump

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  • December 28, 2019 at 2:04 am
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    Brilliant

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  • December 28, 2019 at 2:12 am
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    BRI is better than using prison labors eh Bloomberg?

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  • December 28, 2019 at 5:00 am
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    Hahahaha, there are critics who hate the fact that China is doing something by building and the others are destroying!

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  • December 28, 2019 at 5:45 am
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    Yes We are cautious
    but we need the money to build our country.
    🇧🇩

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  • December 28, 2019 at 5:54 am
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    Trump's childish anti-globalism policies are empowering China at an unprecedented rate, and meanwhile, all Trumptards care about is if they could "own the libs".😂😂 Americans, be ready to live a Marxist-Leninist-Maoist life, because Donald Trump will go down in history as the president who disabled the western civilization, and when world war 3/ the second Cold War happens, the outcome will be hugely different.

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  • December 28, 2019 at 5:56 am
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    Meanwhile, America clunks around on rails , bridges, and roads built in the 50s. It's pitiful.

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  • December 28, 2019 at 6:37 am
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    it's big

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  • December 28, 2019 at 7:10 am
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    Only Korea and India are opposed. Japan is just cautious?? More like they don't want to be seen as someone who is opposed.

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  • December 28, 2019 at 7:17 am
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    WARNING. THIS COMMENTS SECTION HAS BEEN FLOODED WITH WUMAOS (PEOPLE PAYED 50¢ TO SPREAD CCP PROPAGANDA)

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  • December 28, 2019 at 7:28 am
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    Bloomberg forgets what white people did to native indians and black people, still they do not compensate for their sins

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  • December 28, 2019 at 7:34 am
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    China builds
    US bombs

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  • December 28, 2019 at 8:25 am
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    Trump is pro business and opposes wars so is Xi jimpig they've got a lot in common. A strong and prosper US will benefit China, I don't know about the other way around. Why can't they put their egos aside and work together?

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  • December 28, 2019 at 8:41 am
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    BBC? CNN? lol

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  • December 28, 2019 at 9:33 am
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    At least China is not out inciting wars and then selling arms to countries so that they can kill one another. China is out to help other nations by constructing crucial trade infrastructures that allows other countries access to their produce and, in the process, feed its own population of 1.4 Billion people. That is two way trade among connected countries.

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  • December 28, 2019 at 9:44 am
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    When US bombs and invades other countries, "its bringing peace and democracy to poor 3rd world countries." When China does trade with other countries, "its a trap!" 😂

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  • December 28, 2019 at 9:50 am
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    DEBT TRAPS !!!!! CHINA NOW OWNS YOU AND YOUR LAND !!! THEY CAN AND WILL BUILD THIER MILITARY PORTS IN THESE COUNTRIES ! YOU HAVE NO SAY !!! IDIOT AND CORRUPT GOVERNMENT OFFICIALS SELLING OUT THIER CITEZENS !!!!

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  • December 28, 2019 at 10:54 am
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    It is hard for trump to accuse China debt trap when each breathing American owe U.S$60,000 in national debt, that is the debt trap.

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  • December 28, 2019 at 11:39 am
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    Where do you the other viewers come from?

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  • December 28, 2019 at 11:42 am
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    Ha, Sri Lanka never planned to pay it back. It has no problem leasing that port to China. It is just secretly aligning with China without getting threatened by US. These smaller countries are smart and know how to play on two teams.

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  • December 28, 2019 at 11:53 am
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    USA spend to much money for war not they people and basic building!

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  • December 28, 2019 at 12:45 pm
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    Map of India you’ve used is wrong.

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  • December 28, 2019 at 12:52 pm
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    last country who trust USA and IMF is Argentina,you can search what had happened with that country

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  • December 28, 2019 at 1:01 pm
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    China's speed of development. It is closely related to infrastructure construction.
    China: Lend you money to build roads and railways. Power plant. Waterworks. Not borrowing money for you to gamble.
    (In China. Many people borrowed 20,000 yuan to build a house in 1990. He cannot pay it back. 2019. His house is worth 3 million yuan. This is my story)

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  • December 28, 2019 at 1:49 pm
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    "product of the century" "disaster of 2020"

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  • December 28, 2019 at 1:51 pm
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    China is doing the same thing in Africa, building in Africa, but the end goal is for gain and control through debt. will have political motives obviously, as well.

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  • December 28, 2019 at 1:52 pm
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    CHINA R GONNA MAKE YUAN A NEW GLOBAL CURRENCY IN 2035

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  • December 28, 2019 at 2:11 pm
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    Never trust Chinese government. That Belt and Road initiative is a trap.

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  • December 28, 2019 at 2:23 pm
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    DOG KILLERS. Greedy criminal China.

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  • December 28, 2019 at 2:41 pm
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    So much prejudice that they can't say 'India opposes this' out aloud?!?!?

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  • December 28, 2019 at 2:41 pm
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    10 more years China will be like Cambodia

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  • December 28, 2019 at 3:10 pm
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    It's a shame China is fucking over small nations right now but this intercontinental highway is going to be AWESOME if terrorists don't ruin it.

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  • December 28, 2019 at 3:34 pm
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    China is a nasty place.. like living Hell… wall to wall criminal greedy humans where you can't breathe the air or drink the water. China's only culture is destroying life on Earth.

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  • December 28, 2019 at 3:42 pm
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    西方媒体最大的问题是只报道负面信息,而且把消极面无限放大,中国是有许多不足,但是很多方面也在进步。他们无法理解什么是大国,即使负面消息是真的,但消极面存在于什么环境,对整体面的影响,是完全没有概念的。
    各个国家民众面对中国基本就是这个逻辑:支付宝的发达是因为假钞多,中国人为之辩护就是被政府洗脑了。部分非常时期流亡海外的华人、早年付出巨大努力和牺牲出国的中国人,不反对中国就等同于毁掉了自己早年出国的信仰基础,就是在否定以前的所作所为。深受毒媒体祸害最深的,恰好是台湾和香港,欧美离得远,错误意识的影响很少会呈现到日常实际生活,但是香港台湾距离中国大陆之近,往来之密切,如果不能有正确认识吃大亏的就是自己。
    选票除了能发泄表达民众的情绪以外,对于被直接选举者是否适合执政,是没有必然关系的,尤其是中国这样行政多级结构的大国。台湾的两党制和香港今年的区议员选举,也很好的体现了选举容易被操作诱导,容易带有情绪性的事实,而经济发展是纯理性的。台湾经济最好的70-90年代,恰好是蒋家白色恐怖时代,另一个四小龙新加坡,子承父业,国母何晶还是淡马锡控股的CEO,所持有的股票市价占到整个新加坡股票市场的47%,银行、电信、基础交通、学校无所不包,典型的国家资本主义。朴正熙60-80年代创造的汉江奇迹,除了依靠大量美国外债,也建立在集中力量干大事的铁腕基础之上。当然四小龙的发展重要的原因是天然靠海的优势能方便劳动密集型产业的出口。独裁对老百姓最大影响则是生活各方面严格的限制和政治上对国家机器的恐惧,独裁和自由结合最好的国家就是新加坡。在以经济发展为主要目标的背景下,直接的民主选举不一定适合所有国家,但是自由法治一定是所有国家都需要的。

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  • December 28, 2019 at 4:49 pm
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    China wants growth in World Economy.

    The West want World War 3.

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  • December 28, 2019 at 5:35 pm
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    None of this will be of any value, after the Western powers wage the next World War on China. The economy will tank, a revolution will take place, the CCP will be overthrown and China will divide itself into smaller nation/states.

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  • December 28, 2019 at 5:36 pm
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    Gasp. China is doing what the IMF has been doing for well over half a century. How dare they.

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  • December 28, 2019 at 6:11 pm
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    are these the fast roads to the President For Life's concentration camps?

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  • December 28, 2019 at 7:58 pm
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    Meh… For me the discussion starts and ends with authoritarianism. Xi Jinping's clear love of adoration and absolute control puts me off. If China can get away from that then I'll consider trusting them again. Of course that's just little old me. When the presidents of countries are engaging with China for personal benefit and then leaving their people with gargantuan headaches as have already happened, and will likely continue to happen, then what does my opinion count anyway? I can only put it out there.

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  • December 28, 2019 at 9:30 pm
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    Money poured into capex/infra is still safer & there are limited opportunities. China isn't after global domination, they're giving poor countries a hand to get them up to speed to form new markets for China's products & economy.

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  • December 28, 2019 at 11:01 pm
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    China can only give endless construction projects to the all the countries in the world , USA can give endless wars to most of the small countries in the world, believe me , it is not the same.

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  • December 28, 2019 at 11:11 pm
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    So much bad mouthing of China. The reality of China is much different from that portrayed in the biased western media.

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  • December 28, 2019 at 11:18 pm
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    As usual the debt trap nonsense is being repeated. Bloomberg should be more ingenious if she wants to demonise China.

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  • December 28, 2019 at 11:41 pm
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    That’s what America should learn, instead of spending everything on weapons, unless they want to conquer or destroy this world

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  • December 29, 2019 at 12:57 am
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    I'm telling you, Chinese is gonna build a stairs from Beijing to Moon soon or later.

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  • December 29, 2019 at 3:07 am
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    USA keeps inventing new terms to demonize China.

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  • December 29, 2019 at 3:55 am
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    China builds. US destroys. Down with evil empire US

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  • December 29, 2019 at 3:58 am
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    Oh! I forgot that Bloomberg is loyal propaganda mouthpiece of CIA. US media is epitome of lies, fake news, hypocrisy and false propaganda. So never trust them

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  • December 29, 2019 at 4:02 am
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    America only destroy

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  • December 29, 2019 at 4:04 am
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    US drops freedom and democracy bombs, destroys infrastructure and murder millions of innocent people. China just built infrastructure and debt. due to it. What would you prefer, death or debt?

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  • December 29, 2019 at 4:04 am
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    Americans are just too salty that China has taken over and will continue to do so.

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  • December 29, 2019 at 5:16 am
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    Trump's tariffs will put those arrogant commie cockroaches in their place

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  • December 29, 2019 at 5:55 am
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    US still believes that smearing China will eventually work if it repeats thousand times. Please don't understand people's wisdom. If no benefits, will over 150 countries join that One Belt One Road program?!

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  • December 29, 2019 at 6:26 am
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    Truly amazing how most people have never heard of the Washington consensus and how we would force countries to deregulate their economies and sell off their assets so they could borrow money that only went to multinational corporations.

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  • December 29, 2019 at 7:20 am
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    So basically the environment is DOOMED

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  • December 29, 2019 at 9:21 am
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    those poor country should stop loan from china,go loan from world bank and IMF,we chinese also need loan to develop our countryside

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  • December 29, 2019 at 10:04 am
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    China is being friends with Russia. Now is their era. The US is done.

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  • December 29, 2019 at 10:49 am
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    I knew this report will end with images of Chinese soldiers to imprint a scary China impression in the mind of the audience.

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  • December 29, 2019 at 12:34 pm
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    "Luring poor countries into debt traps" with loans that have lower interest rates than all competitors and often time forgive loans.

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  • December 29, 2019 at 12:55 pm
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    China is in a Demographic/Economic Death Spiral! 2021 forward,who say???? Math Does….

    America's largest generation is has ever produced are the Millennials!!!

    The Children really are the Future!

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  • December 29, 2019 at 1:08 pm
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    When the money that has been used to finance these useless infrastructure projects runs dry, the entire Chinese economy will collapse. This bubble is worse than that of Japan in 1987.

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  • December 29, 2019 at 3:08 pm
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    pretty wild to accuse china to lure poor countries into loans an talk about the us marshall plan in the same video

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  • December 29, 2019 at 6:39 pm
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    Those failed states that oppose will be nuked and invaded by my Chinese forces.

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  • December 29, 2019 at 7:41 pm
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    Anything is better than having a bomb dropped into your city.

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  • December 29, 2019 at 9:19 pm
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    So many global economics experts in the comments. 🤣🤣🤣

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  • December 29, 2019 at 10:50 pm
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    biased propaganda

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  • December 30, 2019 at 12:02 am
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    they learned from the brits how to own someones land

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  • December 30, 2019 at 12:57 am
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    Made by China? People will die… pity…

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  • December 30, 2019 at 2:32 am
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    Meanwhile, the smear continues.

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  • December 30, 2019 at 2:55 am
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    This video is not about a construction project

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  • December 30, 2019 at 4:52 am
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    US has 23trillion of debt, no one can beat it.
    that's why there student pay for it.

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  • December 30, 2019 at 4:54 am
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    Some builds, some bombs…. where is Pence's better alternatives?

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  • December 30, 2019 at 6:17 am
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    I don’t trust that bridges’ safety

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  • December 30, 2019 at 9:18 am
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    "ALSO THE LEADER OF DRUG PRODUCTION, ESPECIALLY FETYNOL"

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  • December 30, 2019 at 9:35 am
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    United States spends money on war

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  • December 30, 2019 at 9:36 am
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    China will be the biggest threat for the world

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  • December 30, 2019 at 2:48 pm
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    These third world countries are not just poor but also very stupid. They can't even see the simple fact that getting democratized and bombed back to stone age by the US and its NATO allies is way better than owing money to China. No wonder the US and its friends can't get it. Think!

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  • December 30, 2019 at 5:01 pm
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    There is nothing wrong with China, the problem is China Communist Party (CCP). Never trust a communist.

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  • December 30, 2019 at 9:17 pm
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    Go tell USA and Europe they’re just bullshit country and fuck the world . When Asia is doing great , they have to said something negatively. But when they Invaded other country or start taking over other and they said it’s Democracy.. See what happen In Vietnam (France and USA both got what they Deserve). France took Vietnam and make Vietnamese looks like Slavery. USA didn’t do anything. And it’s was not democracy.. but when the France got the ass fuck up.. USA going to use freedom lol

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  • December 30, 2019 at 9:47 pm
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    If this is debt trap, wtf does Imf nd WB do ? I mean we have to take another loan to pay their interest 😭

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  • December 31, 2019 at 3:02 am
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    Inside China’s Push to Turn Muslim Minorities Into an Army of Workers
    The Communist Party wants to remold Xinjiang’s minorities into loyal blue-collar workers to supply Chinese factories with cheap labor.

    KASHGAR, China — The order from Chinese officials was blunt and urgent. Villagers from Muslim minorities should be pushed into jobs, willing or not. Quotas would be set and families penalized if they refused to go along.
    “Make people who are hard to employ renounce their selfish ideas,” the labor bureau of Qapqal, a county in the western region of Xinjiang, said in the directive last year.
    Such orders are part of an aggressive campaign to remold Xinjiang’s Muslim minorities — mostly Uighurs and Kazakhs — into an army of workers for factories and other big employers. Under pressure from the authorities, poor farmers, small traders and idle villagers of working age attend training and indoctrination courses for weeks or months, and are then assigned to stitch clothes, make shoes, sweep streets or fill other jobs.
    These labor programs represent an expanding front in a major effort by China’s leader, Xi Jinping, to entrench control over this region, where these minorities make up about half the population. They are crucial to the government’s strategy of social re-engineering alongside the indoctrination camps, which have held one million or more Uighurs and Kazakhs.

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  • December 31, 2019 at 5:12 am
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    China is rising and the western world is afraid .

    China economy will rise and be able to maintain as long as the countries uses China products for their growth.

    Look at Huawei, more and countries will abandon google

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  • December 31, 2019 at 5:56 am
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    When the West does this, it is called "development". When China does it, it is called "Debt Trap".

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  • December 31, 2019 at 1:08 pm
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    China is like dr smith from lost in space. Everyone believes her. Just a few know what she is doing…

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  • December 31, 2019 at 1:32 pm
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    China is great

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  • December 31, 2019 at 3:34 pm
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    They got a better deal than wasting trillions on useless wars and gangster bankers.

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  • December 31, 2019 at 8:43 pm
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    Communist will rule the world n democracy is done.

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  • January 1, 2020 at 3:40 am
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    Leave the music out. Most of the music added to videos ruin the videos.

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  • January 1, 2020 at 2:28 pm
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    this is why debt trap don't work. the countries that owe you money can just default, or pay you and hate you for it. War machines is better, a bigger fleet of destructive power gets people scared and listen to what you have to say in more sincere manner. as far as politicians are concerned, they get hate domestically if they're in a debt trap, but they get sympathy from the people when they're pushed around by superpower with awesome jets. former is a bad business choice while latter isn't a fault of the decision makers.

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  • January 1, 2020 at 3:20 pm
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    The credit ratings of these developing countries are so low that no bank is willing to lend them money. China is trying to develop these countries and then do business with them. These countries will no longer have to rely on agriculture and services to support their livelihoods.

    Now,These countries are cheap holiday destinations in the West. But Asia will be as rich as the West in the future.

    Reply
  • January 1, 2020 at 4:39 pm
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    so china builds billions in infrastructure whilst america destroys billions in infrastructure whilst killing millions in the process.. i know who id rather do business with.

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  • January 1, 2020 at 4:41 pm
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    the us offers nothing but debt and sorrow. look at their own nation lolol. what a broken down shithole

    Reply
  • January 1, 2020 at 4:44 pm
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    clickbait anti china bullshit. nothing to see here.. move on

    Reply
  • January 1, 2020 at 4:45 pm
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    youtube deletes comments

    Reply
  • January 1, 2020 at 6:08 pm
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    虽然西方话语还是占上风,但是显然工作越来越不好做了啊,不知道再过个20年要怎么挑新的毛病呢。。。。话说评论下面一帮蠢货倒是挺可笑的,这种认知差距和信息不对称,居然是在互联网如此发达的今天,尼玛都不知道墙到底在谁这边了

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  • January 1, 2020 at 6:39 pm
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    China has never bombed a country and made its people homeless. We will never do such a thing!!!

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  • January 2, 2020 at 5:36 am
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    China's Government Is Investing Their Money In The Infrastructure of Other Nations, While The American Administration Is Wasting Your Tax Dollars On Drone Strikes By Means To Steal Resources lol…

    Reply
  • January 2, 2020 at 12:41 pm
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    In 2:42 they recognize Taiwan as a Chinese province instead of putting the status as opposed or cautious.

    Reply
  • January 2, 2020 at 8:25 pm
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    why do you liberals hate USA so much and love china even more??? you can go anytime you know?!

    Reply

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