The red carpets have been rolled up, the visiting leaders have left and cash has been committed….
The red carpets have been rolled up, the visiting leaders have left and cash has been committed. On the face of it, Beijing’s diplomatic extravaganza to galvanise support for its global trade and infrastructure outreach programme went off without a major hitch. By the end of the two-day forum for the “Belt and Road Initiative”, nearly 30 nations in Asia, Europe, Africa and Latin America were all board Chinese President Xi Jinping’s plan to breathe new life into ancient trade routes linking China to Asia, the Middle East, Africa and beyond. Along the road, Xi had cast China as a defender of free trade in contrast to a more inward-looking United States and a fractured Europe. But China also failed to dispel unease about its strategic intentions among most industrialised nations and some major emerging economies, leaving Beijing with a long way to go to realise Xi’s ambitions to fill the world leadership gap on globalisation, analysts said. As China’s signature foreign policy event of the year, the summit appeared largely to be a diplomatic success thanks to meticulous preparation and more importantly, China’s benevolence and generosity, according to Yun Sun, from the Stimson Centre in Washington. On top of US$60 billion in Chinese investment pledged since the initiative was proposed in 2013, Xi committed another US$113 billion to help fund infrastructure projects around the world. Observers agreed Xi emerged a domestic and international winner by promoting China as a defender of globalisation when world leadership on the issue is in short supply. Sun said the summit served Xi’s domestic political agenda, burnishing his credibility and achievements in the lead-up to the Communist Party’s national congress. “Given the sensitivity associated with the 19th party congress later this year, Xi left no stone unturned to make sure the summit proceeded smoothly. It will serve to prove Xi’s great leadership not only in China but also in the world, ” he said. The Chinese president’s mantra at the meeting was “openness and inclusiveness”. Amid suspicion and concerns among most developed nations and major emerging economies, Xi said the new Silk Road push would not exclude any party or target anyone. Alexander Gabuev, of the Carnegie Moscow Centre, said Xi was trying to contrast his plan with the “closed-door club” of the Trans-Pacific Partnership, the US’ now-abandoned attempt to create a multilateral free-trade pact in the Asia-Pacific.
