The country is onboard Belt and Road » Manila Bulletin News

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Floro M. Mercene

By Floro M. Mercene

 

President Rodrigo Duterte continues to build up his friendship with China’s Xi Jin Ping and showed his support of the Belt, and Road development strategy by going to Beijing.

Belt and Road refers to the Silk Road Economic Belt and the 21st-century Maritime Silk Road proposed by Xi, focusing on the connectivity and cooperation between Eurasian countries, primarily the People’s Republic of China.

This gargantuan-and still growing-market is linking itself to the rest of the planet by railways, roads and bridges, telecommunication highways, from China to Europe and the maritime ports, and from Europe through the Indian Ocean back to Asia and China across the South China Sea.

There could be a future link stretching over to the Pacific Ocean and Oceania-bringing to and fro, serving export and import needs of every country along the routes.

Belt and Road has led to a call from Sir John Peace, chairman of Standard Chartered, writing in The Telegraph.

“China’s new Silk Road to the West is an opportunity Britain must grasp,” he said, “As these countries benefit economically from the infrastructure investment, Britain should be poised to take advantage…it is not only financial service, but a range of British business should invest in Belt and Road, harnessing our expertise in PPP, engineering and supply chain.”

The Philippines must not miss this opportunity today, offered by Belt and Road, as it did in the 80s when Asian and ASEAN countries transitioned to “tiger economies” but the country wallowed in the mire of political turmoil and misinformed economic theories.

We should be proud we have a president with the uncanny foresight to see China’s inevitable rise in world appreciation, coming as it did with the seeming unraveling of the United State.

Just prior to the opening of the Belt and Road meet in Beijing, Japan and the United States signified their interest and send heavyweight representative to the conference.

China’s Belt and Road planetary economic plan is a game-changer in the current global economic slowdown.

As the United States of America was once the market of last resort for the world to sell its goods to, it now looks inward and heal its wounds.

 

(To be continued)

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