The One Belt, One Road to nowhere

As 28 heads of state across Central Asia gather in Beijing to discuss China’s One Belt, One Road (OBOR) initiative, the truth comes out via FT:

The initiative centres on building a network of roads, railways, ports, power plants and fuel pipelines connecting China with south-east and central Asia, the Middle East, Africa and Europe.

…Foreign direct investment from China to countries identified as part of the BRI fell 2 per cent in 2016 year-on-year and has dropped an additional 18 per cent so far in 2017, according to commerce ministry data. Non-financial FDI to 53 BRI countries totalled $14.5bn last year, comprising only 9 per cent of overall outbound FDI.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.