Monday, 15 May 2017
ASEAN- are we sustainable?
OBOR and the Rise of China The global order shifted when China outdone Japan as the world’s largest economy in 2010. China is expected to overtake the US, although India at the same time is in the same race towards becoming the fastest growing large economy. In a recent conference on One Belt One Road by the Malaysia-China Chamber of Commerce (MCCC), Datuk M. Supperamaniam, Distinguished Fellow of Institute for Strategic and International Studies, Malaysia, highlighted that one of the objectives of OBOR is for China to offset its overcapacity of steel production. In addition, Xinjiang is also created as a manufacturing base for OBOR due to its strategic location-proximity to cotton and textile producing countries. But more importantly, Xinjiang as a base allows reduction of arising ethnic disparities within the Western Chinese province itself. The creation of OBOR is also a strategy to support China’s domestic economy by boosting trade and creating new business opportunities for Chinese corporations. Local Chinese firms will be able to fulfil the demand of the new connectivity through many overseas engineering projects-roads railway, ports and pipelines. The improved transport links is beneficial to many Chinese exporters. Indirect but in an obvious way, China’s effort in aiding its neighbours’ development will create new international market. Further article will ensue.