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Belt and Road Initiative: Recent developments
China’s Belt and Road Initiative (BRI) has been presenting great opportunities in promoting economic cooperation and connectivity with major markets across the world. On top of boosting infrastructure development and trades, multiple industries such as financial markets, consumer markets and real estate markets are also slated to benefit from this initiative.
Nonetheless, various developments across the world have resulted in challenges complicating the success of the initiative. These include escalating tensions between China and the United States (US) that have also overtime caused China’s relationship with other countries such as Australia and India to deteriorate.
In this paper, we seek to provide an update on the recent events surrounding the escalation of China-US tensions. The paper will also highlight China’s recent conclusion of its 14th Five-Year Plan as well as the developments of both projects and trades related to BRI.
