China’s Trillion Dollar Plan | Vox §

Created Time: October 2, 2021 1:59 PM Database: Evergreen Database Last Edited Time: October 3, 2021 5:51 PM Tags:#Video Type: Literature Notes URL: https://www.youtube.com/watch?v=EvXROXiIpvQ

Summary of main points §

1. The Belt and Road Initiative is not just a economic strategy to get rich, its also a political strategy to set up navel bases along important maritime trade routes.
2. China funds foreign projects while requiring the use of China’s own construction company, therein putting its investment back in its economy rather than the host country.
3. China is building a ‘String of Pearls’ along the Indian ocean to gain economic, security, and geo-political control of waters in the East.

Highlights and Notes §

• China requires that the projects it fund through the BRI, bust involve construction companies from its country.

  • Means construction money goes back into China’s economy instead of foreign companies.

• BRI is a trap because it’s willing to lend money to unreliable countries

  • Corruption and conflicts in these countries make them less likely to pay back

• Its not just for economic benefits

  Ex: Sri Lanka let China fund building its port.

  • Sri Lanka can’t pay back, it gave the port the China for 99 years
  • Pakistan also have a 40 years lease

  

  • China wants to create a string of navel bases to guard the shiping routes in the Indian ocean
  • US during Trump office neglected Asia and lost influence to China