Opinion | President Xi: When China does well, the world will get even better
By Augustus K. Yeung
INTRODUCTION
In the Great Hall of the People, Xi Jinping delivering the third BRI forum's keynote speech declared: "When China does well, the world will get even better." Was he blowing his trumpet in Beijing?
Xi may sound too good to be sincere, trueful and wise – until you have listened to Galib, a foreigner who has had the pleasant experience of putting into practice the Chinese president's principle of people-to-people connectivity.
Mostak Ahamed Galib got an opportunity to study abroad after high school in Bangladesh in 2002. He chose to study at Wuhan University of Technology in Central China's Wuhan city, got a PhD later and became a teacher there.
Galib, director of cross-cultural communication and the BRI research center at Wuhan University of Technology, now considers Wuhan his home. The scholar is engaged in passing on to Bangladesh and other developing countries China's development experiences.
Living in China for two decades, Galib has witnessed great changes in China, especially in the development of rural areas. Whether as a student or a teacher, he would use the time during his vacation to volunteer or teach in impoverished areas.
He visited rural areas in Hubei, Shaanxi, and Hunan provinces, which deepened his understanding of China's poverty alleviation policies.
What impressed Galib the most? It was that China not only solved its own poverty problem – but through its Belt and Road Initiative – it brought tangible benefits to ordinary people in many countries, including Bangladesh, his native country.
BRI Helps Bangladesh Reap Dividends
A typical example is the Chinese built Padma Bridge in Bangladesh, the longest bridge over the Padma River, which opened last June. The bridge cuts travel time from parts of southwestern Bangladesh to the capital Dhaka from eight hours to 10 minutes.
Despite having two seaports with a relatively cheaper labor force, southwestern Bangladesh was relatively poor. The key reason was the geographical challenges created by the Padma River. Hundreds of trucks loaded on the banks of the river because the ferries were incapable of carrying heavy trucks.
Trucks had to wait for seven hours due to bad weather or the ferries weren't big enough to carry them. As a result, farmers had no hope of reaping the fruit of their labor.
"Padma Bridge is the hope for a new future for around 45 million people in the zone," he said.
However, the journey toward the dream project wasn't that easy for the Bangladesh government, said Galib.
After the World Bank and other global lending agencies pulled out of the project in 2012, Bangladesh decided to fund the bridge project, which cost more than $3 billion, through its own finances.
The amount was more than one-tenth of the country's foreign reserves at that time. So, the first challenge for Bangladesh was to make international contractors believe in the financial capability, he said.
''That was the time when China entered the scene. Their decision to believe in the government of Bangladesh is a great example of China's responsibility as a major country, along with China's true intentions of creating a better community for the people," he said, adding that one year after it became operational, around 6 million vehicles had crossed the bridge.
Galib said the bridge has boosted the economy of Bangladesh. For instance, the dry port in the region, Bhomra Land Port would handle 30 to 50 trucks per day on average. With the bridge cutting the travel time, around 160 fully loaded trucks pass through the port every day, turning it into a busy hub along with Mongla and Payra seaports.
Busier ports mean more trade, which has increased employment opportunities for people in the region.
China's goal is to create a community of shared future – by promoting a people-to-people bond, he said, adding: "Padma Multipurpose Bridge Project is not only a token of friendship between Bangladesh and China – but also a beautiful project under the BRI." (Source: China Daily)
CONCLUSION
The BRI is far too big. We can either adopt Galib's perspective based on personal experience or take a statistical approach.
The BRI has six economic corridoes. The Economic Corrido between Bangladesh, China, India and Cambodia is one relevant example.
Cambodia's economy is said to be the fastest growing in the Association of Southeast Asian Nations, according to the latest outlook by IMF backed by analysts.
In the World Economic Outlook published recently, the IMF projected that Cambodia's real GDP will grow 5.8 percent this year and 6.1 percent next year, up from the 5.2 percent growth recorded last year.
This means the kingdom is likely to become the fastest-growing economy in the 10-nation bloc for two consecutive years.
Several reasons are behind Cambodia's economic growth, said Thong Mengdavid, a research fellow at the think tank Asian Vision Institute in Phnom Penh.
"The recovery of export-oriented manufacturing sectors such as the garment industry… is a crucial contribution to Cambodia's economic growth in the post-pandemic era," he said.
The full implementation of the RCEP and Cambodia-Chinese free trade agreement improves competitiveness and encourages bilateral and regional trade, as well as investment diversification of Cambodia's agricultural goods, Mengdavid added.
Cambodia exported $16.94 billion worth of goods in the first nine months of this year, a slight year-on-year drop of 0.8 percent from $17.07 billion, Xinhua News Agency reported, citing data released by the kingdom.
Its export to China increased by 18.3 percent between January and September.
Under the RCEP, Cambodia exported $5.24 billion worth of goods to other member countries in the first eight months of this year, up 22 percent from last year, another report by China showed.
"The IMF evaluation on ASEAN countries reflects the reality of ASEAN challenges," said Mengdavid. (Source: China Daily)
Look at Bangladesh and Cambodia, should the U.S. and its Western allies continue to contain, defame and derail the Xi-initiated Belt and Road? Cooperate, and the world will be a better place!
The views do not necessarily reflect those of DotDotNews.
To contact the writer, please direct email: AugustusKYeung@ymail.com
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