Making the Belt and Road work for Southeast Asia

Description: 

"Southeast Asia is an important strategic partner in China’s Belt and Road Initiative (BRI). The region serves as a key link in the BRI’s Maritime Silk Road, which aims to connect China’s coast to South Asia, the Middle East and Europe through the South China Sea and Indian Ocean. But criticisms of the BRI highlight some of the risks of participation. Southeast Asian countries should address these risks by persuading China to adopt multilateral rules that broaden participation in the BRI, including by leveraging ASEAN’s potential role. According to a 2018 study by Oxford Economics and the CIMB ASEAN Research Institute, BRI projects in ASEAN countries amount to more than US$739 billion. Indonesia is home to the highest BRI investment total amounting to US$171 billion, followed by Vietnam (US$152 billion), Cambodia (US$104 billion), Malaysia (US$98.5 billion), Singapore (US$70.1 billion), Laos (US$48 billion), Brunei (US$36 billion), Myanmar (US$27.2 billion), Thailand (US$24 billion) and the Philippines (US$9.4 billion). In April 2019, China hosted the second Belt and Road Forum which was attended by 37 heads of state, government and international organisations. During the Forum, President Xi Jinping said the BRI will adopt multilateral rules and international best practices in implementing the projects. Xi’s apparent willingness to multilateralise the BRI is necessary to prevent projects in Southeast Asia from being exposed to operational risks, policy risks and project cancellations and to address criticisms of its lack of transparency and inclusivity..."

Creator/author: 

Phidel Vineles

Source/publisher: 

"East Asia Forum" (Australia)

Date of Publication: 

2019-07-13

Date of entry: 

2019-11-07

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar, China, ASEAN

Language: 

English

Local URL: 

Format: 

pdf

Size: 

40.17 KB (4 pages)

Resource Type: 

text

Text quality: 

    • Good