Home / NEWS / Asia-Pacific News / China is teaming up with a slew of countries to build a new Silk Road — but not everyone is happy

China is teaming up with a slew of countries to build a new Silk Road — but not everyone is happy

Attila Kisbenedek | AFP | Getty Notions

Chinese Premier Li Keqiang (L), Hungarian Prime Minister Viktor Orban (C) and Bulgarian Chancellor Boyko Borisov (R) speak during an economic forum attended by 16 Cardinal and Eastern European leaders on November 27, 2017, in Budapest, Hungary.

Middle and Eastern Europe

Central and Eastern European countries (CEECs) are “be affecting more energetically” to the BRI than their Western European neighbours, de Blocq van Scheltinga bid.

During a visit by Chinese Premier Li Keqiang to Hungary in November of this year, China ended its full suite of CEECs signed up to the BRI. The alliance is known as 16+1 and of the European constituent catalogues the Czech Republic, Hungary and Poland.

According to China’s state-run good copy outlet Xinhua, Chinese investment in the bloc has exceeded $9 billion, while the CEECs obtain in turn spent $1.4 billion on China.

“Improving energy pledge” is a key tenet of BRI, Yu said. “Securing oil and gas supplies from the ex-Soviet bloc … wish help Beijing reduce its reliance on seaborne imports passing via strategic choke points, such as the Strait of Malacca,” he explained.

The unity has sparked some tension between China and the European Union. The latter function is investigating a Budapest-Belgrade railway, a seminal BRI project in the region, for potentially breaking financial restrictions on such developments.

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