In hosting its third Belt and Road Initiative Forum on Tuesday and Wednesday of this week, China is welcoming representatives from around 130 countries for a diplomatic event focused on Xi Jinping's now ten-year-old signature policy.
While coming in for criticism related to the "accentuated debt distress" it has put some countries under, Statista's Martin Armstrong notes that the Belt and Road Initiative (BRI) has created $1.01 trillion worth of investment and construction projects in 148 countries around the world.
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Figures from the Green Finance & Development Center show that BRI investment in 2021 (and all previous years) was centered largely on the energy sector, which received a total of $22.3 billion.
Transport closely followed as a key focus in 2021, with $16.4 billion. The sectors with the largest annual growth though were 'health' (246 percent) and 'utilities' (192 percent).
By Zerohedge.com
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China will be the first to admit that its Belt and Road Initiative (BRI) isn’t only driven by altruistic motives but also by mutual benefits and a genuine desire to improve the lot of poorer countries by helping them build their infrastructures and start wealth-creation projects thus enabling them to expand their economies and also by mutual benefits. In so doing China’s economy also benefits and becomes more integrated into the global trade system.
That is why the BRI has created over $1.0 trillion worth of investments and construction projects globally in its ten-year history with energy figuring prominently in these projects.
The BRI is a Chinese initiative where everyone is a winner.
Dr Mamdouh G Salameh
International Oil Economist
Global Energy Expert