At the forefront is Chinas desire to expand its sphere of influence through what it calls South-South cooperation [PDF], a development framework focused on aid, investment, and trade. But the United States and its allies fear that Beijing is using these relationships to pursue its geopolitical goals, including the further isolation of Taiwan, and to bolster authoritarian regimes. Jinxin Electronics headquarters base project. To improve on its rating and become compatible with Paris Agreements 1.5C limit China would need to reduce emissions as early as possible and well before 2030, decrease coal and other fossil fuel consumption at a much faster rate than currently planned, and set clear phase-out timelines. Some countries have raised concerns over Beijings vaccine diplomacy. What needs to happen for the initiative to succeed? The lowered NDC emissions estimates are due to new data analysis and increasingly aggressive renewable policy developments. We have revised our projections to incorporate the latest policy developments and analysis. Chinas EV stock will need to make up over 65% of the entire car fleet and sell its last fossil fuel car by 2040 to be compatible with the 1.5C temperature goal. Xinhua | China is South Americas top trading partner and a major source of both foreign direct investment and lending in energy and infrastructure, including through its Belt and Road Initiative. A second study, beginning early next year, will explore the route, facilities, financial arrangement and border arrangements. The 2022 Yuelu Internet Summit launched twenty-four significant projects with 83.31 billion yuan invested. To facilitate east-west connectivity in the New Territories North between Tin Shui Wai in the West, and Kwu Tung North in the east, via San Tin and expand transport capacity in the Northern Metropolis. President Donald Trump took a more hard-line approach than his predecessors by imposing sanctions on several countries and reducing funding to regional organizations. Kiterocket is a global PR and creative marketing agency with experience across a diverse set, Finding an Engineers Sense of Achievement at KLA, Community Member Monthly Highlights October, 7 Essential Steps For A New Website Design, IFTLE 535: The Resurgence of U.S. Semiconductor Fabs, Chinas Semiconductor Technology Is More Advanced Than Expected, Chinas Semiconductor Industry Experiences Continued Growth. But experts say countries arent doing enough to limit dangerous global warming. What potential opportunities does the initiative present? by Lindsay Maizland Renewable energy installation continues to be a national priority amidst the NDC targets of an updated non-fossil share (25% by 2030) and renewable (solar and wind) capacity (1,200 GW by 2030), which are supplemented by domestic renewable targets to make up half of the countrys installed capacity by 2025. The Great Leap Forward (Second Five Year Plan) of the People's Republic of China (PRC) was an economic and social campaign led by the Chinese Communist Party (CCP) from 1958 to 1962. Not for dummies. A north-south trunk road the Shatin Bypass will connect Tai Po and Kowloon West and relieve pressure on the Tolo Highway. Venezuela is the biggest borrower; its taken on loans worth $62 billion since 2007. You can disable the usage of cookies in your browser settings. Expand your Outlook. On the Ukraine War, Germany Has a Leadership Problem. How to Mitigate the Environmental Risk of BRI Infrastructure ProjectbyElizabeth Losos,Alexander Pfaff,Lydia Olander,Sara Mason,Seth Morgan|Published on 01/29/19, Hurry up! The lowered NDC emissions estimates are due to new data analysis and increasingly aggressive renewable policy developments. Please refresh the page and/or try again. The Dwight D. Eisenhower National System of Interstate and Defense Highways, commonly known as the Interstate Highway System, is a network of controlled-access highways that forms part of the National Highway System in the United States. The common denominator in those projects is that the majority have R&D or infrastructure components in the plans. The citys leader discussed six major infrastructure projects in his first Policy Address, including the Hong Kong-Shenzhen Western Rail Link proposed by his predecessor. Chinese President Xi Jinping will deliver a speech via video at the opening ceremony of the fifth China International Import Expo (CIIE) and the Hongqiao International Economic Forum on Friday in Shanghai. Are these weapons effective in shaping the war? October 26, 2022, Politics Will Determine Chinas Economic Future During Xis Third Term, In Brief Chinas Long-term Low Greenhouse Gas Emission Development Strategy (LT-LEDS/LTS) submitted to the UNFCCC in October 2021 strongly suggests that the carbon neutrality target covers carbon dioxide only; previously the CAT had analysed the target as if it covered all greenhouse gases as claimed by Xie Zhenhua and Tsinghua University. Risks involved with major infrastructure projects. The U.S. federal E-mail: sic@yidaiyilu.gov.cn This website saves small pieces of information (cookies) on your device to provide you with an improved user experience, and to allow us to analyse our websites traffic. In 2020, Chinese OFDI in Latin America amounted to roughly $17 billion, mostly in South America. Nearly a decade ago, when then newly-elected leadership of the Communist Party of China (CPC) made its debut at the Great Hall of People after the first plenary session of the 18th CPC Central Committee, the world was speculating how the world's mos Andreas Thorud is putting the finishing touches to a seafood-themed booth at the fifth China International Import Expo (CIIE), scheduled for Nov. 5 to 10 in China's economic hub Shanghai. BEIJING - The China Development Bank has provided another 150 billion yuan (about 21.45 billion US dollars) to support major infrastructure projects, according to the bank. This includes pushing for modernisation and efficiency gains in industry and energy systems, evolving the economy towards higher value and cleaner production, and the necessity of coal as a backstop for energy security. January 31, 2022, A Guide to Global COVID-19 Vaccine Efforts, Backgrounder There are potential environmental, social, and corruption risks associated with any large infrastructure project. Support HKFP |Code of Ethics |Error/typo? November 17, 2021 October 25, 2022 Trump also stepped back from trade relations with the region, withdrawing from the Trans-Pacific Partnership and renegotiating the North American Free Trade Agreement. E.China's Fujian attracts surging foreign investment from B&R countries in Jan.-Sept. China remains world's top shipbuilder in first three quarters; Shenzhen's foreign trade of goods up 3.9 pct in Jan.-Sept. China's Guangdong sees rising foreign trade in first nine months; China's Jiangsu reports robust foreign trade in first three quarters According to Semiconductor Industry Association, China is investing well over$150 billionfrom 2014 through 2030 in semiconductors. China is aging at a rate that few countries have matched historically. Chinas 20th Party Congress in October 2022, outlining President Xi Jinpings vision for the next five years, delivered no new headline policy updates on climate and environment but re-emphasised key trends of the last year. While Chinas energy transition continues to build momentumhighlighted by sectoral peaking plans and supercharged national and provincial ambition on renewables rapid scaleupunfortunately, dependency on carbon-intensive fossil fuels is set to stay for the immediate future. At a State Council executive meeting last month, China pledged to increase the 300-billion-yuan policy-backed and development-oriented financial instruments for specific projects by another 300-plus billion yuan. How Much Will the Belt and Road Initiative Reduce Trade Costs? The Belt and Road Initiative: Economic, Poverty and Environmental Impacts, Who Wins, Who Loses? If completed, BRI transport projects could reduce travel times along economic corridors by 12%, increase trade between 2.7% and 9.7%, increase income by up to 3.4% and lift 7.6 million people from extreme poverty. Chinas President Xi Jinping first announced Chinas commitment to reach carbon neutrality before 2060 in a declaration at the UN General Assembly in September 2020. Can Iranian Drones Turn Russias Fortunes in the Ukraine War? October 28, 2022. International efforts, such as the Paris Agreement, aim to reduce greenhouse gas emissions. Meanwhile, some observers say growing China-Latin America ties are bolstering authoritarian governments, including those in Cuba, Nicaragua, and Venezuela. While Chinese loans often have fewer conditions attached, dependence on them can push economically unstable countries such as Venezuela into what critics call debt traps that could result in default. document.write(oTime.getFullYear()); The CAT keeps China with an overall rating of Highly Insufficient. However, the discussed targets have not been officially adopted, and the steel sectors carbon peaking date has now been delayed. The essential tech news of the moment. We've developed a suite of premium Outlook features for people with advanced email and calendar needs. However, these ties have raised some concerns, particularly among regional governments. Space. //]]> Organized by: Xinhua Silk Road, Belt and Road State Information Big Data Technologies Co., Ltd. Read unique story pieces & columns written by editors and columnists at National Post. Issues. These include the United States Innovation and Competition Act and the America COMPETES Act of 2022, both of which aim to challenge Chinas dominance in Latin Americas science and technology sectors by increasing U.S. investment in research and development. 2022 Hong Kong news - Independent, non-profit, impartial. In 2019, the gross annual revenues of Chinese companies engineering and construction projects in Africa totalled USD 46 billion, dropping by six percent from 2018. The BRI presents risks common to many major infrastructure projects: debt risks, governance risks (corruption and procurement), stranded infrastructure, environmental risks and social risks. A curation of original analyses, data visualizations, and commentaries, examining the debates and efforts to improve health worldwide. The outlook on coal is primarily driven by increasing concerns of energy security, highlighted by the widespread power shortages experienced in 2021. Chinas Belt and Road Initiative is a huge, $1tn infrastructure project to better connect China and Chinese goods with the rest of the world. Understanding the Spatially Differentiated Effects of the Belt and Road Initiative, Assessing the Value of Market Access from Belt and Road Projects, Reducing Environmental Risks from Belt and Road Initiative Investments in Transportation Infrastructure, Investment Protection Along the Belt and Road, Trade Effects of the New Silk Road: A Gravity Analysis, How Old is the Belt and Road Initiative? These could include, for example, biodiversity loss, environmental degradation, or elite capture. The Great Leap Forward (Second Five Year Plan) of the People's Republic of China (PRC) was an economic and social campaign led by the Chinese Communist Party (CCP) from 1958 to 1962. This rating takes into account that international support is needed for only a fraction of the policies and actions China needs to take to be consistent with the 1.5-degree limit. Four of the more prominent projects that came from the Summit were: East China also green-lighted several projects in September. Understanding the Spatially Differentiated Effects of the Belt and Road Initiative,Lall, Somik V.; Lebrand, Mathilde Sylvie Maria; April 2019 (English), Assessing the Value of Market Access from Belt and Road Projects,Reed, Tristan; Trubetskoy, Alexandr; April 2019 (English), Reducing Environmental Risks from Belt and Road Initiative Investments in Transportation Infrastructure,Losos, Elizabeth Claire; Pfaff, Alexander;Olander, Lydia Pauline; Mason, Sara; Morgan, Seth; January 2019 (English), Investment Protection Along the Belt and Road Kher, Priyanka;Tran, Trang Thu; January 2019 (English), Trade Effects of the New Silk Road: A Gravity Analysis,Baniya, Suprabha;Rocha Gaffurri, Nadia Patrizia;Ruta, Michele; January 2019(English), How Old is the Belt and Road Initiative? Critics also say that Chinese companies bring lower environmental and labor standards, and they warn that Chinas growing control over critical infrastructure such as energy grids poses national security risks. The Dwight D. Eisenhower National System of Interstate and Defense Highways, commonly known as the Interstate Highway System, is a network of controlled-access highways that forms part of the National Highway System in the United States. Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Countries made big pledges at last years UN climate conference, but greenhouse gas emissions continue to rise. October 28, 2022, What to Know About the Arab Citizens of Israel, Backgrounder Chinese overseas foreign direct investment (OFDI) and loans also play a major role. The project commenced construction in 2016 and is scheduled to be complete in this year. Some governments have accused the Belt and Road Initiative of being neocolonial due to what they allege is China's practice of debt-trap diplomacy to fund the initiative's infrastructure projects. 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