US President Joe Biden, along with leaders of India, Saudi Arabia and the United Arab Emirates, announced on Saturday the launch of a new trade route connecting India to the Middle East and Europe through railways and ports. The White House said the project would usher in a “new era of connectivity.”
Some analysts are saying it will be a direct challenge to China’s Belt and Road Initiative, a multi-trillion-dollar infrastructure project launched a decade ago by Beijing with the aim of connecting China to the rest of the world. Announced at the Group of 20 summit in India, Biden’s plan also includes the European Union, France, Italy and Germany.
“I don’t want to contain China, I just want to make sure we have a relationship with China that is on the up and up squared away, and everyone knows what it’s all about,” Biden told reporters traveling with him in Vietnam, adding that he wants to see China succeed as long as it succeeds “by the rules.” The question remains whether a new trade route in the region would complement China’s BRI or compete with it.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
G20 unveils rail project linking India to Middle East, EuropePresident Joe Biden and his allies on Saturday announced plans to build a rail and shipping corridor linking India with the Middle East and Europe, an ambitious project aimed at fostering economic growth and political cooperation.
Read more »
At the G20, Biden joins forces with India and the Middle East, sidelining ChinaPresident Biden and other world leaders announced a new corridor to link India with the Middle East and Europe. It's one of several initiatives aimed at countering China's Belt and Road Initiative.
Read more »
At the G20, Biden joins forces with India and the Middle East, sidelining ChinaPresident Biden and other world leaders announced a new corridor to link India with the Middle East and Europe. It's one of several initiatives aimed at countering China's Belt and Road Initiative.
Read more »
At the G20, Biden joins forces with India and the Middle East, sidelining ChinaPresident Biden and other world leaders announced a new corridor to link India with the Middle East and Europe. It's one of several initiatives aimed at countering China's Belt and Road Initiative.
Read more »
Biden, others unveil rail and shipping project linking India to EuropeThe corridor, outlined at the annual G20 summit, would also connect India to the Middle East.
Read more »
The Middle East has become the 'hub for the world,' says CEO of Thai multinational companyWilliam Heinecke, CEO of Minor International, says the Middle East is 'one of the most dynamic markets.'
Read more »