c2-silk-RTR20IA4-David Gray

China is investing $900 billion in a new Silk Road

$900 billion

China is expected to spend $900 billion in infrastructure projects for its One Belt, One Road development program, according to an estimate by ratings agency Fitch.

Published   |  Photo by Reuters/David Gray
c2-silk-RTR20IA4-David Gray
$900 billion

Launched in 2013, the One Belt, One Road involves projects with 65 countries. It was celebrated in a summit in Beijing on May 14 and 15.

c2-silk-RTR20IA4-David Gray
$900 billion

The giant infrastructure program involves projects like the China-Iran freight train that made its first trip in 2016.

c2-silk-RTR20IA4-David Gray
$900 billion

There is also the China-Pakistan economic corridor. Launched in 2015, it covers the construction of power stations, ports, wind farms, and factories.

c2-silk-RTR20IA4-David Gray
$900 billion

The trip took 14 days, compared to 44 by sea.

c2-silk-RTR20IA4-David Gray
$900 billion

Costing $46 billion, the economic corridor is expected to create 1 million jobs in Pakistan.

c-AP_707167537458-Anjum Naveed

AP/Anjum Naveed

Published

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