China in Infrastructure has started an initiative to connect itself with the rest of the world. This is known as Belt and Road Initiative. It is a strategy adopted by China government in 2013.
Rise of China
For that China has planned a multi-billion-dollar push toward world trade and infrastructure. To improve this China has started providing funding to more than a hundred countries that need different infrastructure projects. This infrastructure project includes roads, railways, power plants, ports, and other infrastructure. According to the World Bank, The Belt and Roads Initiative of China has raised the GDP of recipient countries by 3.4%. This effort by China will improve the economic growth of the country and the global economy. China is a soft-power-focused country. But largely driven by propaganda against the American companies. Chinese investments have dangerous repercussions which we will discuss later.
Belt and Road initiative of china
The development of these countries is done on the cost of deforestation, wildlife trafficking. Because in making a new infrastructure a large number of new areas are needed. The projects started by China were without the consent of local native peoples. 60% of these projects are harming the native community and wildlife. The Belt and Road Initiative of China has a key objective of infrastructure investment. BRI has a very broad objective and it is for the sustainable growth of the country and its regional growth. These initiatives will also upgrade the countries industrial growth.
If you are interested to know about the Infrastructure Investment System refer to my blog on Infrastructure Investment System
Chinese infrastructure projects globaly
The two major banks of China, the China Development Bank and The Export Bank are financing most of the projects. They are financing almost 594 development projects. From 2008 to 2019 the bank has given US$462 billion for development in around 93 countries. Almost 50% of the projects financed by these banks are in major habitats. According to the International Finance Corporation, these are the areas that need conservation especially. Around 24% of the indigenous people and the wildlife are affected by the China Development finance. Read more about the Basic Understanding Of Infrastructure Investment System.
China-financed development risks on different countries
The Chinese development projects are a big loss for the Indigenous land. Most of the projects are planned on the indigenous land. These projects are critical for the habitats living there. The countries with maximum risk are South America, Central Africa, and Southeast Asia. 65% of projects financed by China in Ethiopia, Laos, and Argentina are located within Indigenous lands. You should watch the excellent video by Wendover Productions on this specific topic here.
The indigenous lands are affected by major projects like extraction work, transportation work, energy projects, etc. These projects use the indigenous land on which the native peoples are depending for their livelihoods. China has prepared itself for long-term development and for this it has planned to have invested a huge amount of money. These infrastructure projects will help China to develop its trade and global level. But these BRI plans affect the indigenous people of the indigenous area and it is a risky one. The global investment done by China will help the poor countries to develop themselves.