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Huang Renwei

Source：People's Daily|Time：2022-11-14|Browse：

The "the Belt and Road" has triggered a global infrastructure investment boom, which will
promote the recovery of the world economy

"Western countries are now starting to 'copy operations' and propose some global infrastructure plans to counter and hedge China's initiative of the' the Belt and Road ', but in the long run, this can drive the world's economic recovery, and also form a new globalization model."
On November 11, the sixth "the Belt and Road" and Global Governance International Forum, hosted by Fudan University and the "the Belt and Road" Think Tank Cooperation Alliance of the Central Committee, was held in Shanghai. Huang Renwei, Executive Vice President of the Institute of the Belt and Road and Global Governance of Fudan University, was interviewed by Jiefang Daily Shangguan News on the sidelines of the meeting.

[Duality of infrastructure plans in western countries]

The market demand for global infrastructure is up to millions of dollars, while the current investment is only hundreds of billions of dollars, which is impossible to be completed by China alone.

Although the western countries have their advantages, China is equivalent to the Chinese team participating in the Olympic table tennis competition in the field of infrastructure. No matter in terms of technology, equipment, human resources and capital, China is leading and irreplaceable. " Huang Renwei said.

The United States and Poland recently identified a $40 billion nuclear power plant plan. This is the largest investment since the launch of the US led global infrastructure program called "Rebuilding a Better World". The plan will focus on clean energy, health systems, communication technology and sustainable development, and will raise $600 billion in five years.

"If this can be achieved, it will cause a global infrastructure investment boom, which can form a new globalization model." Huang Renwei said that the past globalization was characterized by the flow of hot money from the West, and the consequences were speculative rather than investment. Today, we should see the duality of the infrastructure plans of western countries. On the one hand, they want to block the "the Belt and Road", but on the other hand, it is also a manifestation of the laws of the world economy. It is inevitable that the global market will emerge at this stage of development, and can drive the economic recovery of the world.

[Not a "solo", but a "chorus"]

"I have been to the Hongqilafu Pass of the China Pakistan Economic Corridor, where the mountains are high and the road is far away, but many local young people go there specially to hold weddings. As soon as we are Chinese, a bride we met by chance also took a picture with us, which is to regard us as family members." Huang Renwei told the Jiefang Daily Shangguan News reporter about his experience.

Hongqilafu is the highest port in the world at an altitude, and also the only land route between China and Pakistan. Historically, this is the throat of the ancient Silk Road. From the latest development, the "the Belt and Road" radiates three new north-south corridors, namely, the China Pakistan Economic Corridor, the Indochina Peninsula Economic Corridor (including the China Laos Thailand Railway Project), and the Balkan Peninsula Economic Corridor.

In Huang Renwei's view, the China Pakistan Economic Corridor has brought tangible development and benefits to the local people. Haier (Pakistan) Park employs tens of thousands of Pakistani workers, driving local employment and taxation. "We have been to some areas before, and there is a shortage of electricity. The whole city will be cut off at 10 pm," said Huang Renwei. At present, Gezhouba Group and Three Gorges Group are building power stations in Pakistan, which will improve the local power shortage situation, and the industry will be developed accordingly.

Since the opening of the China Laos Railway 11 months ago on December 3, 2021, the freight volume has reached new highs. As of November 3 this year, the total freight volume has reached 9.86 million tons. "Lao employees of the China Laos Railway are all trained at Shanghai University of Applied Technology. I read their thank-you letters, which are full of sincere feelings for China and the school."

Not only in Laos, but also in Hanoi, Vietnam, it took only three years for Chinese builders to build the Hanoi subway, while Japan had not completed the Ho Chi Minh subway for nearly a decade. In Jakarta, Indonesia, Chinese builders invited local residents to China to experience the high-speed railway for free. Now, the high-speed railway from Jakarta to Bandung is about to open.

So far, China has signed more than 200 cooperation documents with 150 countries and 32 international organizations to jointly build the "the Belt and Road". "This strongly proves that the 'the Belt and Road' cooperation model and development direction are right. This is not a 'solo' of China alone, but a 'chorus' of countries along the line," Huang Renwei said.