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THIS WEEK'S SILK ROAD HEADLINES
Moody's awarded a positive rating to the AIIB and foresees it will remain stable for the upcoming 5 to 10 years, due to its governance framework, capital adequacy and liquidity. Expectations are that AIIB will garner capital efficiently. [Moody's assigns first-time Aaa issuer rating to Asian Infrastructure Investment Bank; outlook stable].
Not all EU-member states are equally enthusiastic vis-à-vis B&R. Germany’s Chancellor Merkel stated that she is concerned whether all EU-member states are on the same page on China [Merkel says she is wary of Greece’s over dependence on China]. Recently, both Hungary and Greece were particularly lenient towards China's human rights record. Both countries received a significant amount of Chinese investments.
Meanwhile Portugal wants to solidify (financial) ties with China through its ambition to become the first Eurozone country to borrow on the Chinese bond market. Ireland, Italy and Belgium are also open, while France, Spain and the Netherlands do not have such plans. [Portugal's bond with China: pioneering debt sale founded on close ties].
The Northern sea route is assigned a bigger role in the B&R initiative. [Opinion: China needs to be more active in the Arctic]. Several countries surrounding the Arctic are exploring the possibilities. [Finland could serve as China’s Arctic gateway for Obor]. Russia's fees and regulation prevent it from becoming a major partner in this respect. Remarkably enough, both Canada and Finland are looking for possibilities for closer cooperation with China, due to their geostrategic positions. [Closer Canada-China economic ties would benefit both].
PwC has issued a report on the Belt&Road initiative which showcases opportunities for interested parties. [Repaving the ancient Silk Routes]. Also, more African countries are joining the AIIB and thus the B&R initiative. [Madagascar joins Afreximbank and AIIB]. China is approaching strategic partners in the upcoming weeks in light of the upcoming G20 summit, in which important partners such as China’s Special Administrative Region Hong Kong play a big role [HK’s role for next 20 years? Silk Road ‘super-connector], but also competitors to the B&R such as India. [Watch Out, China: India Is Building A 'New Silk Road' Of Its Own].
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