BEIJING: China hosts on Sunday a summit showcasing its ambitious drive to revive ancient Silk Road trade routes and lead a new era of globalization, just as Washington turns inward in favor of “America First” policies. China’s push comes as Washington’s leadership in global trade is changing under US President Donald Trump’s nationalist “America First” stance. China’s ‘rejuvenation’OBOR spans some 65 countries representing 60 percent of the global population and around a third of global GDP. For China, OBOR is a practical solution to relieve domestic overcapacity that plagues its industrial sectors such as steel. Yang Shu, of Lanzhou University’s Institute for Central Asian Studies, said many countries still do not really understand the project.

Source: Manila Times May 11, 2017 06:33 UTC