Indonesian scholars: "the Belt and Road" paves hope for Southeast Asia
On September 17, it was reported on the website of Indonesian Time Weekly that on September 13, it was entitled "The the Belt and Road in Southeast Asia Spreads Hope". The author was Ilavan Hatono, lecturer of the Department of International Relations at the Catholic University of Palahijan Gan, Indonesia. The article is compiled as follows:
China's "the Belt and Road" initiative has changed the face of Southeast Asia with projects linking the region.
ASEAN is a political and economic alliance in the region. China is strengthening its economic ties with neighboring Southeast Asian countries through this regional organization. China has recently finalized the details of the enhanced free trade agreement with ASEAN, and another important project - the "the Belt and Road" initiative - deserves attention.
This grand initiative was launched in 2013, providing financing agreements for a large number of infrastructure projects that will connect China with most parts of the world.
The "the Belt and Road" initiative is often seen by the West as a challenge to the global order from a rising China. But this initiative is important for ASEAN, as the economies of the region have been operating around China since 2000. China's population is more than twice the total population of ASEAN countries, and its economic scale is also larger.
The southern part of Chinese Mainland shares the land boundary with ASEAN countries and has created many projects under planning.
In Laos, China has provided funding for a cross-border railway connecting the capital city of Vientiane and the southwestern Chinese city of Kunming, which has been put into operation. Cambodia is planning to build a road, an international airport, and launch a communication satellite. In East Timor, China has invested in the construction of a highway, a port, and a national power grid operated and maintained by China.
Indonesia's public transport and railway also benefit from the "the Belt and Road" initiative. Vietnam has opened its first urban light rail constructed by a Chinese enterprise.
For many years, China has been the only country that has been investing in Myanmar and has a special interest in it. In addition to two highways, China and Myanmar are also cooperating in port construction and other areas.
Singapore is not only a partner of the the Belt and Road Initiative, but also one of the founding members of the Asian Infrastructure Investment Bank, headquartered in Beijing.
Most ASEAN countries regard the "the Belt and Road" initiative as an opportunity to upgrade infrastructure construction and boost domestic economy, especially when global economic growth is expected to decline.
ASEAN's medium-sized economies are the biggest beneficiaries of the implementation of the "the Belt and Road" initiative in the group of countries. They promote their own development by responding to China's cooperation proposal, rather than falling into the debt trap.
If nothing unexpected happens, China will continue to play an important role in helping global growth, especially for ASEAN countries.
Perhaps smaller economies are more cautious when signing the "the Belt and Road" project, because they are more vulnerable to political pressure. However, as long as ASEAN countries participating in the "the Belt and Road" initiative can assess the potential benefits of their costly projects, the initiative can continue to inject a boost into the region's economy.
