Business and political leaders discuss belt and road at the Summer Davos Forum in Dalian
More than 1,900 politicians, business people, scholars and media representatives from over 100 countries will gather today in Dalian City, China to attend the three-day Summer Davos Forum.
This year’s theme is “Succeeding in a New Era of Globalization.” China’s Belt and Road Initiative (BRI)—one of the most ambitious global infrastructure development and investment initiatives in world history—will inevitably be a topic of discussion.
A recent report from the World Bank considers how the BRI will impact the concentration of economic activity within countries. The report concludes in part that while some 40 million people along the BRI corridor could be lifted out of poverty by the initiative in the long term, this is contingent upon a number of reforms first being implemented.
Expect delegates today to begin addressing these necessary policy reforms. Such reforms will likely include means of further liberalising trade, increasing private sector participation in the BRI and realising existing infrastructure projects. Delegates will also likely cite China itself as one country in need of reform, particularly focusing on increasing evidence of malinvestment in previous Chinese infrastructure investments, rising corporate debt and corruption.
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