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Australia Rejects China Push on Silk Road Strategy

Mar 22 , 2017

Australia has rejected a Chinese push for a formal alignment of Canberra’s A$5bn state infrastructure fund with Beijing’s New Silk Road strategy, over concerns it could damage relations with the US at a time when it is asking Washington to do more in the region.

The Chinese initiative, also known as One Belt One Road (OBOR), envisages investing $4tn in port, road and rail projects overseas — and Beijing has been pressing Asia-Pacific economies to sign up to its vision.

But Canberra has confirmed there will be no agreement over Australia’s Northern Development Infrastructure Facility during a trip to Australia this week by Premier Li Keqiang.

FULL STORY HERE

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