Britain wants closer cooperation with China over its landmark Belt and Road infrastructure scheme, finance minister Philip Hammond said on Friday at the start of a Beijing trip on which he hopes to seal a billion pounds ($1.34 billion) in deals.

China-US relations have gone through stages when they were threat-driven and interest-driven. They are likely to be increasingly security-driven in the future.

On November 14, 2017, Pakistan dropped its bid to have the Diamer-Bhasha Dam financed under the China-Pakistan Economic Corridor (CPEC) framework. The current Chairman of Pakistan’s Water & Power Development Authority has claimed that the conditions stated by the Chinese for financing Diamer-Bhasha “were not doable and against our interests.” These conditions included the Chinese ownership of the project, including operation and maintenance, and the securitization of the Diamer-Bhasha project by pledging another operational dam.

Since 2013, China has been pursuing its “Belt and Road” initiative, which aims to develop physical infrastructure and policy linkages connecting more than 60 countries across Asia, Europe, and Africa. If a few conditions are met, the economic case for the initiative is strong.

The Shanghai Cooperation Organization achieved a major boost in momentum at last month’s Astana summit, but realizing its potential will require consistent leadership and resources over the coming year from the Chinese presidency.

Giving priority to important institutional innovations and rule-making will not only provide opportunities for promoting China’s industrial capacity cooperation and manufacturing upgrading, but also promote a new round of prosperity-oriented growth for global trade and new globalization.

During his historic visit to Sri Lanka in September 2014, President Xi Jinping described the island as a “splendid pearl” while the two countries signed over twenty bilateral agreements in Colombo. Symbolized by the Buddhist-inspired Lotus Tower on the waterfront of the picturesque Beira Lake in the commercial district, the globalizing BRI is reviving the ancient glory of “trade-for-peace” to bring about a more harmonious and prosperous “Pacific New World Order” for the Asia-Pacific region and beyond.

As the focus of the West was fixed in Greece and Iran, the 7th BRICS Summit began a massive shift from a dialogue to an economic partnership – one whose full impact will be witnessed in the coming years.

Neighbourhood diplomacy is becoming a foreign policy priority for official Beijing, and demonstrates that China is willing to undertake the role of mediator in Afghanistan and accelerate regional efforts to bring all relevant parties to the negotiating table.

The Asian Infrastructure Investment Bank will help finance billions in infrastructure projects around Asia, and also challenge the existing financial institutions. Curtis S. Chin, provides suggestions on how the new institution should organized to be efficient, environmentally stringent, and respectful of local rights.