As the international economic environment is rather complicated, B&R will involve enormous investments, long construction cycles and slow payback, with various risks and challenges. Many projects are well underway, however, from Indonesia to Central Asia, and more and more countries and regions are aligning with the B&R strategy and China’s commitment to mutual benefit.

Connectivity is a shared interest for China and Southeast Asia, and the Maritime Silk Road represents part of the continuing efforts to highlight this. Southeast Asia is important for China’s neighborhood and periphery diplomacy; hence the management or resolution of regional concerns represents a continuing challenge for Chinese foreign policy.

After the tribunal’s categorical ruling on the South China Sea, China’s new strategy could be to lower the temperature by reframing the issue away from rocks, sand and physical territory. It could then seek to reframe the issue around the potential multilateral benefits of China’s Maritime Silk Road concept.

EU engagement in Central Asia has been reactive than proactive. U.S. withdrawal in Afghanistan, and the amalgamation of EU expertise and the Chinese financial power may significantly help mitigate the effects of poverty in Central Asia. Yet, at this stage these prospects are detached from the reality and embody rather normative aspirations.

Chinese leadership’s recent engagements points to their persistent pursuit of its vision of connectivity named One Belt One Road (OBOR). New areas are now being added to the list.

China and its Eurasian neighbors likely discussed the future of Central Asian security while attending the Chinese military parade. Chinese leaders may have to assume a more prominent security role in Central Asia and talks with U.S. officials can make this process more manageable.

Although One Belt, One Road is hailed as one of the grandest flagship projects of Beijing, it may have a bumpy start in Central Asia. Corruption scandals may overshadow laudable development achievements, whilst the new Silk Road may emerge as the Golden Road for kleptocratic governments and rent-seeking elites.

Far from competing with US interests, the two meetings offer blueprints for more and better cooperation with Washington in a new world order.

More than 60 countries and institutions have embraced President Xi Jinping’s call for connectivity programs both within Asia and between Asia and Europe, both by land and by the sea, to strengthen traditional infrastructure and build highways of trade, finance, and cultural exchange.

It’s my great pleasure to be invited to speak at the Singapore-China Business Forum. Let me commend the organizers for taking this timely and important theme.