China's belt loosening
China's economy isn't skipping ahead as it once did, but its role as an engine for global expansion is only rising
There is a Chinese proverb that says: "To become rich, one must first build roads." As IMF president Christine Lagarde pointed out in mid-May during China's Belt and Road summit, with roads goes new ports, power and other industrial infrastructure as well as vastly improved social benefits from schooling to health. It's only now that economists are beginning to recognise that the vast Belt and Road (or One Belt, One Road—Obor) initiative, popularly known as the "Silk Road", will drive demand for energy right across the region for years to come. And Obor is gathering momentum at the very time that the Chinese economy is steadily becoming more consumption than manufacturing and capital-led. Ac
Also in this section
17 May 2024
The latest drought crisis is passing, but longer-term solutions are in motion, explains Panama Canal Authority Administrator Ricaurte Vasquez Morales
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way
13 May 2024
But optimism about island nation checked by competition around African upstream investment and history of false dawns