Triangular cooperation with developed countries offers smoother path forward for BRI

By Hu Weijia Source:Global Times Published: 2018/10/28 22:38:39

German enterprises have been encouraged by their country's government and non-government organizations to get involved in China-Germany cooperation in third-country markets in Africa.

The news came as Japanese Prime Minister Shinzo Abe agreed with Chinese leaders to step up cooperation in infrastructure projects in third-party markets amid thawing diplomatic ties.

Some Western countries have been on the alert against China-proposed Belt and Road initiative (BRI), claiming that it has been a form of strategic leverage to expand its influence in Asia, Africa and Europe. However, those countries' attitudes toward the BRI are gradually changing. China should seize this opportunity to enhance cooperation with developed economies in third-country markets.

The BRI is not designed as a political instrument to enhance China's bilateral ties with the participants, but as an open platform for all of them to strengthen communication among themselves. Multilateral collaboration will be a powerful method of giving full play to their respective advantages.

Despite its success in the developing world, China's approach to the BRI still faces challenges. It will be greatly significant to attract more developed economies to join BRI projects through triangular cooperation. The participation of developed countries will bring new momentum and help local companies learn advanced technologies and concepts from developed economies.

For instance, there are many potential cooperation opportunities for China and Europe in Africa, which will help African countries overcome challenges such as debt problems.

It's possible that the participation of Germany and Japan in triangular cooperation with China could create a demonstration effect. That is only the beginning and we believe many more developed countries will follow suit in the coming years. Though triangular cooperation under the BRI framework is still at a nascent stage, it has great potential.

China's increasing interaction with developed economies under the BRI framework, which is of great significance for global economic governance, has attracted rising attention. China is a latecomer among big powers in terms of developing economic ties with Africa and Southeast Asian countries.

Triangular cooperation can prevent competition between China and the developed world from evolving into a big power game and promote economic integration in the most effective way.

The author is a reporter with the Global Times. bizopinion@globaltimes.com.cn



Posted in: EYE ON ECONOMY

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