Читать книгу Регионы в современном мире: глобализация и Азия. Зарубежное регионоведение - Коллектив авторов, Ю. Д. Земенков, Koostaja: Ajakiri New Scientist - Страница 14

The main finding of the study is summed by under the following subheadings: OBOR and Impact on the Middle East; what do countries get in return?

As President Xi Jinping has increased China’s effort to take a more active role internationally, the Middle East has become one of the major regions for staging the OBOR initiative. In July 2018 in a gathering of 21 Arab nations in Beijing, President Xi assured substantial loans and financial aid to support economic development in the region. During the meet the Chinese government also lucratively elevated their relationship to a “strategic partnership23.”

Effectively, China has planned to launch a mini Marshall Plan for the Middle East and North African region. The main objective of the China-Arab State Cooperation Forum (formed in 2004) is the economic development of the region. China sees economic development as a key to resolve various security and humanitarian problems in the region.

China and the Middle East have mutual interests and their economic relationship is now expanding beyond oil. Chinese companies are pursuing major infrastructure projects in the Middle East region as part of Belt and Road initiative. The Chinese organizations created to support the Belt and Road Initiative is readily providing financing for much-needed infrastructure. Like for instance in Egypt, the Chinese have declared to invest around $50 billion to help the development of the new administrative capital.

The demand of renewable energy, fintech, artificial intelligence, and electric cars are increasing in the Middle East; sectors where China is playing a leading role. Major portion of China’s financing will go toward supporting projects and sectors where China is a global leader, which is being welcomed by the Middle Eastern countries.

Apart from loans and financial aid for economic development, it was also announced at the Arab Summit for the creation of financial consortium. Wherein Arab and Chinese banks will establish a fund of around $3 billion to support “economic reconstruction” and “industrial revival.” The main objective of this group will be to promote cooperation in the fields of oil and gas, nuclear, and clean energy.

Considerably, President Xi has called upon the Arab countries to commence with negotiations for a free trade agreement between China and the Arab countries. Such negotiation is part of President Xi’s larger strategy of exerting its economic influence to negotiate “free trade” agreements with major regions around the globe.