• Tuesday, November 29, 2022

Business

China’s New Silk Road: Hammond to attend, Modi will skip summit

Guestlist for summit: China’s foreign minister Wang Yi

By: Rithika Siddhartha

CHINA will gather its friends and allies together for its biggest diplomatic event of the year in May, a summit on its New Silk Road plan, with most Asian leaders due to attend but only one from a G7 nation, the Italian prime minister. President Xi Jinping has championed what China formally calls the “One Belt, One Road” or OBOR, initiative to build a new Silk Road linking Asia, Africa and Europe, a landmark programme to invest billions of dollars in infrastructure projects including railways, ports and power grids. China has dedicated $40 billion to a Silk Road Fund and…

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