Chinese President Xi Jinping is hosting the Third Belt and Road Forum at the Great Hall of the People in Beijing, signaling China’s continued efforts to present itself as an alternative leader in the international arena. Xi’s Belt and Road Initiative, aimed at creating a global network of infrastructure projects, is part of his vision to establish an alternative to the US-led world order, with the backing of Russian President Vladimir Putin.
In recent years, Xi Jinping has intensified his efforts to project China as a global leader, particularly as the United States has taken steps to reduce its reliance on Chinese labor and explore trade alternatives in South Asia, including India.
The Belt and Road Initiative, a hallmark of Xi’s foreign policy, envisions how global security and development should be ensured in the 21st century. Putin has expressed support for this initiative, emphasizing their shared vision for a fairer, multi-polar world and mutually beneficial cooperation between their countries.
During the forum, attended by representatives from over 140 countries, China aims to celebrate a decade since the launch of the Belt and Road Initiative and demonstrate its contributions to global development. This signature foreign policy has led to significant Chinese investments in infrastructure projects worldwide, such as ports, power stations, bridges, railways, and roads. Over 150 countries have participated in the program, which China claims has mobilized up to a trillion dollars in investments, fostering growth in developing nations.
However, China faces domestic challenges, including a slowing economy, high unemployment, and recent political changes within the ruling Communist Party. Despite these issues, Beijing seeks to downplay these challenges and project its power as an exemplar of superior leadership.
The Belt and Road Initiative has raised concerns due to its environmental and financial impact, including its contribution to China becoming the world’s largest debt collector. Xi Jinping, in his address at the forum, dismissed criticisms and reiterated his commitment to the initiative. He also proposed an eight-part action plan for the Belt and Road Initiative, including the removal of restrictions on foreign investment in Chinese manufacturing and an initiative on global artificial intelligence governance.
