Beijing [China], May 2 (ANI): Australia's canelling of the controversial Belt and Road (BRI) agreement with China citing the deal as against its national interest, has posed as a 'loss of face' for President XI Jinping and could prompt other countries to back away from similar deals.
China s BRI project losing face after Aus cancels deal
02 May 2021, 15:55 GMT+10
Beijing [China], May 2 (ANI): Australia s canelling of the controversial Belt and Road (BRI) agreement with China citing the deal as against its national interest, has posed as a loss of face for President XI Jinping and could prompt other countries to back away from similar deals.
Last month, the Scott Morrison government scrapped the agreement signed between the state government of Victoria and the National Development and Reform Commission of China, which was signed on October 8, 2018. It also cancelled a framework agreement signed between the two sides on October 23, 2019.
Last Updated:
2nd May, 2021 13:29 IST
Australia Pulls Out Of BRI Pact With China; Move Seen As loss Of Face For Xi Jinping
Australia scrapped the controversial Belt & Road (BRI) pact with China claiming that the deal was contrary to the national interest. Will more countries follow?
Australia scrapped the controversial Belt and Road (BRI) agreement with China claiming the deal was contrary to the national interest. Lately, it appears China s Xi Jinping has witnessed a cold shoulder while countries across the globe either cleared their stance or strengthened their relations with one of the world s largest trading resource.
Australia s PM Scott Morrison eliminated the agreement signed between the State government of Victoria and the National Development and Reform Commission of China, which was signed on October 8, 2018, last month. Australian Federal government even terminated a framework agreement signed on October 23, 2019.
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Australia has canceled infrastructure projects that were meant to boost trade with Beijing. The move is a loss of face for Chinese President Xi Jinping and could prompt other countries to back away from similar deals.
Chinese loans are funding rail, road and power projects across Asia, Europe and Africa
The Australian government may have only halted a couple of small joint-infrastructure projects with China, but the response from Beijing to the decision was one of rage and threats. The Chinese embassy in Canberra called the halt unreasonable and provocative and vowed revenge.
Australia has canceled infrastructure projects that were meant to boost trade with Beijing. The move is a loss of face for Chinese President Xi Jinping and could prompt other countries to back away from similar deals.