Myanmar and China ink dozens of deals to accelerate Belt & Road initiative


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Myanmar and China ink dozens of deals to accelerate Belt & Road initiative

On Saturday, the 18th of January 2020, China, the world’s second-largest economy and the mastermind behind the Belt & Road initiatives aimed at transforming the former silk route, an authorized trade route connecting South-eastern part of Asia and Europe, had signed off dozens of agreement with its closest ally in the Southeast Asia, Myanmar, in a bid to step up infrastructure projects for the Belt & Road Initiatives, as China seemed to be renovating its approaches to boost up regional influence at such a neighbouring zone which had been leaning more and more towards the west.

Nonetheless, although there had been a flurry of optimisms circulating the infrastructure agreement with Beijing during Chinese President Xi Jinping’s recent visit in to the resource-rich Southeast Asian nation, remarking the first visit of a Chinese leader in to Myanmar in nearly two decades, but sources said no major projects had yet to be agreed upon.

Aside from that, following Xi’s two-day visit in to Myanmar that pledged to many projects but resulted in an empty coffer at the end of Saturday (January 18th), several analysts were quoted saying Myanmar would likely to remain cautious over Beijing’s investments until a general election as early as this year.