SHENZHEN, China, June 6, 2017 /PRNewswire/ -- The Future of the Belt and Road: Long-term Strategic Issues is a monograph for private circulation released today by the Qianhai Institute for Innovative Research, an independent, non-profit, private think tank in China. This monograph is written by Andrew Elek with the assistance of John Wylie and Selwyn D'Souza. It draws a clear map for specialists and the general public to understand the Belt and Road (B&R) program in terms of a) interpretations of the grand vision and scope of cooperation; b) foundations for success; c) challenges, risks and opportunities in the process of implementation; d) problems of financing and the ways to widen its sources; and e) the ways to facilitate cross-border flows of people, information and products.
The authors believe in the principles of openness, transparency, mutual benefit, mutual trust, mutual respect, and cautious evolution based on essentially the Asian mode of international cooperation, such as ASEAN and APEC. This leads the authors to detailed discussions of the principles and the challenges in the coming years for putting these sound guiding principles into practice.
Given the fact that the capacity of most participating governments is very limited, this report proposes a more entrepreneurial approach to catalyze private sector investment in infrastructure projects. In this way, it will not only allow private capital to participate at reasonable costs but will also reduce the risks imposed on governments.
Catalytic Enterprises (CEs) are introduced for financing infrastructure in developing economies. The operation of CEs is based on small teams of professionals that are formed to help to drive the process of development cycle. Initial funds for construction could be provided by China (Silk Road Fund) or by the Asian Infrastructure Investment Bank (AIIB) to make a quick start. Once some well-structured projects begin to operate they would then be re-financed by private investors, and the public funds can be recycled into new projects. In this way, funds will flow through different channels to support the designing and construction of more B&R projects. Private sector investment provides a long run source for financing B&R. With adequate financial capacity, the principles of openness, mutual benefit, mutual trust and mutual respect can be easier achieved. Furthermore, it can facilitate the process of building sound foundations for international policy coordination.
After being promulgated for four years, the B&R Initiative has attracted great attention and made significant progress. This monograph also highlights that the success of B&R programs depends on three key factors which are a) willingness of participating governments to work together, b) objective assessments of projects, and c) seamless data connectivity among all participating economies.
Paperback: 364 pages
Publisher: Qianhai Institute for Innovative Research (April, 2017)
The full monograph can be found here: http://qiir.org/siteen/Books/1733_1613.html
About the Authors:
Andrew Elek was a Senior Consulting Fellow of Qianhai Institute for Innovative Research and is a Visiting Research Fellow at the Australian National University. He has worked and published extensively on international economic cooperation, with an emphasis on open regionalism and improving connectivity. He had a central role in the establishment of the APEC process in 1989.
John Wylie has been a strategy adviser to large corporations with experience in public policy. Currently, he is a CEO of Papua New Guinea Sustainable Development Limited, a fund which invests in infrastructure and other development initiatives.
Selwyn D'Souza is a strategist, M&A advisor, entrepreneur and educator with deep experience in professional services, mining, major projects and infrastructure.
Qianhai Institute for Innovative Research (QIIR) was established in July 2014 in Qianhai, Shenzhen, as an independent, non-profit, private think tank engaging in public policy studies. The mission of QIIR is to conduct independent and innovative research on public policy related to Qianhai's modern service industry development and its implications for China and the Asia Pacific region. The studies of QIIR are innovative with respect to the topics chosen, methodologies employed and implications for policy formulation. QIIR will provide intellectual input for policy-makers, serve the private sector with consultancy work and commissioned research. QIIR's vision is to become a distinctive, world-class think tank producing quality research and innovative ideas for sustained economic and financial development in China and globally. QIIR was honored with the Best New Think Tank in the 2017 Global Go To Think Tank Index Report published by University of Pennsylvania.
Contact person: Yolanda Wang
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SOURCE Qianhai Institute for Innovative Research