China is trying to control the assets of other economies via “B&R”? Geoffrey Garrett: It’s a great initiative

During Shanghai Finance Forum 2018 jointly hosted by SAIF, CAFR and GFLF on December 15th, Geoffrey Garrett, Dean of the Wharton School of the University of Pennsylvania, stated that the “Belt and Road Initiative” (B&R) is critical to China over the next 5-6 years and it is also one of the focuses of the entire world.

Geoffrey Garrett mentioned that someone claimed that China has offered loans to some countries to help them build infrastructures, which fail to repay their debts, and in turn China controls their assets. In response, Geoffrey Garrett expressed his opinion. He pointed out that China's "Belt and Road" Initiative highlights win-win. China has excellent infrastructures, while infrastructure is one of the biggest challenges facing many emerging markets. Therefore, if China exports its infrastructures to Southeast Asia and other regions, it will liberate huge potentials, which is a good thing.

Geoffrey Garrett emphasized that the “B&R” must proceed because it is a great initiative.