Minister Shanmugam’s Speech on the Belt and Road Initiative in (Mostly) Pictures
1. China will be a superpower.
2.Change of relative power between America and China
3. These trends are irreversible. OBOR is both a result of these trends and will accelerate them.
4.Silk Route was key in world trade for most of history. With OBOR, China tries to recreate this.
Current international situation will accelerate the geopolitical trends mentioned
5. China has been very strategic in investing in Asia, Africa and South America.
6. America First has been suggested. If this continues or intensifies, countries will be more drawn to OBOR.
One Belt One Road Initiative
7. Arguably the most ambitious infrastructure project in history. Trillions of dollars in infrastructure spending expected, in over 60 countries.
Potential to bring Eurasia, China and Southeast Asia even closer together. If it succeeds, future trade routes could look like this
What it means for Singapore
10. We were among the first few countries to support the AIIB (one of the banks financing OBOR). We are already involved in and benefitting from OBOR.
11. Will continue to support such initiatives and be friendly with all. Need to do this to remain relevant.