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‘One Belt, One Road’, first proposed in 2013, is an important initiative to create trade links between China and its Western neighbors. Taking inspiration from the ancient Silk Road the initiative will embrace more than 60 economies accounting for 60% of the world’s population and 46% of global GDP. The initiative will be supported by access to China’s accumulated $5 trillion in foreign reserves.
After more than 20 years of building roads, railways and airports, China now has a world-class infrastructure industry. Infrastructure employs roughly three percent of China’s working age population.
As China approaches a point where it can no longer deploy resources on domestic infrastructure investment, it is looking to re-orient this infrastructure industry to foreign markets. That is why infrastructure, in all its forms, is a clear priority of One Belt One Road.
This infrastructure focus has been given a powerful impetus through the Chinese government’s establishment of the $40 billion Silk Road Fund, the $100 billion Asia Infrastructure Investment Bank and the $100 billion New Development Bank.
The One Belt One Road policy in its aim to promote connectivity clearly complements China’s going out strategy and supports the export of Chinese infrastructure on a grand scale. Join the Australia China Business Council for a lunch seminar to hear from visiting Chinese and Australian experts on what the ‘One Belt, One Road’ initiative will mean for Australian businesses.
About the Speakers
Prof. Wang Yuzhu
Prof. Wang Yuzhu is a Research Fellow at the National Institute of International Strategy (NIIS) and the Chinese Academy of Social Sciences (CASS). He is also the Head of the Center for APEC and East Asia Cooperation (CASS) and the Head of the Department of Regional Cooperation (NIIS). Prof. Wang is one of China’s most respected voices on China-ASEAN relations.
Prof. Wang's full biography is available here.
Graham Fletcher is First Assistant Secretary of the North Asia Division in the Department of Foreign Affairs and Trade (DFAT), with responsibility for Australia’s relations with China, Japan and Korea. He has held this position since March 2015.
His previous role was managing DFAT’s Free Trade Agreement Division and concurrently lead negotiator for the China-Australia FTA which was concluded in November 2014. During 2011-13 he was posted to the Australian Embassy in Washington as Deputy Head of Mission (DHOM). Graham’s earlier career at DFAT has focused largely on China.
Date: 15 October 2015
Tickets: Members: $44, Non-members: $66