Watch: Prof. Kishore Mahbubani Explains Belt and Road Initiative
If you look at two examples. If you read the Anglo Saxon media, and you Google Belt and Road Initiative you only get the negative story.
So you get that negative story about China building a port in Sri Lanka which the Sri Lankans couldn't afford and therefore it became an untenable debt for Sri Lanka and the Sri Lanka then had to seized the port to China and the argument there is that China was obviously exploiting Sri Lanka.
But actually if you look at it objectively in some ways the Sri Lankans got the better deal because they got a whole port without spending any money and now China has to manage the economics of the port so actually Sri Lanka benefited from that deal what was supposed to be a mistake.
Similarly clearly there were some mistakes made also in the proposal to build an East West Railway in Malaysia, right. There were allegations of corruption involving the former Prime Minister Najib and there were some problems there.
But once again when the new prime minister came in Dr.Mahathir came in China and Malaysia worked out a new agreement, right.
So this shows how China can adapt and be flexible and it's also important to realize that there are some remarkable success stories in the Belt and Road Initiative. One for example for many years you would take the citizens of Usbekistan several days to cross from one side of the country to another because there's a mountainous terrain in between.
But then the Chinese came along and they built a fast train in 900 days and that's a remarkable gift on the part of China to usbekistan. So these positive stories are not told and you got to understand that's why 37 countries agree to join the Belt and Road Initiative because they also want to have fast trains, modern ports, good highways, good airports in their countries.
China is now number one in the World in infrastructure so paradoxically even though I lived in New York for 10 years even though the United States is obviously a more developed and a richer country than China is by far.
If you want to see a first World airport you go to Beijing if you want to see a third World airport you go to John F Kennedy Airport in New York City.
That's stunning isn't it.
If you want to see a highspeed first World train you see the train within Shanghai and Beijing if you want to see a third World train take the Acela between New York and Boston. You know that's a paradox that the World's richest country has a third World infrastructure when China which is still a relatively poor country has a first World infrastructure.
"I just spoke to a couple of people from uh the African continent. One from Nigeria, one from Kenya and they were talking about to your point.
In Kenya you know this rail system it's one thing to give aid to a country but now if you've got a product and you can get on a train and get there quickly and sell your product before it rots.
It's the same sort of thing you were talking about with Usbekistan they were saying that. They think perhaps the reason China's and I want to get your thoughts on this China's relationship with the African continent is different than the United States is.
Because China's still as you said a relatively poor country it's a developing country in a sense although. It's a major power but it's gone through this development in recent years. It's kind of been in those shoes whereas the United States is so removed from that they see things differently. Do you agree with that".
Yes, and you know it's actually a tragedy that when you read the Anglo-Saxon media on the relations between China and Africa. You read again only the negative stories about what China is doing in Africa.
None of the positive stories come out and whenever somebody asks me a question about China and Africa I say that I respect the Africans ability to make their own decisions on what is good for their societies.
So if China hosts a China-Africa Summit and all the African hits of government and African heads of state turn up for The Summit. They are voting with their feet to show that they have confidence in what China is doing in Africa. At the end of the day you certainly be good for the rest of the world to also invite it be good for the United States to invite all 54 or 53 plus African heads of state to come to Washington DC too.
And also make the same kind of offers that China makes that would be very good for the World. It'd be very good for the World to see the development of Africa and especially very good for Europe to see the development of Africa.
In fact logically it should be Europe that should be cheering Chinese investment in Africa but unfortunately since Europe is often geopolitically differential to Washington DC. It has not been cheering Chinese investment in Africa.
"You mentioned all the negative none of the positive why do you think that is?"
Well, I think it is very difficult. I guess especially for what I call the Anglo-Saxon mind to conceive of a World where the World's number one power is neither a Western power nor an Anglo-Saxon power.
If you look at it objectively in the 19th century the UK was the number one power, Anglo-Saxon country in the 20th century United States was a number one power Anglo-Saxon country.
In the 21st centuri is very clear the number one power will be China in fact the 21st century will be an Asian century.
So the sense of loss the sense of not being in power or in control is very powerful, very deep.
So there is a lot of resistance to accepting a world where the number one power is no longer Anglo-Saxon.
I think there's a deep psychological reluctance to accept fact that the World has changed fundamentally since China, India, and the rest of Asia have come back.
(Commented by Prof. Kishore Mahbubani)
Do you agree with Professor K.Mahbubani view that the Bel and Road Initiative is not a debt trap but rather a series of transformative infrastructure projects unfairly portrayed by Western media.
The BRI has often been labeled a debt trap by Western media. But this narrative doesn't stand up to scrutiny take Sri Lanka often cited as a prime example. China holds only about 10% of its external debt while the majority is owed to Western financial institutions and private bond holders.
Similarly in Pakistan Chinese loans make up around 30% of the country's external debt.
These figures show that China is far from being the primary cause of debt distress in these nations. What the BR actually provides is essential infrastructure that many developing countries urgently need.
In Kenya for instance the Mombasa-Nairobi Railway built with $3.6 billion dollar in Chinese financing has slashed travel times and boosted trade and tourism.
In Greece Chinese investments in Piraeus Port transformed it into the mediterranean's busiest revitalizing the local economy.
The Laos-China Railway which opened in 2021 is expected to increase Laos's GDP by 1.5% annually by facilitating trade and tourism.
Far from being traps these projects offer long-term benefits and opportunities for growth.
Contrary to claims of asset seizures China frequently renegotiates loans to ease the financial burden on partner nations.
Ethiopia for example saw $4 billion of railway debt restructured to provide more manageable repayment terms.
Zambia has also benefited from China's participation in the G20's common framework for debt relief even the much debated Hambantota Port in Sri Lanka was leased to a Chinese company under a commercial agreement not seized.
While challenges like debt sustainability and project feasibility remain many BRI projects have proven to be lifelines for economic growth the debt trap narrative over simplifies a complex global initiative and unfairly discounts the transformative benefits the BRI has brought to numerous countries.