2019年CRI B&R creates world's second largest economic bloc after EU: report

 

A new Chinese-backed report contends the Belt and Road Initiative (BRI) has now created the world's second largest economic bloc¹ behind only the European Union (EU).

The report on the Belt and Road trade and investment index has been compiled by the China Center for International Economic Exchanges and several other think tanks.

It notes that trade among countries connected to the Belt and Road Initiative has been expanding remarkably² since it was firstly initiated³.

"The trade volume among China and other Belt and Road (B&R) countries surpassed 6 trillion U.S. dollars from 2013 to 2018, and the annual growth rate is faster than that of China's overall foreign trade. The trade volume between China and other B&R countries accounted for 27.4 percent of China's total trade in goods in 2018, compared to 25 percent in 2013. China has become the biggest trading partner of 25 Belt and Road countries," says Zhang Xiaoqiang, a vice⁴ chair with the China Center for International Economic Exchanges.

The report shows China's direct investment in Belt and Road countries surpassed 90 billion dollars in the 2013 to 2018 period.

It notes a number of infrastructure⁵ construction projects have already been completed through the BRI, which it suggests is boosting inter-connectivity.

The report says China tops the trade index among 41 countries surveyed, followed by Singapore and India.

It also argues that trade liberalization is being increased, while risks are declining.

Researcher Zhang Monan with China Center for International Economic Exchanges argues the Belt and Road has formed the second largest economic bloc in the world after only the EU.

"The trade volume among countries and regions along the Belt and Road is equivalent to 65 percent of the volume among EU members, but is much higher than that of the North American Free Trade Area (NAFTA). More and more countries and regions along the initiative are taking part in trade and investment, increasingly creating trade potential. The growth rate of cross-border capital flows contributed by the Belt and Road countries is also much faster than other parts of the world," says Zhang Monan.

The report says BRI countries and regions contribute 31.6 percent of global cross-border capital flows, compared to 23 percent by NAFTA and 21.2 percent by the EU.

The report argues this has made countries along the Belt and Road the world's most important destination for foreign investment flows.

1 bloc   

n.集团；联盟

参考例句：

• A solid bloc of union members support the decision.工会会员团结起来支持该决定。
• There have been growing tensions within the trading bloc.贸易同盟国的关系越来越紧张。

2 remarkably   

ad.不同寻常地，相当地

参考例句：

• I thought she was remarkably restrained in the circumstances. 我认为她在那种情况下非常克制。
• He made a remarkably swift recovery. 他康复得相当快。

3 initiated   

n. 创始人 adj. 新加入的 vt. 开始，创始，启蒙，介绍加入

参考例句：

• He has not yet been thoroughly initiated into the mysteries of computers. 他对计算机的奥秘尚未入门。
• The artist initiated the girl into the art world in France. 这个艺术家介绍这个女孩加入巴黎艺术界。

4 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

5 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。