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Saturday, April 27, 2019

Beijing seeks boost for vast trade initiative

BEIJING — President Xi Jinping called for more countries to join China’s sprawling infrastructure-building initiative as other leaders expressed support Saturday for a project Washington worries is increasing Beijing’s strategic influence. Xi spoke at a gathering of leaders to celebrate the multibillion-dollar Belt and Road Initiative, his signature foreign project. The upbeat tone of the two-day forum, at which Russian President Vladimir Putin and other leaders praised the initiative, is a setback for the Trump administration, which is trying to discourage other countries from participating. Xi promised to promote high financial, environmental and other standards in response to complaints about debt and other problems. That has the potential to heighten tensions with Washington by making the initiative more attractive to additional participants. “We need to encourage the full participation of more countries and companies,” the Chinese president said at the event at a conference center outside Beijing. Xi tried to dispel complaints Belt and Road does little for developing countries that have borrowed from Beijing to build ports, railways and other facilities. Xi said his government wants to “deliver benefits to all.” Additional agreements worth a total of $64 billion were signed during the forum, Xi said. He gave no details of what those agreements covered or who signed them. A joint statement issued by leaders at the meeting expressed appreciation for the “important opportunities” created by Belt and Road and said it offers “potential for economic and social development.” Participants included the presidents of the Philippines, Kenya and Egypt, prime ministers of Italy, Greece and Pakistan and officials from Indonesia, Germany and other...


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