I know exactly what you mean. I remember the days when travelling to Shaoguan from Guangzhou took almost a days bus ride on an unpaved mountain road. Now it's a 75 minute bullet train ride.
How things have changed!
China's overland Silk Road and Maritime Silk Road Thread
- Thread starter SampanViking
- Start date
I know exactly what you mean. I remember the days when travelling to Shaoguan from Guangzhou took almost a days bus ride on an unpaved mountain road. Now it's a 75 minute bullet train ride.
How things have changed!
Ethopian has one of the prettiest women in the Africa...continue
Mixed cabin attendant team.
Guest passengers of the trail run of passenger service.
to be continued...
Equation
Lieutenant General
Proving OBOR can be inclusive and win-win for everyone,
As Beijing pushes to open more markets to Chinese companies, General Electric and other U.S. industrial giants are following them in
ENLARGE
General Electric is partnering with China in emerging markets. Shown, a GE wind turbine in Darkhan-Uul Province in Mongolia. Photo: Taylor Weidman/Bloomberg News
By
Brian Spegele
Oct. 14, 2016 8:46 a.m. ET
BEIJING— Co. is targeting billions of dollars in new sales in risky markets from Pakistan to Egypt as it and other U.S. industrial giants seek to piggyback on Beijing’s push to open more markets to Chinese companies.
As China’s economy slows and shifts away from the heavy industry that long drove growth, multinationals are being driven to follow China’s state giants deep into the developing world. In the process, many—including Inc. and AG—are throwing their support behind across a wide swath of geography.
GE has been among the U.S. companies most aggressively seeking to capitalize on President ’s initiative, known as “.” By partnering with Chinese companies in emerging markets, GE said, it can boost sales of its equipment such as boilers for coal plants and wind turbines.
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On the Road
Companies see opportunities in China’s ‘One Belt, One Road’ plan
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- What is it? An initiative championed by President Xi Jinping to boost infrastructure building and open markets to Chinese companies from Asia to Europe.
- Where to? The plan is estimated to encompass more than 60 countries from Southeast and Central Asia to the Middle East and Europe. They include resource-rich nations such as Saudi Arabia, but also poorer countries such as Bangladesh.
- Why now? China’s domestic growth is slowing, particularly in manufacturing and heavy industry. An aim of One Belt, One Road is to boost overseas opportunities for struggling Chinese companies.
- Who is paying? Several Beijing-backed financial institutions are involved. They include the new Asian Infrastructure Investment Bank, which is beginning to finance projects in the region.
The aviation-to-health-care conglomerate thinks it can attract annual orders of more than $5 billion in the coming decade in the roughly 65 countries targeted under One Belt, One Road, said John Rice, GE’s vice chairman who leads global operations, That is more than five times as much as in recent years in those countries. Much of the growth will come from supplying power infrastructure in underdeveloped markets, Mr. Rice said.
“We have to recognize that markets like China’s have evolved,” he said. The Chinese government is saying that “companies can’t just rely on the domestic market to be successful. They have to go global.”
Take Pakistan, one market that has been aggressively targeted by Chinese engineering companies and GE. Beijing has committed to spending at least $35 billion on financing and building power plants in Pakistan by 2030. GE said its orders in the country have risen to more than $1 billion today compared with less than $100 million five years ago.
The company is joining other U.S. and global industrial giants saying they are eager to do more business with Chinese companies as they go global. Top executives at heavy-machinery maker Inc., shipping giant A/S and others have also publicly supported the One Belt, One Road plan.
ENLARGE
John Rice said General Electric thinks it can attract annual orders of more than $5 billion in the coming decade in the roughly 65 countries targeted under One Belt, One Road. Photo: Reuters
“Everybody is figuring out that this is a serious effort,” Mr. Rice said. “It is going to happen with us or without us.”
GE executives say the company is already supplying Chinese firms with natural-gas turbines in Pakistan and Bangladesh, wind turbines in Kenya, and hydropower equipment in Laos, among other deals.
GE has done business in China in one form or another for more than a century, setting up a lightbulb factory in the northern city of Shenyang as early as 1908. It employs around 22,000 people in China, though its revenue was near flat last year, compared with double-digit growth in recent years, reflecting China’s slowdown.
Underlining its support for China’s global expansion, GE hosted on Friday nearly 1,000 industry players at a lavish compound the Chinese government frequently uses to receive foreign dignitaries. A former Chinese vice foreign minister was in attendance.
For China’s companies, the international ambition is born out of necessity. Left with vast oversupply of everything from steel to advanced industrial parts , they must look for growth outside China’s borders.
The push comes with massive challenges, including a shortfall of financing for infrastructure in frontier markets. Even the has been called China’s answer to the World Bank, hasn’t been enough to close the gap, Mr. Rice said.
Yet, seeking out new business across frontier markets will be key for GE’s growth, analysts said. The company’s power segment is already one of its biggest business lines, and increasing revenue will be tough in developed markets such as the U.S.
“All the new capacity is happening in the fast-growth markets,” said Deane Dray, an analyst at RBC Capital Markets, which said it has done business with GE in the past year. “And that’s where GE is focused.”
—Saeed Shah in Islamabad, Pakistan, contributed to this article.
Write to Brian Spegele at [email protected]
Hendrik_2000
Lieutenant General
GE is wise in throwing its weight behind OBOR GE is the best provider for Steam Turbine, Gas Turbine and even Hydro turbine bar none.
They are no 1 when it come to electric generation having pioneer the technology. They will profit handsomely
Yes it is win win for everybody and China right now is the lowest cost provider for engineering contractor and they have the financing backing too which is a complete package hard to beat.
China benefit because the domestic market is saturated right now and the need to sterilized the offshore dollar.
The developing world get world class infrastructure at discount
They are no 1 when it come to electric generation having pioneer the technology. They will profit handsomely
Yes it is win win for everybody and China right now is the lowest cost provider for engineering contractor and they have the financing backing too which is a complete package hard to beat.
China benefit because the domestic market is saturated right now and the need to sterilized the offshore dollar.
The developing world get world class infrastructure at discount
Hendrik_2000
Lieutenant General
Look at this lady, she doesn't speak a word of Kazak but it doesn't prevent her from moving to Khorgas at the border of Kazak and China and that show the enterprising spirit of Chinese people
And there is plant to provide rail line from Tacheng to Karamay a 350 km line connecting Pacific to Europe and cut the travel to 8 day vs 30 days for sea route.
This is the 3rd freight line from China to Europe
This is the first line
And there is plant to provide rail line from Tacheng to Karamay a 350 km line connecting Pacific to Europe and cut the travel to 8 day vs 30 days for sea route.
This is the 3rd freight line from China to Europe
This is the first line
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The history of Marco Polo's travels to and from China & subsequent land routes for trade from Europe to China & vice versa along the "Silk Route" were beneficial to open the markets then. Also, well known are the Maritime Routes (7 journeys by the famous Adm Zeng He in the 16th Century. His fleet sailed to South East Asia, South India (Calcutta) to Southern Africa, and even to Mecca (ME). The respectable Adm Zeng He was not only a Eunuch, but also a Chinese Muslim. It is only obvious that China is reviving these land and maritime "silk" trading routes. Hopefully China will not follow former Western powers who had their colonial agendas in Asia. The FON along the maritime routes are now important, and any belligerent moves by any party whether US or China, or any other country will only disrupt trade and importantly peace & stability in the region.
Just noting that Zheng He's travels were in the early 1400s aka the 15th century.
He sailed a century earlier.
The silk road, before this name was given, was active more than two thousand years ago, perhaps much earlier.