China increases Middle East investment as US backs out of region
Fox News
The Belt and Road Initiative would help China impose greater influence over Central Asia and the Middle East through increasing trade and construction contracts.
Overall 2021 BRI investment dropped from $60.5 billion to $59.5 billion as China follows through with a plan to drop overall foreign investment to $550 billion between 2021 and 2025 – down 25% from $740 billion between 2016 and 2020 – but investment increased in Africa and the Middle East. Iraq in particular benefited from around $10.5 billion in construction contracts, the report found. Chinese President Xi Jinping attends an event commemorating the 110th anniversary of the Xinhai Revolution at the Great Hall of the People in Beijing Oct. 9, 2021. (AP Photo/Andy Wong) Hadi al-Amiri, head of the Fatah (Conquest) Alliance, looks on during a press conference in Iraq's capital of Baghdad Dec. 4, 2021. (Ahmad Al-Rubaye/AFP via Getty Images) Chinese President Xi Jinping speaks with Russian President Vladimir Putin via video link from the Great Hall of the People Dec. 2, 2019, in Beijing. (Noel Celis - Pool/Getty Images) Chinese President Xi Jinping speaks with Russian President Vladimir Putin via video link from the Great Hall of the People Dec. 2, 2019, in Beijing, China. (Noel Celis - Pool/Getty Images) Russian President Vladimir Putin shakes hands with his Chinese counterpart Xi Jinping at the Kremlin in Moscow, Russia, June 5, 2019. (REUTERS/Evgenia Novozhenina/Pool)
"Belt and Road Initiative is almost like a Christmas tree, in the sense that you can hang almost anything on there," Dean Cheng, senior research fellow on Chinese political and security affairs at the Heritage Foundation, told Fox News Digital.
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