Brazil decided against joining China’s Belt and Road Initiative (BRI) | Current Affairs | Vision IAS
News Today Logo

Brazil decided against joining China’s Belt and Road Initiative (BRI)

Posted 30 Oct 2024

2 min read

Brazil will be the second member of the BRICS after India not to endorse the BRI.

  • Previously countries like Italy and Philippines have announced to withdraw from BRI. 
A detailed map illustrating the route of BRI

About Belt and Road Initiative (BRI) 

  • Genesis: Initiated as 'One Belt One Road' in 2013, seeks to connect Asia with Africa and Europe via land and maritime networks.
  • Aim: Improving regional integration, increasing trade and stimulating economic growth.
  • It comprises: 
    • Silk Road Economic Belt (A trans-continental passage)
    • Maritime Silk Road (A sea route)
  • It involves major investments in infrastructure projects such as ports, etc. 

Key Concerns of India regarding BRI

  • Undermining India's sovereignty and territorial integrity: China's BRI project, the China-Pakistan Economic Corridor (CPEC) passes through Gilgit Baltistan region of Pakistan-occupied Kashmir
  • Competition: BRI’s financial incentives and low-interest loans for infrastructure may undercut Indian influence in South Asia.
    • Unsustainable debts by China to partner countries lead to debt trap making them vulnerable to China’s influence. 
  • Security: China’s growing influence in the Indian Ocean region is perceived by India as a security threat (String of Pearls Policy). 

Key Steps taken to counter BRI

  • Partnership for Global Infrastructure and Investment (PGII) and  Build Back Better World (B3W) Partnership by G7 group
  • India-Middle East-Europe Economic Corridor (IMEC), launched during India’s G-20 Presidency
  • International North South Transport Corridor (INSTC), Connecting India Ocean and Persian Gulf to the Caspian Sea. 
  • Tags :
  • India-Middle East-Europe Economic Corridor (IMEC)
  • BRI
  • Silk Road Economic Belt
  • Maritime Silk Road
Watch News Today