To provide
a forum for informed debate about global economic issues that affect Kuwaiti
policymakers, investors, and businesses, the U.S. Embassy and Reconnaissance
Research hosted a discussion about China’s “Belt and Road Initiative” at the
Kuwait Chamber of Commerce and Industry on Tuesday, April 6.
Peter
Raymond, a prominent advisor on infrastructure projects,
presented
an analysis of Belt and Road Initiative projects in the Middle East and Asia.
He described both the benefits and the issues these projects have encountered,
such as high operating costs, poor construction quality, debt burdens, and
corruption scandals. He also discussed China’s Digital Silk Road, the
technological extension of Belt and Road that has raised concerns about
technology dependency and surveillance.
“Discussions
like this increase transparency and knowledge as Kuwaiti government and
business leaders make important decisions,” U.S. Embassy Chargé d’Affaires
Larry Memmott said. “Mr. Raymond has decades of experience advising governments
and companies, and we hope that his analysis will help decision makers evaluate
offers for infrastructure projects and protect Kuwaiti interests. While there
could be benefits for countries interested in the Belt and Road Initiative, governments
and investors should be aware that China’s infrastructure projects have a troublesome
record of financial unsustainability, threats to national sovereignty, and
environmental degradation.”
Founder
& CEO of Reconnaissance Research Abdulaziz al-Anjeri commented, “In our
newly-established China Affairs Desk at Reconnaissance Research, we are working
to understand how the Chinese government works and the means through which it
achieves its goals so that we can anticipate potential Chinese influence in the
Gulf. We thank Mr. Peter Raymond for his fact-based and insightful
presentation.”
U.S.
Embassy Cultural Attaché Nelson Wen concluded: “The event was attended by many
high-level guests at the Chamber of Commerce and over 150 that joined
remotely.” He noted: “The U.S. Embassy plans to continue to collaborate with
Reconnaissance Research as a strategic partner to hold discussions on
international issues that could affect Kuwait’s trade, investment outlook, and
future.”