B&R News: Former US Under Secretary of State: the Belt and Road Initiative improves global economic cooperation
5 Jun 2017



In the interview with Xinhua News, Robert Hormats, the former US Under Secretary of State and Vice Chairman of Kissinger Associates, told the reporter that both Belt and Road Initiative and BRICS are of great significance to improving global economic cooperation.


He said, the promising potential of the Belt and Road Initiative is highly impressive. “The (inter-regional) connectivity is a historic and necessary endeavor. The Belt and Road Initiative connects nations in infrastructure projects and coordinates them in multilateral cooperation.”


Hormats appreciated that American delegation was invited to the Beijing Belt and Road Forum in May. He said, American businesses hope to share the opportunities and profit in these grand infrastructure projects. “Leading infrastructure companies in the United States want to take part in, contribute to, and benefit from the Belt and Road Initiative led by China.”


As the Under Secretary of State for Economic Growth, Energy, and the Environment in Obama Administration, Robert Hormats thinks America has every reason to be a part of Belt and Road cooperation.


In early 1970s, Hormats accompanied Kissinger, then Secretary of State, in the visit to China. Since then, he has been to China more than 100 times. He said, “China has seen huge leaps in opening up and development since 1970s. The changes are impressive. It now stands as more than a key trading nation in Pacific region, but a major trading nation in the globe.”


He states, “Chinese economy is interlaced with global economy.”


As Xiamen is hosting the 9th BRICS Summit in early September, Hormats acknowledges that solid achievements have been accomplished, for example, the establishment of New Development Bank BRICS. The 5 emerging countries play increasingly important roles in the globe. “They work closely together and demonstrate to the West that they need to be acknowledged as emerging economies. As they grow stronger, cooperation with them is expected.”


He states, BRICS should introduce more concrete and practical content into this multilateral framework. Environmental issues might be a good start for consensus. However, as the nationalism and protectionism emerge in the West, BRICS need to work together to maintain a just, open, and functional world economy order.


“Some multilateral frameworks tend to focus within instead of sharing profit with a larger audience. Emerging nations need to strive for inclusive development.” says Hormats.


Source: Xinhua News