Although the exact price tag of China’s BRI investments in Myanmar is difficult to ascertain based on publicly-available information, the government-appointed Myanmar Investment Commission’s Directorate of Investment and Company Administration reports over $21 billion dollars in approved Chinese foreign direct investment as of March 2020. Theoretically designed to upgrade the deep-water port at Kyaukphyu and connect it to Yunnan with an extensive infrastructure network, as well as several large-scale energy projects, CMEC bears most resemblance to the China-Pakistan Economic Corridor (CPEC). ![]() These BRI projects aim to provide alternative access to the Indian Ocean for the remote and underdeveloped Yunnan Province in southeast China, but remain troubled by slowdowns. Xi strongly reaffirmed China’s commitment to revive the stalled multibillion-dollar BRI projects in Myanmar by signing 33 new memoranda of understanding, some of which the Chinese highlighted as restarted even amidst the COVID-19 pandemic. More than just a symbolic show of closeness, the visit signaled renewed Chinese interest in the country. This year marks 70 years of diplomatic relations between the People’s Republic of China and Myanmar, which was recently celebrated with a formal visit by President Xi Jinping to Naypyidaw in January 2020. On a broader level, CMEC represents how BRI in Southeast Asia often operates in support of core Chinese interests and that these interests will remain and incentivize Chinese policy commitment even amidst global pushback and criticism of the initiative. Ultimately, the depth of China’s domestic and foreign policy interests in Myanmar and its significant influence and history of involvement in the country suggest that China’s escalated efforts to jumpstart the project will likely lead to CMEC’s success over the medium- to long-term. A successful CMEC would therefore substantially improve China’s overall geopolitical fortunes in the region and further tie Southeast Asia into its orbit. Despite setbacks, the infrastructure route in Myanmar-labeled the “China-Myanmar Economic Corridor (CMEC)”-promises to connect the Indian Ocean oil trade to China’s Yunnan Province and pay dividends for China by addressing internal development priorities, the strategic vulnerabilities of China’s oil supply, and its competition with India. Over the past decade, Chinese infrastructure investments under the umbrella of the Belt and Road Initiative (BRI) in Myanmar experienced a rocky history of stops and starts, as have other BRI projects in Southeast Asia. Careers, Fellowships, and Internships Open/Close.Wahba Institute for Strategic Competition.Science and Technology Innovation Program.Refugee and Forced Displacement Initiative. ![]() The Middle East and North Africa Workforce Development Initiative.Kissinger Institute on China and the United States.Hyundai Motor-Korea Foundation Center for Korean History and Public Policy.Nuclear Proliferation International History Project.North Korea International Documentation Project.Environmental Change and Security Program.Iván Duque Center for Prosperity and Freedom.WQ Winter 2024 | The New Multilateralism.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |