Weekly Top News - 2018 October 7

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Here is the Belt & Road Today brought to you by Belt and Road Advisory

  1. US, Canada & Mexico FTA clause prevents FTAs with China: A clause in the USMCA FTA between US, Mexico and Canada prevents any one member from signing FTAs with a non-market economy. With talks progressing between Canada and China on a FTA, the clause in essence gives the US a right to veto - Read more

  2. Pakistan cuts BRI loan by $2 billion: Islamabad has reduced the loan of its largest Belt and Road project in Pakistan by $2 billion, railway minister Sheikh Rasheed said on Monday, citing government concerns about the country's debt levels. This will likely mean the project will be downsized too. - Read more

  3. Close encounter between Chinese and US naval vessels: A Chinese warship has forced an American destroyer to change course in the South China Sea by sailing close to it in an "unsafe and unprofessional" manner, the US Navy says.  - Read more

  4. Italy to join BRI: Italy’s government is scrapping the previous administration’s efforts to limit Chinese investment in strategic sectors in favor of fostering relations with Beijing by opting to participate in Belt and Road. They will become the first G7 country to join.  - Read more

  5. North Korea praises BRI: North Korea sings BRI’s praises. North Korea would clearly like a piece of the “Belt and Road” action and China desperately wants to loop them in, once sanctions against the North’s nuclear program have been lifted.- Read more

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Grzegorz Stec