PH ready to take part in China's Silk Road initiative

Among the leaders at the forum is Pakistani Prime Minister Nawaz Sharif who met with Xi on Saturday which saw him signing new deals with China worth almost $500 million United States dollars.

Chinese President Xi Jinping saidtoday that all countries should respect each other'ssovereignty and territorial integrity, as he inaugurated thehigh-profile Belt and Road Forum which India boycotted due toconcerns over an economic corridor that runs through PoK.

The May 14-15 forum is being attended by 29 heads of state and government, besides delegates from around 130 countries.

"In my view, Belt and Road is meant to create greater economic interdependence between China and its neighbours, which Beijing hopes will translate into increased political influence", said Bonnie Glaser, director of the China Power Project at the Washington-based Center for Strategic and International Studies.

Some of China's most reliable allies and partners are present in the forum, including Russian President Vladimir Putin, Pakistani Prime Minister Nawaz Sharif, Cambodian Prime Minister Hun Sen and Kazakh President Nursultan Nazarbayev.

He'll be spruiking his signature economic and foreign policy - a grand scheme to build railways, fast trains, ports and other infrastructure across Asia, Africa, the Middle East and Europe.

The project, unveiled by President Xi Jinping in 2013, spans some 65 countries representing 60 per cent of the world's population and around a third of global gross domestic product.

The initiative would provide some of the US$7 trillion of investment in infrastructure the Asian Development Bank said the region needs this decade.

In another bid to allay Indias concerns, Chinese ambassador to New Delhi Luo Zhaohui, during an address at a think tank in New Delhi, had offered to rename the CPEC, insisting that it was an economic cooperation and connectivity enhancement project devoid of "sovereignty issues". But it could also serve Beijing's geopolitical ambitions.

Joining them was a small delegation from North Korea, despite recent strained ties between Beijing and Pyongyang over the latter's nuclear program.

The Chinese foreign ministry said in a statement it opposed such missile tests and it called for restraint from all parties. "It is time we transcend our differences, resolve conflicts through dialogue and diplomacy, and leave a legacy of peace for future generations", he said. "We'll see what happens tomorrow", she said in a briefing with the press on the sidelines of the gathering.

He warned that "isolation results in backwardness".

- An additional US$14.5 billion to the Silk Road Fund. He also urged financial institutions to contribute 100 billion yuan.

Zhongguancun, known as "China's Silicon Valley", has set up the Belt and Road Industrial Promotion Association as a service platform to boost worldwide cooperation. "Britain has for centuries been one of the strongest advocates of an open global trading system", he said. "We are looking forward to the One Belt One Road initiative in promoting a prosperous and peaceful community of nations", it added.

Some Belt and Road projects are raising concerns in certain countries.

The chairman of the Senate Committee on Economic Affairs over the weekend endorsed the Philippines's participation in China's ambitious Belt and Road initiative, highlighting the program's potential to boost infrastructure development in the Philippines and foster inclusive economic growth throughout the entire Asia-Pacific region.

  • Nvidia's Latest Chip Contains Five Thousand Cores Aimed at Deep Learning

    Nvidia's Latest Chip Contains Five Thousand Cores Aimed at Deep Learning

    The DGX-1 supercomputer - which looks like a regular rack server - gets most of its computing power from eight Tesla V100 GPUs. This combination allows for 1.5 times more memory bandwidth when compared to the GP100's architecture.
    Microsoft fixes critical security flaw in Windows Defender

    Microsoft fixes critical security flaw in Windows Defender

    The actual flaw is identified as CVE-2017-0290 and is a remote code execution flaw in Microsoft's Malware Protection Engine . Last year, Microsoft focused heavily on bots at Build , and that continued with this year's conference.
    Kejriwal Asks Councilors 'Not to Betray Party' During AAP Meeting

    Kejriwal Asks Councilors 'Not to Betray Party' During AAP Meeting

    Kumar Vishwas who is not actively involved in the party works has said that Arvind Kejriwal's stand on surgical strike was wrong. Secondly, AAP has been extremely critical of the BJP and its top leaders including Modi and party president Amit Shah.
  • Three things we learned in the NHL: Fleury stonewalls Capitals

    Three things we learned in the NHL: Fleury stonewalls Capitals

    Jake Guentzel leads Pittsburgh with seven goals, Phil Kessel has seven assists and Sidney Crosby has 21 shots on goal. The first goal came midway through the first period and tied the game at one after an early Rangers goal.
    Real Madrid star stalling on Man United move for these two reasons

    Real Madrid star stalling on Man United move for these two reasons

    The club have promised him the #10 jersey - which will be vacated by Wayne Rooney, who is leaving for Everton in the summer. And when the transfer window eventually opens in June, he will have no shortage of suitors vying for his signature.
    8 tweets define Game 4 stinker between Sens, Rangers

    8 tweets define Game 4 stinker between Sens, Rangers

    Karlsson played during the first round with two microfractures in one of his feet from blocking a shot late in the regular season. Rangers head coach Alain Vigneault not only echoed Zibanejad's sentiments Wednesday, he took them a step further.
  • South Korea to Send Envoys to China to Discuss THAAD, North Korea

    South Korea to Send Envoys to China to Discuss THAAD, North Korea

    The Western media are concerned Moon will loosen the ties between Korea and the USA and altering the deal over the THAAD system. Moon has said the decision had been made hastily and his government should have the final say on whether to deploy it.

    Johnson confident this Players Championship will be different

    It was pretty good stuff on that first nine and, although I would have liked to have finished under par, the game's great. Johnson's tournament history at The Players includes one top-30 finish in eight starts - a tie for 28th a year ago .

    Government pushes on with company tax cuts

    But they have failed miserably". "There are no silver bullets to make housing more affordable", Mr Morrison said. And Bernardi said he only supported one measure in the budget, and that was drug testing for welfare recipients.
  • Tanguay: Wizards have taken shine off Celtics' star

    Wizards fans made certain Olynyk heard their thoughts, booing him throughout the Wizards victory and chanting " Kelly Oubre! ". When things get out of hand however, it hurt teams as the Wizards as finding out now. "We have to match it".

    Microsoft Cortana Now Supports Skills From Third Parties

    According to Trusted Reviews , the Invoke speaker is the first intelligent speaker to feature Microsoft's Cortana voice assistant. Rumor has it that Microsoft's will also try another approach to taking on the Echo - and that approach will look more like a PC.

    US again warns against travel to NKorea after new detentions

    A group of North Korean officials is meeting with former US officials in Oslo for a round of informal talks known as Track 1.5. Song was detained on suspicion of "hostile acts" against the state, the North's KCNA news agency said .