The Chinese Communist Party’s (CCP) ambitious Belt and Road Initiative (BRI) could be thwarted by the peace agreement between Israel and the United Arab Emirates (UAE), reducing political tensions in the region and opening up new possibilities for partnership between the two countries.
Although Israel and the UAE are already participating in the project, their new alliance could undermine the CCP’s influence in the region because the geopolitical change caused is far-reaching and involves several countries, Breitbart said on Aug. 15.
The CCP “has huge business interests in the Middle East that I think were undermined by this deal,” SiriusXM presenter Alex Marlow said in discussing the new regional situation on his show.
However, there is now an opportunity for the CCP to take advantage of the situation of the countries that seemingly lost out in the agreement between Israel and the UAE, to negotiate with them their participation in the BRI, through which it aims to increase its economic and strategic presence in most parts of the world.
Among these countries are Iran, Turkey, and Syria, and the organizations that depend on them and the conflictive situation that links them, such as the Islamic terrorist group Hezbollah, the Iraqi militias, the Palestinian armed group Hamas, the military group Islamic Jihad, the Houthi rebels supported by Iran in Yemen, and the Syrian President Bashar al-Assad.
The CCP has been accused of deceiving poor countries by giving them loans under the BRI for construction of infrastructure projects with unfavorable conditions. After those conditions cannot be met, the CCP takes control of the works.
One of the cases took place in Tanzania, except that here the president, John Magufuli, decided to cancel a $10 billion loan commenting that with those conditions “only a drunkard would accept the terms,” according to HW News.
The loan was to be used for the construction of a port, with the condition that the investors obtain 30-year guarantee on the financing and 99 years of uninterrupted leasing.
Generally, the CCP gets control of infrastructure works for the benefit of its own economy, jobs are passed on to Chinese workers, and subcontracting is done to companies linked to it.
Likewise, the procedure followed by the CCP in this type of negotiations finances the elites of democratically weak countries and looks the other way when faced with human rights violations, facilitating the approval of its controversial loans.