Projects can further promote Northeast Asian prosperity
- By Woo Duck Han
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E-mail China Daily, February 15, 2015
To reach the goal, China should first formulate policies that conform to internationally recognized rules rather than those established by China itself. Second, China needs an open policy that does not exclude any individual country or group of countries. Third, an institutionalized decision-making system in which all member states can participate should be set up. And most importantly, the primary condition is that all neighboring countries should believe that their security is safeguarded. All neighbors are observing China, and counting on it to fulfill its commitments to equality, mutual benefit and safeguarding security as it presses forward with the 21st Century Maritime Silk Road.
Among China's neighbors, the Republic of Korea is a typical pro-American country. Its attitude toward the "Belt and Road Initiatives" is one of caution, because it has to consider the US position in East Asia. Therefore, it hesitates to be part of the Asian Infrastructure Investment Bank that is dominated by China and maintains a position of reserve toward the Conference on Interaction and Confidence-Building Measures in Asia. But Seoul will have no reason to refuse joining the AIIB or taking part in confidence-building measures in Asia when the conditions are ripe, because both mechanisms will promote economic growth and security in the region.
The "Belt and Road Initiatives" are actually China's "Go West" strategy. As a country to China's east, the ROK is not involved in this strategy. But the ROK attaches great importance to the plan as the "New Silk Road" is in line with the Eurasian initiative proposed by ROK President Park Geun-hye, and will help the peaceful development on the Korean Peninsula.
Just as we observed at the ASEAN-Republic of Korea summit at Busan in the ROK last December, Seoul takes cooperation with the ASEAN members seriously, and actively promotes cooperation projects in energy, infrastructure and national security, which dovetail with the 21st Century Maritime Silk Road initiative. So China's "Belt and Road Initiatives" fit into and are mutually complementary to the ROK's economic diplomacy.
During his visit to the ROK, Xi Jinping and Park Geun-hye agreed to build a "Belt and Road" industrial negotiation mechanism and, hence, we expect the 21st Century Maritime Silk Road to extend to Busan and Incheon, and contribute to the common development of Northeast Asia.
The author is director of Korea JoongAng Daily's Institute of Chinese Studies.
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