The Belarusian president has wooed China to rebalance ties with Russia and the EU. Wars and internal strife are among the main factors that threaten BRI’s success. Chinese authorities criticise foreign interference. China has invested US$ 2 billion in a Minsk's industrial project.
Beijing (AsiaNews) – The instability caused by recent protests in Belarus threatens Chinese investments in the Belt and Road Initiative (BRI), President Xi Jinping’s major infrastructure plan meant to turn China into the hub of world trade, this according to most observers.
Beijing's economic diplomacy is based on the stability of its partners. Wars and internal strife are among the main factors that threat BRI’s success, as evinced by the difficulties the initiative has encountered in Pakistan, Afghanistan, Iran and the Middle East.
Protests against the re-election of Belarusian President Alexander Lukashenko, deemed rigged by the country’s US and EU-backed opposition, are endangering Beijing's geopolitical plans.
The countries of Eastern Europe are a potential gateway to markets in the EU, Belarus’ second trading partner.
Beijing's official line is to condemn any interference in the internal affairs of another state; this is true for the West and, to a lesser extent, Russia.
Xi Jinping was among the first foreign leaders to congratulate Lukashenko on his re-election; yesterday, China’s Foreign Ministry issued a statement saying that China opposes “external forces triggering division and disturbances in Belarusian society ".
Having Belarus descend into chaos, or too aligned with the EU or Moscow, is not good for BRI.
Lukashenko has ruled the country with an iron fist since 1994. To survive, he has tried to avoid dependence on a single foreign "sponsor", seeking from time to time the support of Russia or Europe.
In recent years, to broaden his options, the "last dictator of Europe" has boosted relations with China, which in his eyes does not represent a threat to Belarusian sovereignty.
According to the China Global Investment Tracker, since the launch of the Belt and Road Initiative in 2013, Chinese investors have poured US$ 1.6 billion into Belarus, mainly in transport, logistics and energy, key sectors for the Belt and Road.
Last year, Chinese financial institutions opened a US$ 15 billion line of credit to Development Bank of the Republic of Belarus.
Among the most important investments, Beijing has financed the construction of a hi-tech industrial park on the outskirts of Minsk. Xi described the US$ 2 billion project as a “pearl” on the “new Silk Roads”.