波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒

Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Global Views

Growth stimulator

By YASEEN ANWAR | China Daily Global | Updated: 2024-09-13 07:31
Share
Share - WeChat
LUO ZIYUE/FOR CHINA DAILY

Financing key to unlocking the opportunities that would be created by addressing the shortage of infrastructure in the Global South

Infrastructure is critical and the backbone of every economy as it generates employment and propels economic growth. The Global South lacking infrastructure needs sustainable finance and must be bankable to ensure implementation success. While it is apparent that infrastructure plays a vital role in the global economy, the Global South still faces two questions. First, how will the major financing gap in the Global South be filled, and where will the necessary resources come from? Second, what are the impediments that are preventing key financial institutions over the decades from providing such necessary financing to support this objective?

A significant challenge in financing infrastructure in emerging market economies is their limited access to financial resources, primarily due to insufficient credit ratings that most financial institutions require for lending. This situation creates a bottleneck, as many emerging market economies do not meet the necessary ratings to attract conventional financing. One potential solution to this financing impediment is the Belt and Road Initiative. The BRI is positioned to leverage substantial resources to address part of the financing gap without the stringent credit rating requirements imposed by traditional financial institutions.

In November 2014, a $40 billion Silk Road Fund was established to support infrastructure development and industrial cooperation in BRI countries. Also, the Export-Import Bank of China and the China Development Bank have provided significant loan support, offering $32 billion and $30 billion in credit, respectively. The Industrial and Commercial Bank of China itself has already financed BRI-related projects in excess of $100 billion. In addition, the collective resources of the World Bank, Asian Development Bank, Inter-America Development Bank, Asian Infrastructure and Investment Bank, European Bank for Reconstruction and Development Bank, Sovereign Wealth Funds, private equity, infrastructure funds, among others, will adequately fulfill the needs of the financing gap.

To further support infrastructure financing in the Global South, several regulatory changes are necessary. Since the 2008 global financial crisis, central banks have tightened macro prudential regulations. While these measures were aimed at stabilizing the financial system, they have unintentionally discouraged banks from holding long-term risk assets. As a result, this has also led to a decline in the expertise needed to manage such assets.

To address this, the Bank for International Settlements and central banks should create a supportive regulatory environment for systemically important financial institutions and developmental financial institutions. This could be done by adjusting capital requirements, specifically by reducing the capital needed for infrastructure financing, especially when multilateral organizations are involved in co-financing. This would encourage financial institutions to invest more in infrastructure projects.

Additionally, banks should realign their lending priorities to focus on long-term shareholder value. This means creating a more balanced balance sheet, with greater emphasis on infrastructure financing, especially through co-financing with multilateral organizations.

Global trade historically was the key instrument for economic development. However, with protectionist policies, decades of integration and interdependence are now in jeopardy. With the benefit of hindsight, the lessons of history can be heeded. The United States' Smoot-Hawley Tariff Act introduced in 1930s led to a 64 percent reduction in world trade. Using sanctions as an economic weapon is also detrimental to economic development and global trade, as it creates supply chain disruptions that are particularly painful for emerging market economies reliant on exports of raw materials and resources.

The evidence is compelling that the BRI spurs the economic growth of participating economies. Numerous countries have already felt the benefits of new employment opportunities and improved productivity thanks to the BRI. In 2017, the Greek port of Piraeus handled more than 4 million containers for onward distribution to Europe. Germany's Duisburg Inner Harbor has become one of the world's largest inland ports. And companies are now operating across Africa through an expanding transportation network of railways and roads.

Tens of billions of dollars of new business has been generated across a range of operations, including increased investment and tourism into Africa, new housing in Indonesia, power projects in Bangladesh, roads in Pakistan and Kazakhstan, and rising global and intra-regional trade in Southeast Asia.

The Asia-Pacific and Central Asia regions represent potential success stories toward elevating growth rates and per capita income. Intra-regional trade and the integration of regional economies will also cushion them from future exogenous shocks.

The desirable attributes of the BRI will also help restore faith and confidence in the international monetary system and as such it behooves the international community to collectively expand the opportunities it offers and to use them wisely.

The author is former governor of Central Bank of Pakistan. The author contributed this article to China Watch, a think tank powered by China Daily.

The views do not necessarily reflect those of China Daily.

Contact the editor at editor@chinawatch.cn.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒
熟女人妻一区二区三区免费看| 91精品国产综合久久精品麻豆| 欧美性色欧美a在线播放| 在线成人小视频| 欧美国产精品劲爆| 一区二区在线免费观看| 日本网站在线观看一区二区三区| 国产乱子轮精品视频| av不卡在线播放| 短视频在线观看| 色一区在线观看| 精品国产污污免费网站入口 | 国内精品视频666| 国模大尺度视频| 日本欧美一区二区三区不卡视频| 欧洲av在线精品| 国产欧美日韩不卡| 日韩国产欧美在线播放| 成人免费毛片片v| 在线免费观看麻豆| 欧美老肥妇做.爰bbww视频| 亚洲中国最大av网站| 国产成人精品免费网站| 不卡一区二区在线观看| 欧美电影免费观看高清完整版在线 | 欧美日韩aaaaaa| 中文字幕一区二区三中文字幕| 日韩电影在线一区二区三区| 亚洲av网址在线| 欧美日韩专区在线| 亚洲啪啪综合av一区二区三区| 国产精品综合一区二区三区| a毛片毛片av永久免费| 久久综合久久久久88| 日韩黄色免费电影| 调教驯服丰满美艳麻麻在线视频| 国产精品美女久久久久久久久久久 | 一本久久精品一区二区| 中文字幕在线不卡国产视频| 国产精品一区专区| 色婷婷在线视频观看| xnxx国产精品| 成人激情黄色小说| 精品视频资源站| 奇米色777欧美一区二区| 熟妇人妻久久中文字幕| 欧美日本在线一区| 久久国产夜色精品鲁鲁99| 四虎永久免费影院| 欧美激情资源网| 永久免费看片在线观看| 日韩亚洲电影在线| 免费成人av在线| 欧美肥妇bbwbbw| 国产人成一区二区三区影院| 99热精品一区二区| 欧美一级黄色片| 日本在线播放一区二区三区| 刘亦菲国产毛片bd| 国产精品水嫩水嫩| 日本美女视频网站| 国产日韩在线不卡| 国产成人精品综合在线观看| 欧美色老头old∨ideo| 另类小说一区二区三区| 国产在线综合视频| 一区二区三区四区亚洲| 制服.丝袜.亚洲.中文.综合懂| 奇米影视7777精品一区二区| 最新日韩免费视频| 国产精品久久久久久妇女6080| 男男受被啪到高潮自述| 久久亚洲免费视频| 亚洲欧美日韩中文字幕在线观看| 精品99一区二区| 久久久无码人妻精品无码| 国产亚洲欧洲一区高清在线观看| 国产又黄又嫩又滑又白| 国产嫩草影院久久久久| 国模私拍在线观看| 精品成人a区在线观看| 99riav久久精品riav| 7777精品伊人久久久大香线蕉完整版 | 欧美日韩国产美女| 成人小视频免费观看| 日韩视频免费直播| 99精品视频中文字幕| 久久久久久久久岛国免费| 成人中文字幕电影| 精品粉嫩超白一线天av| 人妻 丝袜美腿 中文字幕| 国产精品免费视频观看| 中文字幕丰满乱子伦无码专区| 亚洲一区二区三区在线看| 三级影片在线观看| 蜜桃av噜噜一区| 777欧美精品| 欧美日韩一区二区区别是什么 | a视频免费观看| 亚洲精品中文字幕乱码三区 | 亚洲а∨天堂久久精品2021| 欧美韩国日本综合| 亚洲AV无码国产精品| 亚洲综合免费观看高清完整版| 91香蕉一区二区三区在线观看| 一区二区三区在线不卡| 久久99久久99精品免费看小说| 美女久久久精品| 制服丝袜中文字幕亚洲| 制服下的诱惑暮生| 中文字幕一区二区三区乱码在线| 久久久精品成人| 久久精品国产精品青草| 91精品国产综合久久香蕉的特点| 美女被爆操网站| 亚洲精品成a人| 色域天天综合网| 成人av网站在线| 欧美va在线播放| 97se亚洲国产综合自在线观| 国产精品久久久久一区| 亚洲一区电影在线观看| 国产精品夜夜爽| 国产欧美日韩一区二区三区在线观看| 好吊视频在线观看| 亚洲综合成人在线视频| 欧美在线看片a免费观看| 99精品国产一区二区三区不卡| 自拍偷拍欧美激情| 国产一级久久久久毛片精品| 麻豆精品视频在线观看免费| 欧美成人激情免费网| 在线 丝袜 欧美 日韩 制服| 日本aⅴ精品一区二区三区| 日韩丝袜美女视频| 国产中年熟女高潮大集合| 美女视频一区在线观看| 久久久综合网站| 日韩欧美视频免费观看| 国产91对白在线观看九色| 欧美电影免费提供在线观看| 深爱五月激情网| 国模娜娜一区二区三区| 久久精品无码一区二区三区| 992在线观看| av成人动漫在线观看| 一区二区三区在线观看视频| 欧美久久一二区| 精品少妇人妻一区二区黑料社区| 久久国产综合精品| 国产精品美女久久久久av爽李琼| 一本久久精品一区二区| 绯色av蜜臀vs少妇| 青青青爽久久午夜综合久久午夜| 精品国产123| 岛国毛片在线观看| 丁香桃色午夜亚洲一区二区三区| 亚洲视频一区二区在线观看| 欧美日韩在线播放三区四区| 国产福利在线观看视频| 久久99精品国产麻豆婷婷洗澡| 欧美电影影音先锋| 亚洲第一综合网| av亚洲精华国产精华| 亚洲成人av资源| 6080午夜不卡| 日本人亚洲人jjzzjjz| 菠萝蜜视频在线观看一区| 亚洲午夜久久久| 欧美日本一道本在线视频| 青青草视频成人| 国产91在线观看丝袜| 亚洲最大成人网4388xx| 日韩久久久久久| 一区二区视频免费看| 国产伦理在线观看| 精品一区二区精品| 中文字幕亚洲精品在线观看| 欧美日本一区二区在线观看| 欧美激情久久久久久久| 中文字幕欧美视频| 狠狠色狠狠色综合系列| 亚洲欧美另类久久久精品| 日韩欧美一区二区久久婷婷| 亚洲国产精品一区二区久久hs| 91麻豆国产福利在线观看| 亚洲综合另类小说| 久久精品在线免费观看| 欧美丝袜丝交足nylons图片| 熟女少妇内射日韩亚洲| 一级黄色免费毛片| 黄页网站大全一区二区| 亚洲免费观看高清完整版在线观看| 日韩欧美电影在线| 色天天综合色天天久久| 天天躁日日躁aaaa视频| 无码人妻一区二区三区在线视频| 寂寞少妇一区二区三区| 亚洲一卡二卡三卡四卡五卡| 国产欧美一区二区精品久导航|