Xi Jinping’s USD 60 Billion Plan: Bypassing Russia and reaching Europe, India under threat?
Turkey interests Chinese funding to energize and push its electric car industry to power throughout Europe.
Beijing: Installing a rail network in Turkey is one of the many aims of China’s Belt and Road Initiative. China’s 60 billion dollars investment aims to expands rail infrastructure and provide an east-to-west transportation route for European businesses looking to maneuver around Russia, which is involved in a war with Ukraine. China has been steadily investing in several countries and recently expressed its interests to invest into Turkey after building its presence in Middle-Eastern markets.As per a report by the Eurasian Times, Turkey's President of Investment Burak Daglioğoglu, confirmed railway funding as part of China's supply of the large scale initiative and provided some detail into China’s ambition to go after this opportunity.
Beijing has equally invested in Turkish electric cars and energy projects, with Turkey setting its sights towards a wider European market while the Ukraine war intensifies.
Russian Route Contradictions
Though many attempts are being made to find other ways for logistic operations it is still close l, most of the rail path China Europe freight network includes Russia.
It should be mentioned that more than ninety percent of rail traffic between China and Europe utilizes the transitional route that goes through Russia and Belarus. Construction of cross-border facilities of the European Union and the retaliatory measures introduced by Russia created different challenges to this network.This has made it difficult for Russia's railways to keep up with the growing needs of Chinese-European rail traffic. The attention has now been shifted towards the establishment of the middle corridor, in which additions are made by recent developments. If fully developed, this route will connect China to Central Asia, the Caspian Sea, the South Caucasus, Turkey, and eventually Europe. The use of Turkey’s two corridors as Europe divests from Russia exemplifies this transition.
Turkey’s Involvement in BRI
It is of significance that Turkey is in the role of the first countries that supported the Chinese BRI initiative. Turkey and China have signed a memorandum of understanding in 2015 that formally establishes their cooperation in the middle corridor initiative within the BRI framework.