00:00Well, let's talk now to Shaolin Chen, who's head of international at Crane Chairs.
00:05Welcome back to the program. Good to see you.
00:08How has the China-Central Asia trade relationship evolved,
00:12and what do you think are the main drivers behind this growth?
00:18Thank you for having me again, Jamie.
00:20Obviously, this is a quite important trip, given President Xi Jinping made, you know,
00:25to attend the second summit that hosts it in Kazakhstan now.
00:31A few issues or a few initiatives happened over the last few years
00:35encouraged both China and the Central Asian countries to work more closely.
00:41Bound and Road's initiative was first launched in 2013, believe it or not, it's 12 years ago.
00:47That was with a goal to expose China's expertise to the rest of the world,
00:53and Kazakhstan and the rest of the Central Asian countries play a critical role
00:57to connect China and the rest of the world, particularly to Europe, and serve as a bridge.
01:03That initiative weighs the goal to outsource China's expertise to the rest of the world
01:07also comes with China's commitment to invest in all these countries,
01:12which is a win-win situation for both sides.
01:15That is one.
01:15Obviously, the infrastructure development that China has been investing heavily
01:19in infrastructure projects across Central Asia, including roads, railways, pipelines.
01:25Also, these are the needed for the Central Asia.
01:28I think the Asian Development Bank once was estimated there is billions and billions of projects
01:33need to be put in place for Central Asia in the next decade or so
01:37for this to be more modernized and connect with themselves, with the rest of the world.
01:42So, it's come at a great timing for China to launch the bridge and road initiative,
01:49also committed to invest in infrastructure projects with these partners.
01:55Obviously, trade volume is another key driver for the close collaborations between China
02:01and the rest of the countries.
02:02The rest of the Central Asia countries are known for very rich natural resources,
02:08and these are the things that China needs, particularly in energy, resources, in oil, in gas,
02:13and this really creates a very natural bond between China and the rest of the countries and partners.
02:20However, there are dissenting voices, aren't there?
02:23I mean, how is China addressing concerns in Central Asia about trade imbalances
02:28or over-dependence on Chinese investment and goods?
02:32At the beginning, it's absolutely a very large-scale project,
02:39not only Central Asia, Europe, and then some Asian countries also get involved,
02:43if you're referring to the bell and road project.
02:46It's going to be a hard project to manage, very ambitious goals,
02:49but step by step, gradually, this can be achieved.
02:53Even if partially achieved, it can be a women's situation, even for the country themselves.
02:57They want to do trade volume.
02:59They want to serve as a transition hub for themselves to play a critical role
03:04on the economic ties between themselves and the rest of the world.
03:07That's one.
03:08Obviously, the Chinese investments in them has always come with a trade agreement
03:13or agreements between certain corporate level, country levels.
03:18It's always negotiated and discussed with exchanges of certain ways.
03:24We help you in infrastructure.
03:25You needed projects, and then in return, we can maybe get more natural resources if there's available.
03:33But I think this diplomatic engagement between China and the rest of the Central Asian leaders,
03:39this time around, is going to set a very good example and going to further strengthening
03:44their two sides of the work relationship or trade relationship,
03:49particularly given now China is another level up with green technology,
03:54with solar, with electrical cars.
03:56You just mentioned BYD earlier on.
03:58I think China is another level up of focusing on bringing not just investments,
04:04also products that are needed for these countries' consumers.
04:08Charlene Chen, thank you for that.
04:09Charlene Chen, the head of international at Crane Shares.
04:13Charlene Chen, I believe there is one of you.
04:26Charlene Chen, Alrighty.
04:29How many of you cancerning yet have weathered there?
04:32Charlene Chen, the head of international at Crane Shares.
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