China has signed another $64bn (£50bn) worth of deals for its 21st century Silk Route scheme, the Belt and Road Initiative (BRI) - taking the total to a whopping $3.67trn (£2.87trn).
Washington is worried the multi-billion dollar scheme, which was also praised by Russian President Vladimir Putin last week, will increase Beijing's strategic influence.A freight train transporting containers laden with goods from the UK heading to China in 2017European countries have generally signalled their willingness to join in the programme, but some are fearful of the risks of not acting as a bloc.
"The Belt and Road Initiative has tremendous potential to spread prosperity and sustainable development, touching as it does, potentially 70% of the world's population, a project of truly epic ambition," Mr Hammond said.What was the Silk Road? It originally involved"trains" of men with horses and camels carrying goods on long-established routes over land.Goods, including silk, but also other textiles, ceramics, precious items and technology, were carried and traded along the route.
The modern Belt aims to use railways, carrying real trains, and roads to link Chinese cities with trading destinations in South Asia, Central Asia, Russia, South East Asia, Turkey and Europe.
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