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As China moves to consolidate its influence in the Asia-Pacific region, Chinese President Xi Jinping promises to strengthen cooperation and promote the “Digital Silk Road” with other countries. ASEAN members.
“Digital Silk Road”
On November 27, the Chinese President affirmed to Asian leaders that the country’s top priority is to develop relations with ASEAN – including 10 member states: Vietnam, Thailand, and Singapore. , Malaysia, Laos, Cambodia, Indonesia, Philippines, Brunei and Myanmar.
Speech came just two days after Biden announced his foreign strategy would focus on strengthening ties and starting a new leadership role in the Asia-Pacific.
Speaking via video to participants of the China-ASEAN Exhibition in Nanning City, Mr. Xi said:
“China considers ASEAN a top priority in neighboring diplomacy and an important area to build the Belt and Road Initiative.”
The Belt and Road Initiative aims to build infrastructure, investment and trade along the maritime and land Silk Road (sea and road routes connecting South Asia and East Asia with Persia. , South Asia, Arabian Peninsula, East Africa and Southern Europe).
Mr. Xi also shared:
“China aims to cooperate with ASEAN countries to develop China – ASEAN Digital Port to promote connectivity and build a Digital Silk Road.”
China embraces the dream of “hegemony” of Blockchain
So far there is no specific information suggesting that digitization will involve the use of blockchain technology. However, as CHK reported, Xi Jinping previously praised and considered blockchain technology a groundbreaking application, and China should embrace the opportunities offered by blockchain.
Mr. Xi emphasized the need to accelerate the development of domestic technology in different fields. To date, more than 500 blockchain projects have been registered with the Chinese government.
Many analysts said that as China seeks to develop trade ties in the ASEAN region, it is possible that the digital yuan will be accepted in these countries.
China intends to build a payment network that is not dependent on the US Dollar – still the most popular means of international transactions. As the world moves to digital, China’s digital currency can dominate by facilitating cross-border transactions in the region.
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