As part of the country's effort to be a top economic player in the world, China recently announced that it is looking forward to strengthening its ties with at least 16 European nations. A top Chinese government minister confirmed this stance on Tuesday and added that China already has ongoing projects in most of some of these projects.
During a meeting in Serbia, Chinese Transport Minister Li Xiaopeng told officials coming from 16 European countries that China is looking to improve its economic ties with these countries. He added that China is also looking for other diplomatic relations that will be forged on "complementary advantage" which both the country and the region will benefit from.
China's interest in the Central and Eastern European region is not an entirely new thing. The country has been consistently promoting its revival of the ancient trade route called the Silk Road, officially known as the Belt and Road Initiative project. Many observers believe that China's new Silk Road project is part of the country's strategy to widen its influence abroad through deep economic relations and investment deals.
China is branding this new European initiative as "16+1." It is described as a cooperative effort in order to promote business and investment relations between the country and countries spanning the Central and Eastern Europe.
While China's Belt and Road Initiative is viewed as a beneficial deal both for China and the host country, some observers are seeing quite the opposite of it. In July, the European Union said that it is alarmed about China's increasing political and economic influence over the region. The union even went as far as saying that China's wooing strategy is part of its grand plan to join the European Union someday.
China's growing influence can be traced back to about two years ago. In 2016, China's investment to various European Union members skyrocketed to nearly $40 billion, up from around $18 billion the previous year. This figure is based on data released by the Rhodium Group, a research firm based in the United States.
Majority of these investments are backed by the Chinese government. Prior to that deal in 2016, Some of Europe's top countries have accepted China's investment without questions. However, as China's influence over the region continues to grow, some leaders are growing skeptical about China's real strategy regarding these investments.
It is important to note that while Europe is on China's top priorities, the country is also stretching its political and economic might over several regions including Southeast Asia and Africa.
