In May 2017, some 1,200 delegates from 110 countries, including 29 visiting heads of state and government leaders, gathered in Beijing for China’s biggest diplomatic event, which was held to showcase the Belt and Road Initiative’s (BRI) achievements to date, as well as draft some new ideas. The forum also formalised the US$50 billion China–Pakistan Economic Corridor (CPEC), a flagship project of the BRI, projecting it as a game-changer for Pakistan’s economy.
Strategic Petroleum Reserves: Stocking Oil for Rainy Days
A strategic petroleum reserve offers India the leverage to be a serious player in the international oil market, as it will have the option to release supplies when prices spike and recharge the reserve when prices are low.