According to a study issued by the McKinsey Global Institute in 2015, the world's economic center remained in the East like in the year 1000. The US replaced Europe as the center of the world's economy after WWII.
China's trade with countries along the Belt and Road totaled at 20 trillion yuan ($2.89 trillion) from 2014 to 2016, said an official from China's Ministry of Commerce on Wednesday, days ahead of the upcomingBelt and Road Forum for International Cooperation.
Belt and Road projects are encouraged to use local currencies in investment and finance to cut problems associated with exchange rate fluctuations, said Yi Gang, deputy governor of the People's Bank of China (PBOC).
CANBERRA, May 11 (Xinhua) -- The China-proposed Belt and Road Initiative provides opportunities for its cooperation with Australia, especially in developing 17 million hectares of arable land in northern Australia, a former official has said.