China's Belt and Road Initiative symbol of global cooperation, says U.S. scholar

WASHINGTON, April 28 (Xinhua) -- The Belt and Road Initiative has become a symbol of global cooperation amid the broader trend toward deglobalization, a U.S. scholar has said.

Multinational companies need to "find new solutions in an era of accelerating deglobalization," Kacoossi Masoud, a professor of international business and international political economy at the School of Business at Howard University, said in an article published by The Diplomat on April 18.

One of the way out for multinational companies is to "create a win-win global growth chain," Masoud said, adding that the Belt and Road Initiative brings new opportunities for global businesses, allowing companies to "explore emerging markets and expand business opportunities with China, the Association of Southeast Asian Nations, the Middle East and Central and Eastern Europe."

Multinational companies should "use their global networks and operational experience to deepen infrastructure construction, optimize the investment environment and cultivate future markets in Belt and Road countries," and "take advantage of the internationalization of the Chinese renminbi to reduce the risks in settlement and hedging in specific markets," said the scholar.