China's Belt and Road initiative necessary for involved countries: expert

Global strategist Parag Khanna, a senior researcher of National University of Singapore, said China's Belt and Road initiative is a necessity for all the involved countries.

Speaking on the sidelines of the two-day Sharjah Foreign Direct Investment Forum on Tuesday, Khanna said he has been watching the process of the initiative during the early stages.

"I am very optimistic about the economic prospects in the countries and the entire region where the initiative covers," he said.

He noted that all the related countries, despite some internal obstacles, "are very much in need of the initiative."

About China's economic situation, he believed an economy of China's size cannot maintain an annual growth of eight to ten percent.

"I think the current slowdown is fine. Now we must focus on in what sectors China is strong," he added.

The initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative proposed by Chinese President Xi Jinping in 2013. It brings together countries in Asia, Europe and Africa via overland and maritime networks. Endit