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1、EmbracingtheBRIecosystemin2018NavigatingpitfallsandseizingopportunitiesEmbracingtheBRIecosystemin2018China-proposedBeltandRoadInitiative(BRI),whichhasbeenalargepartoftheinvestmentland-scapeacrossaswatheoftheworldforfouryears,willbecomeincreasinglyimportant.ThispapersummarisesDeloitte’skeyBRIin
2、sightsfor2018,andalsoexplainshowindustryplayerscanbestpositionthemselvestoseizetheever-wideningrangeofBRIinvestmentopportunities.COVERIMAGEBY:STEPHANIEDALTONCOWENNavigatingpitfallsandseizingopportunitiesCONTENTSExecutivesummary
3、 2BRI—Muchmorethaninfrastructure
4、 4Addingvalue,amelioratingrisks
5、
6、 10Winnersandglobalresonance
7、 14Clientfocus
8、 17Conclusion:Threekeyinsightsandpredictions
9、 20Endnotes
10、 211EmbracingtheBRIecosystemin2018ExecutivesummaryTisdifficulttothinkofanyrecentventurethathasmeanChinawillneedtoensuremorewidespreadIgeneratedsuchamixtureofoptimismanddiscus-participatio
11、ninprojects.3sionasChina’stranscontinentaldevelopmentproject,the$900billionBeltandRoadInitiativeIfweweretodrawananalogy,itwouldbethis:(BRI).BRIisajourney,onewithopportunitiesandrisks,andonethat―fouryearsin―isstillclosertoitsstartSomeintheWestperceiveitassimplyavastthanitsend.Thatmeansinvestors
12、needtotakeainfrastructureproject.Othersfearitsbenefitsarelongerviewofprojectsthantheyareaccustomedtooverestimatedandthepolitical,economicanden-doing.Andwhilewedonotdownplaytherisks,wevironmentalriskspoorlyunderstood.Ortheywor-believetheyarelessseverethanmanyassume.ryBRImight,astheFinancialTime
13、sputitinaneditorial,“exporttheworstaspectsoftheChineseAlthoughitremainstobeseenhowsuccessfuleconomy,whileincreasingthestrainsonitsalreadyBRIwillbe,itisindisputablyheretostay.InMaystressedfinancialsystem.”12017,aseniorofficialatthetopeconomicplanningbody,theNationalDevelopmentandReformCom-Thevi
14、ewfromChinaisquitedifferent.ForPres-mission,saidChinawouldspendafurther$600–identXiJinping,BRIis“theprojectofthecentury.”800billionoverthenextfiveyearsonoutboundBRI’sproponentspointtoitssuccessestodateandinvestment,andthat“afairlylargep