In the past, this has meant Chinese firms or banks "essentially taking over", Balding said, giving them complete control over very strategic projects in foreign countries.
In a statement, a day ahead of the launch of the two-day summit in Beijing, India said that "Guided by our principled position in the matter, we have been urging China to engage in a meaningful dialogue on its connectivity initiative, One Belt, One Road' which was later renamed as Belt and Road Initiative'".
He also said that expansion and strengthening of connectivity is an integral part of India's economic and diplomatic initiatives and observed that under the "Act East" policy, it was pursuing the Trilateral Highway project; under its "Neighbourhood First" policy.
Playing down India's absence at the meeting, Chinese Foreign Ministry spokesman Geng Shuang told the media yesterday that the Indian scholars would be attending the meeting.
The China-Pakistan Economic Corridor passes through Gilgit and Baltistan in Azad Kashmir.
From the dawn of CPEC India worked as the largest opposition for the project and tried every cheap technique to destabilize the project and also the relations between Pakistan and China.
Around 1,500 delegates, including heads of states and government leaders, from 130 countries and worldwide organizations are set to attend today's "Belt and Road" Forum for global Cooperation, the Chinese foreign ministry said. While the USA sent Matt Pottinger, special assistant to the President, no cabinet or elected officials were in attendance. And Beijing will be undoubtedly pleased with this.
Pakistan signs nearly $500m in China deals at Silk Road summit
The spokesman also reaffirmed India's opposition to a Chinese-Pakistani economic corridor that runs through disputed Kashmir. The two countries, however, sealed a deal Friday for China to export cooked poultry to America and resume U.S. beef imports.
Government sources said India's participation was "unlikely".
Prime ministers joining the event are Hailemariam Desalegn of Ethiopia, Voreqe Bainimarama of Fiji, Alexis Tsipras of Greece, Viktor Orban of Hungary, Paolo Gentiloni of Italy, Jargaltulga Erdenebat of Mongolia, Nawaz Sharif of Pakistan, Beata Szydlo of Poland, Aleksandar Vucic of Serbia, Mariano Rajoy of Spain and Ranil Wickremesinghe of Sri Lanka.
The May 14-15 summit, which is expected to strengthen Xi's power base as he gets set to begin his second five-year tenure later this year, will be attended by 29 heads of state and government, including Russian President Vladimir Putin.
Ministers are representing another 28 nations - Afghanistan, Australia, Azerbaijan, Bangladesh, Brazil, Egypt, Finland, Germany, Iran, Kuwait, Lebanon, the Maldives, Myanmar, Romania, Nepal, New Zealand, North Korea, Saudi Arabia, Singapore, South Sudan, Sudan, Syria, Tanzania, Thailand, Tunisia, the UK, Uganda and the UAE. MEA also enumerated various bilateral initiatives it has undertaken with other countries.
The composition of his delegation to China, particularly the presence of four Chief Ministers, is testimony to the broad-based Pakistan-China friendship, Mr Sharif was quoted as saying.
The Pakistan Prime Minister will attend the inaugural session of the One Belt One Road Summit, a plenary meeting of high-level dialogue and the state banquet.
India is anxious that the China-funded Obor - a network of railroads, highways and ports connecting eastern, southern and southeastern Asia with East Africa, Central Asia and Europe - represents an extension of Beijing's strategic ambitions.
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