China's President Xi Jinping has outlined an project to regenerate global . His government has pledged a $124 billion to bolster global trade along the old Silk Road . President Xi spoke about the on Sunday at a summit attended by leaders from 29 countries, as well as the of the United Nations, International Monetary Fund and World Bank. The President stated that the new initiative aimed to expand trading between Asia, Africa, Europe and beyond. He said the project would invest of dollars in infrastructure to help facilitate the free of goods. He told attendees at the summit that: "Trade is the important of economic development."
President Xi said increased global trade would make the more peaceful. He said: "We should build an platform of cooperation, and uphold and grow an open world ….We will not re-tread the old of games between foes. Instead we will create a new of cooperation and mutual benefit." Pakistan's Prime Minister Nawaz Sharif was impressed with President Xi's " and ingenuity". He said: "Such a broad sweep and scale of interlocking economic and investments is unprecedented in history. We stand at the of a geo-economic ." Britain's finance minister told the summit his country was a "natural " of the project.