.Nepal signs up to China

The One Belt, One Road Initiative (OBOR) spearheaded by President Xi Jinping would see 60 percent of the global population and around a third of global GDP linked through a network of Chinese-bankrolled ports, railways, roads and industrial parks.

The deal will see China plough money into Nepal for a series of projects including boosting its road network, power grid and a new railway connecting the capital Kathmandu with Lhasa in Tibet.

"We believe China will bring more investment to Nepal, helping the country overcome its status as a landlocked and least developed nation," said Nepal Foreign Minister Prakash Saran Mahat at the signing of the deal on Friday.

Analysts have expressed concern over the Asian giant´s attempt to take a lead in global commerce, cautioning that an integrated world trade system where China´s Communist party sets the rules could come with serious risks and hidden costs.In Kathmandu, China´s Ambassador to Nepal Yu Hong appeared aware of such criticism and described the plan as a "symphony performed by an orchestra" not China´s "solo show" in a short speech at the signing ceremony.

"The Initiative is not going to be China´s solo show. A better analogy would be that of a symphony performed by an orchestra composed of all participating countries," Yu said.

"The One Belt, One Road Initiative will bring new opportunities for China-Nepal cooperation and South Asia development," she added.