CHINA'S Belt and Road Initiative, sometimes called "One Belt, One Road," is a visionary recreation of the historic Silk Route, forming a new land bridge between East Asia and Western Europe. Moving freight by rail takes half the time it takes by sea, and is more reliable and safer. Potentially it will revolutionise trade between Asia and Western Europe, but this, together with growing liberalisation, raises difficult questions for banks, lessors and operators claiming title or security rights in rolling stock that frequently crosses national borders.
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