The Belt and Road Initiative is a massive international project launched by Chinese leader Xi Jinping in 2013. It is also known as the “New Silk Belt and Road Initiative” or “One Belt One Road”. This initiative aims to enhance economic and trade cooperation between China and other countries in Asia, Africa, Europe, and other continents by building a network of infrastructure projects such as railways, ports, roads and other energy and economic projects.
The Belt and Road Initiative aims to boost global trade, enhance economic connectivity between countries, increase investments and improve cultural contacts. The project includes several roads and sea lanes extending across multiple regions of the world and can significantly impact the economic development of the participating countries.
Since the launch of the Belt and Road Initiative in 2013, about 10 years have passed, and during this period the initiative has developed significantly. About the path of its development during this period:
Geographical expansion: The initiative began by focusing on the Middle East and Central Asia, but quickly expanded to include other regions in Asia, Africa, Europe, and Latin America.
Huge Investments: China has plans to invest hundreds of billions of dollars in multiple infrastructure projects globally, including railways, ports, roads, and energy projects.
Focus on sustainable development: In conjunction with the international community’s interest in sustainable development, China has begun to focus more on bringing projects within the framework of sustainable development and environmental conservation.
International cooperation: The importance of international cooperation in implementing the initiative was emphasized, as China cooperated with many countries and international institutions to achieve its goals.
The Chinese Silk Road supports the fair dissemination of a successful development model (Belt and Road Initiative – BRI), which essentially aims to enhance economic and trade cooperation between China and other countries around the world through building joint infrastructure projects, such as railways, ports, roads, and other energy and economic projects. . The stated goal behind the initiative is to achieve mutual benefits and promote trade and investment between China and the rest of the world.
The Chinese Silk Road supports a successful development model if projects are implemented within a framework that allows achieving sustainable and equitable development for all participating parties. It is worth noting that for countries hosting such projects, there can be opportunities to increase investments and improve infrastructure, which can contribute to economic growth.
However, potential challenges and risks, such as environmental impacts, must also be taken into account, which must be carefully addressed to ensure that benefits accrue to local people and achieve development justice. In addition, the actual success of projects requires effective international cooperation and the full involvement of all parties involved.
Finally, in short, the Belt and Road Initiative represents a huge effort by China to enhance international cooperation and develop global infrastructure. It aims to promote trade and investment and achieve economic development across borders. Despite the challenges and criticism, the initiative remains an important complement to global cooperation and the development of economic relations between China and the rest of the world. In general, the Belt and Road Initiative has continued to attract international attention and have a significant impact on the global economy over the past ten years, and its future will continue to be carefully monitored as it continues to develop and face various challenges and opportunities.
Author: Dr. Hasan Al-Dajah, Professor of Strategic Studies at Al Hussein Bin Talal University – Jordan, Consultant of the Belt and Road Institute, Beijing University, Member of the International Council of Sinologists.
Global Silk Route Research Alliance (GSRRA), not necessarily agrees with the Author’s point of view, and published it without any liability.