The new Silk Road. Is everything going according to plan?

08.31.2023

The «One Belt, One Road» concept is an international initiative of China aimed at improving existing and creating new trade routes. It was first announced by Chinese President Xi Jinping in autumn 2013 during visits to Kazakhstan and Indonesia.

In China’s political documents, such as the «Socio-Economic Development Plan for 2015» and the «Report on the work of the Government», the construction of the «One Belt, One Road» was declared an important task facing the government. This initiative represents the formation of a new model of international cooperation and development, as well as the strengthening of existing regional bilateral and multilateral mechanisms and structures of interaction with the participation of China. The megaproject combines resources and territories where 63% of the world’s population lives, and its economic scale is estimated at $21 trillion.

Economic corridors and transport routes are seen as a means to achieve parity with the United States. And Europe remains the main beneficiary of the Eurasian Land Bridge.

At the same time, the main problem of China’s initiative is the lack of investment and free resources. The «One Belt, One Road» initiative requires a detailed roadmap and more careful monitoring by Beijing.

Analytics on topic
Article
02.28.2023
China’s bid to leave covid behind could determine global economy’s fate

The U.S., European and Japanese economies are seen in the latest forecasts as likely to underperform

Source:
Article
06.27.2024
China-Europe freight rail service traverses continents, history

The China-Europe freight rail service achieved a remarkable milestone on May 25 by completing its 90,000th journey