Why You Should Know About the Belt and Road Initiative of China
China’s adventurous and diverse infrastructure development project that covers more than 70% of the world’s land area.
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Adopted by the Chinese government in 2013, the Belt and Road Initiative (BRI) is a far-reaching strategy aimed at advancing global infrastructure development. With investments spanning across 150 countries and international organizations, it has emerged as a central pillar of Chinese leader Xi Jinping's foreign policy, playing a pivotal role in bolstering China's economic and geopolitical influence on a global scale.
What is the BRI?
The BRI, also known as One Belt One Road (OBOR) or 1B1R, is inspired by the ancient Silk Road that connected China with Europe and Asia through trade and cultural exchange. The BRI aims to revive and expand this network of connectivity by building and financing infrastructure projects such as roads, railways, ports, pipelines, power plants, and digital networks across multiple continents.
The BRI is made up of two key parts: the Silk Road Economic Belt, which connects China to Central and South Asia, the Middle East, Europe, and Africa through land; and the 21st Century Maritime Silk Road, which links China to Southeast Asia, Oceania, the Indian Ocean, and the Mediterranean via sea.
The BRI is not a formal organization or a fixed plan, but rather a flexible and evolving vision that is open to participation and cooperation from any country or international organization that shares its principles and objectives. According to the official website of the BRI, these principles and objectives are:
Policy coordination: Enhance political trust and policy communication among the participating countries and regions, and align their development strategies and plans.
Facilities connectivity: Improve the infrastructure connectivity and interoperability among the participating countries and regions, and reduce the costs and barriers of transportation, trade, and communication.
Unimpeded trade: Promote trade liberalization and facilitation, and create a fair and open market environment for the participating countries and regions.
Financial integration: Expand the financial cooperation and connectivity among the participating countries and regions, and provide diversified and stable sources of funding and investment for the BRI projects.
People-to-people bond: Strengthen the cultural and social exchange and cooperation among the participating countries and regions, and foster mutual understanding and friendship among their peoples.
What are the main goals and challenges of the BRI?
The BRI is a massive and ambitious initiative that has multiple and complex goals and challenges. Some of the main ones are:
Economic development: The BRI aims to boost the economic growth and development of the participating countries and regions, especially those that are less developed or face infrastructure gaps. By providing access to markets, resources, technology, and finance, the BRI hopes to create new opportunities and benefits for the local businesses and communities, and enhance their integration into the global economy.
Geopolitical influence: The BRI also aims to increase China’s geopolitical influence and leadership in the world, especially in the regions that are strategically important or contested. By building and financing infrastructure projects that serve China’s interests and values, the BRI hopes to create new alliances and partnerships, and expand China’s presence and influence in the global governance and security affairs.
Environmental sustainability: The BRI faces a major challenge of ensuring the environmental sustainability and resilience of its infrastructure projects, especially in the context of climate change and biodiversity loss. By adopting green and low-carbon standards and practices, the BRI hopes to minimize the negative impacts and risks of its projects on the environment and the local communities, and contribute to the global efforts of addressing the environmental challenges.
Debt sustainability: The BRI also faces a major challenge of ensuring the debt sustainability and transparency of its financing and investment activities, especially in the context of the COVID-19 pandemic and the economic downturn. By adopting prudent and responsible lending and borrowing policies and mechanisms, the BRI hopes to avoid creating excessive debt burdens and risks for the participating countries and regions, and ensure the long-term viability and profitability of its projects.
Why does the BRI matter for you?
The BRI is a significant and influential initiative that has implications and impacts for you as a global citizen, regardless of where you live or what you do:
The BRI affects the global economy and trade
The Belt and Road Initiative (BRI) possesses the ability to revolutionize the global economy and trade dynamics, bringing about the opening of untapped markets, the establishment of novel supply chains, and the creation of opportunities for participating countries and regions, as well as the rest of the world. Additionally, the BRI has the capacity to influence global economic governance and regulations by either questioning or supplementing established institutions and frameworks such as the World Trade Organization and the Regional Comprehensive Economic Partnership.
The BRI affects the global security and stability
The Belt and Road Initiative (BRI) could impact global security and stability by fostering new avenues for cooperation or conflict among participating nations and regions, as well as with major powers like the United States, Russia, and the European Union. Additionally, the BRI has the potential to influence global security challenges and threats such as terrorism, extremism, piracy, and cyberattacks.
The BRI affects the global environment and climate
The BRI has the potential to affect the global environment and climate, by creating new opportunities or challenges for the environmental protection and conservation, and the climate change mitigation and adaptation. It can also affect the global environmental governance and cooperation, by influencing the implementation and development of the environmental agreements and initiatives, such as the Paris Agreement and the Convention on Biological Diversity.
Some Facts about BRI…
The BRI is not only about infrastructure, but also about culture, education, health, science, and technology. For example, the BRI supports the establishment of Confucius Institutes, cultural centers, scholarships, research institutes, and joint laboratories in the participating countries and regions.
The BRI is not only about China, but also about other countries and regions that have their own visions and initiatives for regional connectivity and cooperation. For example, the BRI aligns with the European Union’s Connecting Europe and Asia strategy, the African Union’s Agenda 2063, and the Association of Southeast Asian Nations’ Master Plan on ASEAN Connectivity 2025.
The BRI is not only about land and sea, but also about air and space. For example, the BRI supports the development of aviation and aerospace industries, such as the China-Europe Railway Express, the China-Pakistan Air Corridor, and the BeiDou Navigation Satellite System.
The Belt and Road Initiative (BRI) encompasses not just the present and the future, but also delves into the past and the rich heritage. Take, for instance, how the BRI actively supports the conservation and revival of historical and cultural landmarks along the ancient Silk Road. This includes iconic sites like the Mogao Caves, the Bamiyan Buddhas, and the Angkor Wat.