"China is a sleeping lion, and when she awakes, the world will shake," Napoleon Bonaparte.
Perhaps one of the most imminent global relation outreaches in economic history—a renaissance of global trade brought about by a non-English speaking, non-western and non-democratic nation; rather, a state-managed and centralized power. The People's Republic of China: Belt and Road Initiative (BRI) is most certainly the turning point for international economies. Welcome, to the 'New Silk Road.'
According to Lee, CNBC International 2019, as of September 2013, President Xi Jinping of the People's Republic of China had publicly unveiled one of the world's most ambitious infrastructural plans: "One Belt, One Road." The BRI is a geopolitical initiative seeking to bring strength to global trade, vast infrastructure and international investment between China and an estimated 60-115 projected countries.
"Together, potentially participating countries account for more than 30 percent of global GDP, 62 percent of the world's population and 75 percent of known energy reserves," Lee.
The initiative consists of two key parts: the "Belt" referring to the routes established by the ancient silk road. The "Road" referring to newly established maritime routes. Collectively, according to Lee Kuan Yew School of Public Policy the initiative is set to promote coordination of development policies, forging infrastructure and facility networks; strengthening trade/investment relations.
Here is a look at the six geographic (geopolitical) economic corridor: China-Pakistan (CPECE), Bangladesh-China-India-Myanmar (BCIM), New Eurasia Land Bridge (NELB), China-Mongolia-Russia (CMR), China-Central Asia West-Asia (CCWA) and China-Indochina-Peninsula (CICP).
The initiative through both land and maritime routes is set to produce various economic engagements by creating, vast railroads, pipelines, bridges, and maritime ports. Pakistan, according to Lee, CNBC International 2019, is a country already ended in the initiative. Said to be one of the most vital producers of oil (pipelines).
Surely, there is far more to learn and investigate. However, it is becoming increasingly clearer that the lifelong term of Chinese President Xi Jinping is continuing to foster aspirations for hefty goals regarding China's place in the global economy.
Overland and Maritime Routes of the Belt and Road Intitiative
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