Best of China’s Eco-nomy

Over the past 20 years, China has transformed itself from an economic backwater into the world’s second biggest economy. We look at its ambitious transnational Belt Road initiative and the ecological fallout from its relentless development

Over the past 20 years, China has transformed itself from an economic backwater into the world’s second biggest economy. We look at its ambitious transnational Belt Road initiative and the ecological fallout from its relentless development

Revisited

No.119 Issue 4/2016

Title

China’s One Belt One Road

Connecting to the rest of the world

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Shakila Rajendra China is increasingly becoming one of the world’s biggest economic players, and in order for the country to sustain its rapid development well into the 21st century, it has set its eyes on making bigger and better connections to the rest of the world. To do this, China’s President Xi Jinping in 2015 announced the implementation of the One Belt One Road (OBOR) Initiative; an ambitious plan that seeks to connect both land and sea trade routes to enhance cooperation and connection with China and the rest of Eurasia. The “belt” in question refers to The Silk Road Economic Belt, which is a land route designed to link China to Central Asia as well as Eastern and Western Europe. This belt will build economic corridors with parts of the world that will have significant trade benefits by being connected to China. These areas cover Mongolia and Russia, Central Asia as well as Southeast Asia. It will also connect to areas such as the Mediterranean Sea, Persian Gulf and the Middle East, effectively building a “Eurasian Land Bridge” and creating opportunities for huge economic development and cooperation.