One Belt and One Road Initiative, the new Silk Road

31 July 2019 | Author/Destination: | Rubric: General

President of China Xi Jinping © The Russian Presidential Press and Information Office

President of China Xi Jinping © The Russian Presidential Press and Information Office

The Belt and Road Initiative (BRI) is a development strategy adopted by the Chinese government involving infrastructure development and investments in 152 countries and international organizations in Europe, Asia, Middle East, Latin America and Africa. “Belt” refers to the overland routes for road and rail transportation, called “the Silk Road Economic Belt“; whereas “road” refers to the sea routes, or the 21st Century Maritime Silk Road. It was known as the One Belt One Road (OBOR) and the Silk Road Economic Belt and the 21st-century Maritime Silk Road until 2016 when the Chinese government considered the emphasis on the word “one” was prone to misinterpretation. The Chinese government calls the initiative “a bid to enhance regional connectivity and embrace a brighter future”. Some observers see it as a push for Chinese dominance in global affairs with a China-centered trading network. The project has a targeted completion date of 2049, which coincides with the 100th anniversary of the People’s Republic of China.   read more…

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