In contrast to the longer East Asian traffic via north-west Europe, the southern sea route through the Suez Canal towards the junction Trieste shortens the goods transport by at least four days. The 21st Century Maritime Silk Road. The consulting firm McKinsey looks at how the BRI could reshape global trade in this 2016 podcast. [67][68][69] It was first proposed in October 2013 by Xi Jinping in a speech to the Indonesian Parliament. BRI projects are built using low-interest loans as opposed to aid grants. An important part of the Belt and Road Initiative for Belgium is also the digital Silk Road.

[38][39][40] Scholars have noted that official PRC media attempts to mask any strategic dimensions of the Belt and Road Initiative as a motivation. HKUST Institute for Emerging Market Studies, 2019), Scissors, Derek. [51], The COVID-19 pandemic has stopped work on some projects, while some have been scrapped; focus has been brought on projects that were already of questionable economic viability before the pandemic. Is it a blanket term for all Chinese overseas economic, social and political activities? At a bilateral level, it has invested in 52 out of the 54 African countries and is poised to enter the 53 rd market in Sao Tome and Principe. [19] Already, some estimates list the Belt and Road Initiative as one of the largest infrastructure and investment projects in history, covering more than 68 countries, including 65% of the world's population and 40% of the global gross domestic product as of 2017. The "21st Century Maritime Silk Road" (Chinese:21世纪海上丝绸之路), or just the Maritime Silk Road, is the sea route 'corridor. October 20, 2020 ", "Turnbull plays down Belt and Road fears", "University alliance seeks enhanced education co-op along Silk Road", "University collaboration takes the Silk Road route", "OFNRS – Observer, analyser et conseiller", "Follow the New Silk Road: China's growing trail of think tanks and lobbyists in Europe", "Central Asia in Asia: Charting Growing Transregional Linkages", https://www.researchgate.net/publication/329310641, Chinese Revolution Could Lure Overseas Investment, Official website by Office of the Leading Group for the Belt and Road Initiative, https://en.wikipedia.org/w/index.php?title=Belt_and_Road_Initiative&oldid=986649408, Creative Commons Attribution-ShareAlike License, Promote economic development and inter-regional connectivity, Asia, Africa, Europe, Middle East, Americas, Another corridor will run from Northern China through Mongolia to the, Chansok, L. (2019): The Belt and Road Initiative and Cambodia's Infrastructure Connectivity Development: A Cambodian Perspective. Several countries in Central and Eastern Europe have accepted BRI financing, and Western European states such as Italy, Luxembourg, and Portugal have signed provisional agreements to cooperate on BRI projects. In the last decade, President Recep Tayyip Erdogan has shaped Turkey into a revisionist power that challenges not just its neighbors, but also allies such as France and the United States. China has made significant inroads into Africa under the BRI. For the U.S. Initiative, see, Sīchóu zhī lù jīngjìdài hé èrshíyī shìjì The Central belt passes through Central Asia and West Asia to the Persian Gulf and the Mediterranean. “There’s been pushback,” said Jonathan Hillman of DC’s Center for Strategic and International Studies’ Reconnecting Asia project, “and much of it is due to China’s decision to keep the BRI opaque and its willingness to start projects quickly without doing as much risk mitigation.”. There are different views about the BRI from European opinion and policy makers, but all agree that the BRI will have a great impact on the political and economic world order. The wind power resources of central Asia would form one component of this grid.

You may opt-out by. Valuable Chinese silk, spices, jade, and other goods moved west while China received gold and other precious metals, ivory, and glass products. Heavily armed, right-wing groups are poised to rebel against the election if President Trump loses, an extraordinary danger to U.S. democracy. In total, China has already spent an estimated $200 billion on such efforts. [4] In particular, the African continent owes an estimated $145 billion, much of which involves BRI projects, with $8bn falling due in 2020. At the same time, China is motivated to boost global economic links to its western regions, which historically have been neglected.

Guido Santevecchi: Di Maio e la Via della Seta: «Faremo i conti nel 2020», siglato accordo su Trieste in Corriere della Sera, 5 November 2019. Opinions expressed by Forbes Contributors are their own.

I have been featured in, interviewed by, or appeared on CNBC Squawk Box, CBC The Current, Forbes.com, VICE, NPR Morning Edition, and BBC World. Three belts are proposed. The board of governors is AIIB's highest decision-making body. in The Maritime Executive, 1 January 2020. Xi has promoted a vision of a more assertive China, while slowing growth and rocky trade relations with the United States have pressured the country’s leadership to open new markets for its goods. Christoph Hein: "Wie Amerika Chinas Neue Seidenstraße kontern will" in: Frankfurter Allgemeine Zeitung, 11 November 2019.

Privacy Policy, COPYRIGHT © 2018 I-LOGICS | ALL RIGHTS RESERVED, BCECC NEWSLETTER: Opportunities for Belgian companies in the Belt & Road Initiative, https://www.anchorg.com/wp-content/uploads/2020/09/Untitled-design-12.png. In Kazakhstan, mass protests against the construction of Chinese factories swept the country in 2019, driven by concerns about costs as well as anger over the Chinese government’s treatment of Uighurs in Xinjiang Province. [4] Critics use the term debt trap diplomacy to claim China intentionally extends excessive credit to a debtor country with the alleged intention of extracting economic or political concessions from the debtor country when it becomes unable to honor its debt obligations (often asset-based lending, with assets including infrastructure). ", "What One Belt One Road means for Bangladesh", "The Geo-Economic Challenge of China's Belt and Road Initiative", "BRI Instead of OBOR – China Edits the English Name of its Most Ambitious International Project", "Australia rejects China push on Silk Road strategy", "China's Global Dreams Give Its Neighbors Nightmares", "China and Russia Want to Control the 'World Island, "Mapping the footprint of Belt and Road influence operations", "Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road", "AIIB Turns 3, Reflects on Startup Growth – News – AIIB", "Commentary: Silk Road Fund's 1st investment makes China's words into practice", Fitch warns on expected returns from One Belt, One Road, "Trade and trade facilitation along the Belt and Road Initiative corridors", "China to step up Russian debt financing", "Vision and Actions on Jointly Building Belt and Road", "CPEC investment pushed from $55b to $62b – The Express Tribune", "China's Xi in Pakistan to cement huge infrastructure projects, submarine sales", "With a new Chinese loan, CPEC is now worth $57bn", "Economic corridor: Chinese official sets record straight", "CPEC takes a step forward as violence surges in Balochistan", "Xi Jinping Calls For Regional Cooperation Via New Silk Road", "Integrating #Kazakhstan Nurly Zhol, China's Silk Road economic belt will benefit all, officials say", "Sri Lanka Supports China's Initiative of a 21st Century Maritime Silk Route", "China Pushes 'Maritime Silk Road' in South, Southeast Asia", "Reflections on Maritime Partnership: Building the 21st Century Maritime Silk Road", "Xi in call for building of new 'maritime silk road, China, Russia to build ‘Ice Silk Road’ along Northern Sea Route, "Cold Ambition: The New Geopolitical Faultline", "The XVI International conference "Development of a Shelf Russian Federation and CIS-2019" will open on May 17, 2019 in Moscow", "Russia and China started global infrastructure project Ice Silk Road", "China plans super-grid for clean power in Asia", "China's Ambitious Plan to Build the World's Biggest Supergrid", "China drops BCIM from BRI projects' list", "B&R interconnection witnesses great breakthroughs in 5-year development-Belt and Road Portal", "China's BRI negatively impacting the environment", "China's Belt and Road Initiative Could Drive Warming to 2.7 Degrees", The Belt and Road Initiative International Green Development Coalition, China's Belt and Road urged to take green route, "China notes Africa's key BRI role ahead of forum in Beijing", "Is Italy playing with fire when it comes to China?



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