The term derives from the overland silk road economic belt and the 21stcentury maritime silk road, concepts introduced by prc president xi jinping in 20. Chinas great leap outward china analysis introduction by francois godement china has created an action plan for its silk road concept in the form of the one belt, one road obor initiative. Chinas massive belt and road initiative council on. At one level, one belt, one road has the potential to be perhaps the worlds largest platform for regional collaboration.
One belt, one road obor members research service page 5 of 12 that run parallel to or link the belt and the road. On september 7, in a speech delivered at kazakhstans nazarbayev university, chinese president xi jinping proposed building the silk road economic belt. The silk road economic belt was first laid out first in president jinpings speech in september 20 in kazakhstan. One belt one road impact on india group discussion ideas. One belt one road obor is a chinese project aimed at building trade routes with strategic control between china and the countries in asia, africa, and europe. Understanding chinas one belt and one road policy the. But frankly, for many of us who live and work in the region, behind the diplomatic language and the policy speak, what exactly is one belt, one road. Chinese leaders have unveiled a foreign policy priority, the one belt one road scheme, an international treaty that seeks to supersede all previous trade arrangements. Apr 03, 2015 building chinas one belt, one road april 3, 2015.
The one belt and one road strategy is a good medicine for reviving the vitality of the international economy and for achieving economic transformation. One belt one road obor initiative is a historical initiative which connects the. Chinas belt and road initiative is neither a strategy. Not only did the chinese talk about their grandiose scheme, they also took us to puer, an. The belt and road initiative bri, also known as one belt, one road obor, is china. We conclude that eight countries are at particular risk of debt distress based on an identified pipeline of project lending associated with bri.
Many foreign policy analysts view this initiative largely through a. Australian experts as they explain chinas one belt one road policy, its implications and how to develop valuable business opportunities and networks. Obor is a chinas project aimed to improve connectivity and cooperation among eurasian countries it connects 68 countries and covers about 40% of worlds gdp. The one belt, one road obor initiative has been a topic of hot debate among sinologists and pundits in recent years. The belt and road initiative bri or one belt, one road obor is a project launched by.
May 15, 2017 despite the nameone belt, one roadits not a road safety initiative. Xi has launched obor at a time when chinese foreign policy has become. This show the importance of the initiative to the chinese leaders, particular. The one belt, one road strategy and chinas energy policy. Whitepaper for healthcare industry investment in the context of one belt, one road. Chinas belt and road initiative in the global trade. The article evaluates the likely economic impact on trade and growth of chinas obor initiative. Case study of chinagermany trade maritime economics research center hamburg business school, university of hamburg 3 1. One common confusion is which countries are exactly included in the initiative as the chinese government has never announced an official list. China plus 64 countries along the belt and road a chinese report2, released by the china international trade institute in august 2015, identified 65 countries along the belt and road. In 2016, china railway international won a bid to build indonesias first highspeed rail, the 140 km 87 mi jakartabandung high speed rail.
According to asian development bank estimate in 2009, the 45 developing member countries dmcs in asia will requires approximately usd 8 trillion infrastructure investment in the next decade to sustain its current grow momentum. Jointly, theyre meant to be a revival of the ancient silk road trading routes. These two major initiatives were initially packaged and labelled under the overarching term one belt, one road. One belt one road one bank ready to turn 150 years of local knowledge into global opportunities for your business. One belt, one road silk road economic belt maritime silk road initiative nun. Africa being one of the focus areas, chinas engagement in africa seems more relevant than ever. Study on the opportunities and countermeasures for the. What is the nature of this foreign policy and how is it implemented under th. It is a development strategy to connect china with central asia, europe, and indopacific littoral countries. Launched in 20 by chinese president xi jinping, the obor is a short term for the silk road economic belt one belt and the 21st century.
The one belt, one road obor initiative is a foreign policy and economic strategy of the peoples republic of china. Hence, the growth trend in the medicine investment by chinese enterprises is. This book is among the first to systematically analyze and discuss the chinese governments one belt, one road initiative to promote infrastructure investment and economic development, bringing together a diverse range of scholars from china, russia, and eastern europe. One belt one road impact on kenya mombasa nairobi railway. This passage is about the opportunities and challenges of one belt, one road strategy to all participants. The grand vision was launched in 20 originally as the one belt, one road obor initiative. Understanding chinas one belt and one road policy ashfaqur rahman china seems to be on a roll ever since xi jinping became the general secretary. One belt one road policy implication on logistics route competition. The emphasis is on enhancing land as well as maritime routes. The economic growth and development effects of chinas one.
It aims to strengthen beijings economic leadership through a vast program of infrastructure building throughout chinas neighbouring regions. One belt, one road the internationalization of chinas soes. At the heart of one belt, one road lies the creation of an economic land belt that includes countries on the original silk road through central asia, west asia, the middle east and europe, as well as a maritime road that links chinas port facilities with the african coast, pushing up through the suez canal into the mediterranean. One belt one road, china, development, infrastructure, regional, global. Apr 23, 2018 chinas one belt, one road obor policy is aimed at investing large sums of money in infrastructure development in the area between the two silk roads, in an effort to join them together. Jan 28, 2020 chinas belt and road initiative bri, sometimes referred to as the new silk road, is one of the most ambitious infrastructure projects ever conceived. One belt, one road, one big mistake one belt, one road. The one belt, one road initiative and its effects on the relations between china and european union supervisor professor carlo mazzei candidate antonino clemente student reg. Understanding chinas belt and road initiative lowy institute.
This new intiatives objective is to rival the belt and road. The one belt, one road idea is an international community project with china taking the lead. The one belt part of it refers to the silk road economic belt while the one road refers to the 21stcentury maritime silk road. As world leaders prepare to meet in beijing on april 2527 for a summit on chinas belt and road initiative, a once confident china seems on.
Listed below are official documents related to the belt and road initiative bri. The concept of one belt and one road the one belt one road concept has international strategic importance. It also analyzes the reasons of origin, strategy, opportunities and challenges of obor initiatives on the basis of. The main purpose of this study is to explore implication of one belt one road initiative for global future development. Chinas one belt, one road initiative parliament of. These economic corridors differ largely in size and are at various stages of planning and implementation, with some relying on existing infrastructure or projects integrated into the obor initiative. Jan 28, 2020 one belt one road obor, the brainchild of chinese president xi jinping, is an ambitious economic development and commercial project that focuses on improving connectivity and cooperation among. Onebeltoneroad policy implication on logistics route. The potentials of one belt one road 21 according to asian development bank estimate in 2009, the 45 developing member countries dmcs in asia will requires approximately usd 8 trillion infrastructure investment in the next decade to sustain its current grow momentum. The policy is significant for china since it aims to boost domestic growth in the country. The risks of one belt, one road for chinas neighbors. Recently, china has proposed the construction of one belt, one road which aims to collaborate with most asian countries economically. A new estimate in 2016, the 45 dmcs will need to invest usd 26 trillion.
May 16, 2017 chinas belt and road initiative bri is a multifaceted economic, diplomatic and geopolitical undertaking that has morphed through various iterations, from the new silk road to one. Obor involves china underwriting billions of dollars of infrastructure investment linking countries in europe, asia, and africa. Kenya is the only pivot of chinas one belt and one road initiative in africa and the largest recipient of chinese financial aid in the construction of new silk road. Leung mentioned one belt, one road no fewer than 48 times during the policy address, but details were scant. While that chapter focused on bank and shadow bank debt at the macro level, this report looks at the more micro issues linked to the bri. If the chinese are able to convince countries that obor will be a force for good, the project could. The rise of china, one of the biggest economies in the world, is not negligible.
Chinas belt and road initiative also known as one belt, one road. The impact of chinas one belt one road initiative in. Ever since the policy of one belt one road initiative was propounded by president xi jinping, the gulf region countries saudi arabia, uae, qatar, kuwait, bahrain, oman, iraq and iranwhole. The plan involves more than 60 countries, representing a third of the worlds total economy and more than half the global population. Chinas one belt one road initiative and the gulf pearl chain.
Understanding chinas belt and road initiative 2 introduction at the end of 20 chinese president xi jinping announced one of chinas most ambitious foreign policy and economic initiatives. This paper assesses the likelihood of debt problems in the 68 countries identified as potential bri borrowers. Obor executes infrastructure projects in those connected countries and also improves trade among countries. Chinas one belt one road obor initiative should increase the efficiency of resource movements and trade, integrate previously marginalized regions and economies, and strengthen chinas economic and strategic position. Touted as chinese president xi jinpings ambitious project, the one belt one road initiative focuses on improving connectivity and cooperation among asian countries, africa, china and europe. The bri is geared towards encouraging greater connectivity, economic flow, the growth of job opportunities, investment, consumption, cultural exchange and the spirit of regional cooperation between asia, europe and africa by creating jointly.
Chinas belt and road initiative bri development strategy aims to build. One belt, one road obor is chinas muchtouted new foreign and economic policy. It is also a strategy for building a prosperous economy along the country and regions along the route. The list is constantly being updated and supplemented.
Financial integration asian infrastructure investment bank. In the fall of 20, president xi jinping of the peoples republic of china prc invoked the ancient silk road when announcing the one belt, one road obor initiative. The concept of the one belt one road initiative obor was raised by the president of the peoples republic of china in october 20. The policy developmentbased critique is more convincing in its way of.
Examining the debt implications of the belt and road. The rand center for asia pacific policy capp is part of international programs at the. Chinas belt and road initiative bri development strategy aims to build connectivity and. Originally known as one belt, one road, the belt and road initiative bri is a longterm policy and investment programme, aiming at infrastructure development and acceleration of the economic integration of the countries along the route of the historic silk road.
One belt one road obor by china should india join it. Building chinas one belt, one road center for strategic. It is short for the silk road economic belt and the 21stcentury maritime silk road. Cgd policy paper 121 march 2018 examining the debt implications of the belt and road initiative from a policy perspective chinas belt and road initiative bri hopes to deliver trillions of dollars in infrastructure. China referred to both collectively as one belt, one road obor. Introduction to one belt, one road proposed and led by china, the one belt, one road obor initiative involves massive infrastructure. It is revival of the old silk road connecting china through central asia to the middle east and europe.
Jul 07, 2016 chinese leaders have unveiled a foreign policy priority, the one belt one road scheme, an international treaty that seeks to supersede all previous trade arrangements. One belt one road project obor one belt, one road obor initiative, is the name of a plan to revive and better the spirit of the old silk road and a step towards realising the. Economic belt sreb and the 21stcentury maritime silk route msr. Chinas one belt, one road obor policy is aimed at investing large sums of money in infrastructure development in the area between the two silk roads, in an effort to join them together. In the medieval period, there was a silk route from china to other countries, which was. Since 20 one belt, one road obor, also belt and road initiative has been one of the most commonly used terms in public discourse regarding chinese foreign policy. The belt and road initiative bri, first proposed by president xi jinping in 20, is an ambitious effort to improve regional cooperation and connectivity on a transcontinental scale. Belt the one belt refers to the landbased silk road economic belt. He called for the building of a silk road economic belt and a 21st century.
Map of the transportation links along the belt and road initiative merics in september 2015, the government issued guidelines for official translation7 of. Chinas signature foreignpolicy project is a failure that the u. Jump to media player china has a big idea that it hopes will secure its future prosperity. Chinas massive belt and road initiative council on foreign. Chinas one belt one road policy or the new silk road strategy is the centrepiece of the xi jinping administration. On march 28, chinas top economic planning agency, the national development and reform commission ndrc, released a new action plan outlining key details of beijings one belt, one road initiative. Arguably, the most noteworthy in this regard is the new silk road strategic vision, now more often referred to as the one belt, one road obor initiative. The one belt one road initiative covers countries and regions with a total population of 4. Impact on chinapakistan economic corridor 149 obor among the partner nations.
Pdf one belt one road obor initiative is a historical initiative. A simple guide to understanding chinas one belt, one. The opportunities and challenges of one belt, one road. Chinas one belt, one road initiative parliament of australia. The one belt, one road initiative global trade analysis project.
If successful, this policy will further integrate economic ties and increase the cooperation of states across continents. Chinas marshall plan, pivot to eurasia or chinas way of foreign policy, ksi. The belt and road initiative bri, also known as the one belt and one road initiative obor, is a development strategy proposed by chinese government that focuses on connectivity and cooperation between eurasian countries. Vision and actions on jointly building a silk road economic belt and 21st century maritime silk road belt and road this new policy was announced in march this year by president xi jinping of the peoples republic of china and is collectively known as one belt, one road or simply the belt and road policy. In may 2014, china and kenya signed a cooperation agreement on the mombasa nairobi. One belt, one road the internationalization of chinas soes one belt, one road the internationalization of chinas soes the national policyone belt one roadhas created a conducive environment to make stateowned enterprises soes more global. One belt one road initiative is one biggest initiative proposed by president xi jingping in 20 to boost the world economy especially international trade, finance and the tourism. May 20, 2015 the genesis of the one belt, one road strategyalso known as the belt and road initiativecan be traced to three noteworthy public events that occurred in rapid succession in the latter part of 20. Chinas belt and road initiative hopes to deliver trillions of dollars in infrastructure financing to asia, europe, and africa. Chinas belt and road initiative bri is a multifaceted economic, diplomatic and geopolitical undertaking that has morphed through various iterations, from the new silk road to one. Apr 25, 2019 the best pieces to read as leaders meet in beijing. Dec 06, 2018 chinas signature foreignpolicy project is a failure that the u. This paper conducts two policy simulations to assess i the impact of obor on improvements in international transport servicesboth road and sea transport.
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