The belt and road initiative bri, also known as one belt, one road obor, is chinas highly ambitious development project aimed at resurrecting the chinese ancient silk road and realizing the chinese dream. Road economic belt and the 21st century maritime silk road, to one belt, one road to the belt and road initiative and what we will heretofore refer to as obor has finally begun to take shape. Multilateralism on the silk road mike callaghana and paul hubbard b anonresident fellow, lowy institute for international policy, australian. Central asia occupies the centrepiece of chinas silk road economic belt sreb initiative. The belt and road initiative addresses an infrastructure gap and thus has potential to accelerate economic growth across the asia pacific area, africa and central and eastern europe. May 07, 2020 how chinas belt and road initiative went astray by chan kung and yu tony pan. Taking the lead with key continental eurasian actors, china, india and russia, and other relevant actors to set up a joint consultative belt coordination mechanism. Belt refers to the silk road economic belt, which passes overland from china through central asia to continental europe. It is a great undertaking that will benefit people around the world. The initiative is essentially an economic effort but when implemented would also.
The economics of the silk road economic belt sarah lain and raffaello pantucci title over 180 years of independent defence and security thinking the royal united services institute is the uks leading independent thinktank on international defence and security. The main purpose of this study is to explore implication of one belt one road initiative for global future development. Road economic belt during a visit to kazakhstan in september 20. International journal of business and economic development, vol. The economics of the silk road economic belt o n 20 october 2015, rusi held a daylong workshop in almaty, kazakhstan, in collaboration with kimep university and the friedrich ebert stiftung fes. Yet, reviving the silk road in central asia will not be easy and the geopolitical challenges will be the biggest hurdle to building the sreb in the region. Projects have been identified, institutions created and money spent. Building silk road economic belt and 21st entury maritime silk road exhibit 2. Ernesto gallo while russia and china are heralding a new strategic partnership, this policy brief explores how competition between the two countries may increasingly emerge in regard to central asiaa region where both are attempting to further bolster. An empirical research on agricultural trade between china. The eurasian economic sector has exhibited a strong pattern that it is welldeveloped on both ends, but underdeveloped in the middle. Belt and road is an initiative by the chinese government aimed at reviving the historic silk road between china, europe and the middle east. The prospects and perils of building chinas new silk road. The building of the silk road economic belt is an exciting prospect that may bring immense economic benefits to eurasian countries.
The belt and road, china, agricultural products trade, competition, complementarity 1. However, intensive human activities to be induced by it. The belt is the silk road economic belt, designed to reinvigorate landbased trade and development in the countries on the historic silk road. The one belt, one road obor initiative creates significant opportunities for organisations to participate in a range of projects, especially those involved in the infrastructure, construction, heavy equipment, energy, water and related industries.
Territorial boundaries of the two initiatives overlap. Multilateral formats of interaction are designed to set up regional interaction and cooperation frameworks. The name refers to the land and sea trading networks of the ancient and middle ages that have connected east, south and west asia with europe and north africa. In both central asia and south asia specifically pakistan, the belt could. The silk road economic belt the belt component of the belt and road initiative, announced by xi jinping over four. This saw the beginnings of the one belt one road strategy or the belt road initiative bri. In taking on geopolitical overtones, the bri has become alienated from its. Policy implications of new and emerging research friday, january 24th center for global development 2055 l st, nw fifth floor washington, dc 20036 agenda 8.
Understanding chinas belt and road initiative lowy institute. The economic volume of east asia represented by china. Spatial economics in the era of one belt one road and. In april and may 2017, it issued guidance on promoting green belt and road and belt and road. The eurasian economic union and the silk road economic belt. One belt, one road a matrix game of great power economics. The world bank, compiled by the fung business intelligence centre. Belt and road initiative, global value chains, economic integration. Interaction with security dynamics in south asia 28 2. The silk road economic belt and the 21st century maritime silk road. Fred krupp, president of environmental defense fund edf agrees that edf could bring economic prosperity and environmental improvement.
Economic significance of one belt one road countries for a full list of the countries included in the computation, please refer to the appendix. Some implications of the belt on security dynamics in central and south asia are as follows. Chinas one belt one road initiative is a global economic interconnectivity project that connects the countries through seaports, economic corridors, roads, railways, canals, bridges, gas and oil pipelines etc. Research fellow, center for the study of chinese military affairs. Ostensibly an economic initiative, the belt also has important strategic implications, and is. Dhl global forwarding china belt and road initiative and.
The 21st century maritime silk road is a sea route running west from chinas east coast to europe. Chinas one belt, one road initiative obor, now known officially in china as the belt and road initiative bri, and the may 2017 conference in beijing, called the belt and road forum bri forum, was a major theme in news analysis and commentaries all over the world. He called for the building of a silk road economic belt and a 21st century. To build a new and sustainable silk road economic belt. The silk road economic belt and the 21stcentury maritime silk road, also known as the belt and road initiative, is a development strategy and framework, proposed by chinese paramount leader xi. Pdf building a new and sustainable silk road economic belt. Introduction the belt and road initiative, namely the silk road economic belt and 21stcentury maritime silk road, is chinas major move to expand and deepen the openingup policies to the outside world, arousing wide concern in the international community. Road economic belt and the 21stcentury maritime silk road to better connect cities in the eastern, middle and western parts of china, and link its major seaports to asia pacific and eastern europe, the two biggest growth engines in the global economy today. It also analyzes the reasons of origin, strategy, opportunities and challenges of obor initiatives on the basis of.
Security in the context of the report is defined broadly in relation to intra and interstate stability. The silk road economic belt friedrich ebert foundation. One belt, one road is a modified advanced matrix game about chinas efforts to recreate the ancient trade routes between asia and europe via sea belt and land road. However, intensive human activities to be induced by it may double the water crisis in central asia, deteriorate the vulnerable environment, and accelerate energy consumption in this area. Geostrategic and military drivers and implications of the. Vision and actions on jointly building silk road economic. The belt and road initiative the belt and road initiative refers to the silk road economic belt and 21st century maritime silk road, a significant development strategy launched by the chinese government with the intention of promoting economic cooperation among countries along the proposed belt and road routes. Lewis and diana moise 3 the political economy of obor and the global economic center of gravity usman w. Implication for future of global development article pdf available in modern economy 0904. Compatibility with russian security interests 39 2. Among other objectives, the belt intends to promote infrastructural development and connectivity, and stimulate economic integration across the eurasian. Interaction with security dynamics in central asia 19 2.
The silk road economic belt the belt component of the belt and road initiative proposed by china in 20 is an ambitious vision that has evoked enthusiasm among many stakeholders. Official pdf, 57 pages world bank documents world bank group. Road economic belt and the 21stcentury maritime silk road. Page 4 of 48 1 introduction in 20, on a visit to indonesia and kazakhstan, chinese president xi jinping proposed jointly building the silk road economic belt sreb and the 21st century maritime silk road msr known as the one belt one road obor initiatives, which later the english name changed. From silk road to silicon road chartered institute of. Trade and trade facilitation along the belt and road. 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 instant president xi jinping proposed his silk road economic belt and the 21st century maritime silk road also known as the one belt, one road obor or belt and road initiative bri, there was an intense curiosity and interest surrounding this proposal and the same still continues unabated. In 20 xi jinping, president of the peoples republic of china, announced the new silk. The focus of the workshop was the economics behind the chinese silk road economic belt sreb and its impact in central asia. The overall objectives and specific tasks and measures are further clarified. Building a new and sustainable silk road economic belt. The eurasian economic union and the silk road economic belt are the most discussed initiatives to turn central asia from a landlocked into landlinked region. From the perspective of spatial economics, chinas one belt one road obor initiative has epochmaking significance. Motivations, financing, expansion and challenges of xis everexpanding strategy 1 executive summary this paper argues that with more objectives added since its inception in 20, chinas belt and road initiative bri has evolved into a much more expansive grand strategy that includes a package of themes and. The plan aims to develop a new economic cooperation framework within the region by. Road can help promote the economic prosperity of the countries along the belt and road and regional economic cooperation, strengthen exchanges and mutual learning between different civilizations, and promote world peace and development.
The silk road economic belt the belt component of the belt and road initiative, announced by xi jinping over four years ago, represents an ambitious chinese vision to promote infrastructural development and connectivity, and stimulate economic integration across the eurasian continent. Both initiatives were announced by president xi jinping in 20. A month later in october 20, xi proposed the msr while speaking at the indonesian parliament. What you need to know the belt and road initiative bri is a combination of two initiatives. While the belt provides ample opportunities for sourcing resources and commodities from the west and. The silk road economic belt is a new economic development zone on the basis of the an. It includes developmental factors and encompasses human security. Chinas proposal to revive the silk road is an ambitious idea based on multilateral cooperation.
Its mission is to be an analytical, researchled global. A month later while visiting southeast asia, a complementary 21st century maritime silk road was further introduced. This study was fully funded by the chinaworld bank group. A journal of the academy of business and retail management abrm 30 ration to build the new silk road economic belt together so that we forge closer economic ties between. The belt and road initiative, namely the silk road economic belt and 21stcentury maritime silk road, is chinas major move to expand and deepen the openingup policies to the outside world, arousing wide concern in the international community. The silk road economic belt and 21st century maritime silk road the silk road economic belt is an overland network of rail and road. In september 20, during his trip to kazakhstan, chinese president xi jinping proposed the concept of the silk road economic belt sreb. The silk road economic belt and the 21st century maritime. The idea of central asia as a regional grouping in political and security terms is almost non.
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