The directions of development of the new Chinese ‘Belt and Road Initiative’ (BRI)

Abstract

In this research work, the author focuses on the analysis of the directions of development of the new Chinese ‘Belt and Road Initiative’ (BRI) or ‘One Belt, One Road’ (OBOR) as a project launched by China to develop countries and improve global connectivity. First unveiled in 2013 by Chinese President Xi Jinping, the initiative continues to grow in scale and popularity. The initiative is focused on creating networks that will allow for a more efficient and productive free flow of trade as well as further integration of international markets both physically and digitally. BRI is comprised of the ‘21st Century Maritime Silk Road’ and the ‘Silk Road Economic Belt;’ together they will connect more than 65 countries making up over 62% of the world’s population, around 35% of the world’s trade and over 31% of the world’s GDP. It will take the form of a series of highways, railways and ports as well as facilities for energy, telecommunications, healthcare and education. It must be emphasized that the initiative merges both the land-based Silk Road (from China via Central Asia to Turkey and the EU) with the Maritime Route (via the Indian Ocean and Africa to Europe). Both routes were created with the intention of developing transportation infrastructure, facilitating economic development and increasing trade. This 21st-century initiative is not merely for China to romanticize its historical legacies: it carries major strategic economic and geopolitical calculations. The EU must decide now if and how to engage in these emerging processes. The main aim of the article is to present the directions of development of the new Chinese ‘Belt and Road Initiative’ (BRI) as a project, launched by China to develop countries and improve global connectivity.