What is China's ambitious 'Belt and Road'?

The “Belt and Road” initiative is a huge and ambitious project that promises to benefit many countries if successful.

China's “Belt and Road” initiative is inspired by the ancient Silk Road, a centuries-old network of trade routes between Europe and Asia, and East and West.

This is a trade initiative, a giant economic connectivity strategy, promoting cooperation between countries and regions, not only in the economic field but also in culture and society.

Chinese Dream

The Belt and Road Initiative is considered the brainchild of Chinese President Xi Jinping and his most important foreign policy initiative to date. Xi calls it the “project of the century.”

Through this initiative, it can be seen that Mr. Tap is pursuing a proactive foreign policy, breaking away from the foreign policy ideology of "hiding one's strength and biding one's time" and "avoiding being a pioneer" of previous leader Deng Xiaoping.

Chinese President Xi Jinping and Pakistani Prime Minister Nawaz Sharif at the Belt and Road Forum in May 2017. Photo: Reuters.

The Belt and Road Initiative consists of two parts: the overland economic belt and the maritime Silk Road. The overland belt includes the ancient Silk Road area and its extension, with six major corridors connecting Europe and China.

The entire “Belt and Road” connects East Asia, Central Asia, the Middle East, North Africa and Europe. The Maritime Silk Road alone connects the Chinese coast with Europe via the South China Sea and the Indian Ocean, and goes from the Chinese coast through the South China Sea to the South Pacific.

The modern “Silk Road” project focuses on building road, rail and sea infrastructure, air routes, oil pipelines, power lines, and telecommunications systems to enhance inter-regional connectivity.

The “Belt” concept was first introduced by Mr. Xi in September 2013 when the Chinese leader visited the Central Asian country of Kazakhstan. Speaking at Nazarbayev University, Mr. Xi proposed that Central Asia cooperate with China to build a Silk Road Economic Belt.

In October 2013, Xi proposed building closer ties between China and ASEAN, and for the first time made suggestions about a 21st-century Maritime Silk Road.

Speaking in the Indonesian parliament at that time, Mr. Xi proposed establishing the Asian Infrastructure Investment Bank (AIIB) to provide finance for infrastructure construction and promote regional connectivity and economic integration.

In February 2014, Xi Jinping and his Russian counterpart Vladimir Putin reached a consensus on building the “Belt and Road” and on connecting this system with Russia's Eurasian railway system.

In May 2014, the first phase of a logistics center jointly built by China and Kazakhstan began operating in Lianyungang in Jiangsu Province, China. The center is an ideal transit point for goods from Central Asian countries to foreign markets.

In October 2014, 21 Asian countries volunteered to join the AIIB as founding countries. They signed a Memorandum of Understanding on the establishment of the AIIB. (The bank was officially established in late 2015.)

In November 2014, President Xi Jinping announced that China would contribute $40 billion to establish the Silk Road Fund.

In December 2014, Thailand approved the draft Memorandum of Understanding between Thailand and China on railway cooperation.

In January 2015, the number of AIIB member countries increased to 26.

And on May 14-15, 2017, the Belt and Road Forum for International Cooperation took place in Beijing, China. The event was attended by about 30 heads of state and government as well as delegations from more than 100 countries.

China's sincerity?

In March 2015, Chinese Foreign Minister Wang Yi rejected any comparisons to the US-sponsored Marshall Plan after World War II. Wang said at the time that the initiative was a product of cooperation, not a geopolitical tool, and “should not be viewed with an outdated Cold War mentality.”

Meanwhile, President Xi Jinping has asserted that the goal of the “Belt and Road” initiative is to build partnerships, not alliances.

China has repeatedly stressed that the “Belt and Road” is open to all, aiming to improve infrastructure along this major route, bringing benefits to local people.

They also affirmed that they “never force any country to participate in the Belt and Road Initiative if that country feels too skeptical and worried”.

China is eager for this huge project. They are currently pouring about 150 billion USD per year into related projects in 68 countries participating in this Great Economic Integration Initiative.

The Belt and Road Initiative involves 65% of the world’s population, a third of global GDP and transports a quarter of the world’s goods and services. China has the financial muscle to build infrastructure, while many countries are desperate for capital and jobs.

In this grand initiative, China appears to be highly pragmatic and economically oriented, perhaps similar to the approach it has pursued in Asia.Africa and AsiaLatin America.

Four years (from 2013 to now) is not a long time for such a “super-huge” project. And it is still early to confirm whether the project is a success or a failure. But if successful, this initiative will certainly bring huge economic benefits to China, helping the country expand the market for their goods and technology.

Domestically, China wants to boost the economies of poor regions like Xinjiang, thereby limiting instability, violence, terrorism and separatism.

But by doing so, China will inevitably have the conditions to increase its political influence along these economic corridors. Implementing the “Belt and Road” gives China the opportunity to compete for influence with the United States, which is currently focusing more on domestic issues. Some observers do not completely rule out the element of geopolitical ambition, wanting to restore its former strength on the international stage, making China “great” again.

But there is at least one major problem: the Maritime Silk Road is tied to the South China Sea, a hot spot with many unresolved issues. President Xi Jinping himself has often vowed never to sacrifice his country’s “core interests” on this issue.

Attitude of countries

Many countries have expressed enthusiasm and support for China’s “Belt and Road” proposal, but many others have been cautious and reserved. China itself is aware of these doubts and hesitations and is actively trying to convince countries to believe in this mega-project.

Attending the Belt and Road Forum in Beijing, both Pakistani Prime Minister Sharif and Turkish President Erdogan hailed the initiative as a powerful tool to eliminate imperialism.terrorism.

Russia is worried about losing influence in Central Asia (due to China's penetration), but currently Russia's financial capacity is limited, they are entangled in tensions with Ukraine and are subject to Western sanctions, so basically Russia is alsogo withChina's "Belt and Road" project.

Few Western leaders attended the Belt and Road Forum in Beijing. US President Trump did not attend. German Chancellor Merkel declined the invitation. Only one head of government from a G7 country, Italian Prime Minister Paolo Gentiloni, attended the event.

Germany's economy minister said on May 14 that his country and other EU countries will not sign a joint trade declaration at the Belt and Road Forum if they do not receive guarantees from China on free trade, environmental protection and labor conditions.

India has openly boycotted the Belt and Road Forum for International Cooperation. India is unhappy with the China-Pakistan Economic Corridor (CPEC) due to its involvement in the disputed territory of Kashmir between India and Pakistan. In fact, China has deployed tens of thousands of security personnel to protect projects along the CPEC route.

India is on high alert, viewing the Belt and Road Initiative as a “smokescreen” for China to hide its ambitions to gain strategic control over the Indian Ocean. India is also concerned about China’s expanding influence in India’s neighboring South Asian countries, and the risk of countries becoming dependent on Beijing’s capital.

Both Japan and the US have refused to join the Asian Infrastructure Investment Bank (AIIB). In response to China's moves, Japan has responded by pledging (in 2015) to spend $110 billion on infrastructure projects in Asia over the next five years./.

According to VOV