July 5th, 2017
Belt and Road Initiative Gains Steam 一帶一路備受矚目‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥‥p. 1
Belt and Road Initiative Gains Steam by Theodore Pigott, special correspondent In the past, the Silk Road was one of the most important trade routes in the world. It connected countries in the East and the West, and it encouraged commerce, while allowing for an exchange of products, ideas, and even cultures. Now, thousands of years later, a new type of Silk Road is being established──the Belt and Road Initiative. The official name of this project is actually “the Silk Road Economic Belt and the 21st-century Maritime Silk Road.” It is also known as the Belt and Road (B&R). Basically speaking, it is a large-scale development project that is meant to increase commerce and cooperation between Asia, Europe, and Africa. The Belt and Road Initiative was first announced in 2013, and it has been championed by Chinese President Xi Jinping. In fact, Chinese President Xi Jinping is so committed to the project that he has promised US$124 billion for the Belt and Road Initiative. Much of this money will be spent on strengthening China’s own infrastructure, but at least US$9 billion will be spent on improving the infrastructure in developing countries that are a part of this trade route. Some experts claim that Chinese officials are now looking to international trade as an alternative because economic growth in China slows. Chinese President Xi Jinping once said that free trade was an important engine for development. He has also promised that the program will bring about win-win cooperation and mutual benefit, and not become a “game between foes.” However, some critics worry that the program is just another way for China to expand its influence in the region. And a few wonder if the project can be successful in developing countries that are politically unstable. Yet, many say that the Internet is already making the Belt and Road Initiative a necessity. Today, millions of people are using e-commerce sites like Alibaba to buy and sell products, and all of these
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