Focus On 13 February 2017
One Belt One Road: last train for Beijing
The Belt & Road initiative is an ambitious development campaign through which China wants to boost trade and stimulate economic growth across Asia and beyond. It hopes to do so by building massive amounts of infrastructure connecting it to countries around the globe. By our estimates, thanks to OBOR Chinese trade could reach USD 2,500 billion iin 10 years.
WHAT IT IS
It is a strategic initiative launched in 2013 by the Chinese president Xi Jinping.
It consists in creating two passageways, one on land (One Belt) through Central Asia and one in the sea (One Road) over the Indian Ocean and Africa, designed to join China to Europe.
In addition to the physical connections which will be created with the construction of infrastructures, it also aims to create an area of political and economic cooperation in which the main player is China.
WHAT IT DOES
The objectives of the Belt & Road initiative are to:
- increase the trade between China and the European countries and make it more efficient
- access and diversify the sources of energy supply
- expand China’s political and economic influence
- make China the new “Central Country” replacing the USA as the new global player
- “export” the excess Chinese production capacity.
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Various 07 October 2019
Interview with Alessandro Terzulli, Chief Economist at SACE.