Making inroads: China's New Silk Road initiative

China's New Silk Road initiative is a multistate commercial project as grandiose as it is ambitious. Comprised of an overland economic "belt" and a maritime transit component, it envisages the development of a trade network traversing numerous countries and continents. Major investmen...

Full description

Saved in:
Bibliographic Details
Published in:The Cato journal 2017-01, Vol.37 (1), p.135
Main Author: Guluzian, Christine R
Format: Article
Language:English
Subjects:
Chinese foreign relations
Construction
Construction costs
Development banks
Economic aspects
Economic development
Economic growth
Foreign policy
Funding
Government
Growth models
Infrastructure
International cooperation
Job creation
Methods
Participation
Pipelines
Political campaigns
Presidential elections
Public private partnerships
Reforms
Regions
Roads & highways
Sustainable development
Trade policy
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:China's New Silk Road initiative is a multistate commercial project as grandiose as it is ambitious. Comprised of an overland economic "belt" and a maritime transit component, it envisages the development of a trade network traversing numerous countries and continents. Major investments in infrastructure are to establish new commercial hubs along the route, linking regions together via railroads, ports, energy transit systems, and technology. A relatively novel concept introduced by China's President Xi Jinping in 2013, several projects related to the New Silk Road initiative-also called "One Belt, One Road" (OBOR, or B&R)-are being planned, are under construction, or have been recently completed. The New Silk Road is a fluid concept in its formative stages: it encompasses a variety of projects and is all-inclusive in terms of countries welcomed to participate. For these reasons, it has been labeled an abstract or visionary project. However, those in the region can attest that the New Silk Road is a reality, backed by Chinese hard currency. Thus, while Washington continues to deliberate on an overarching policy toward Asia, Beijing is making inroads-literally and figuratively- across the region and beyond.
ISSN:0273-3072
1943-3468