China’s Belt and Road Initiative (BRI) marked its fifth birthday in September 2018, though there was probably less to celebrate than the Chinese authorities might have wished. Five years after President Xi presented the initiative to the world in a speech in Kazakhstan, the BRI is facing pressures on three fronts.
belt and road initiative
Mirwais Parsa | China, an economic giant, has started the move to revitalize the ancient Silk Road. Its ambitious Belt and Road (B&R) initiative includes a major investment in South Asia: the $46-billion Wakhan corridor, which would connect if built, China, Pakistan, Afghanistan and Tajikistan, bringing stability to the region.
Jens Bastian via Macropolis | The “Balkan Silk Road” is the name given to the transport route and logistics corridor China has begun to establish in the Balkan region even before the official launch of the BRI two years ago. The Balkans, and by extension Southeast Europe, is a region where China can empirically test various elements of the BRI. The “gate towards Europe”, as the Chinese Prime Minister Li Keqiang termed Greece during a visit in 2014, initiates the Southeast European corridor of the Silk Road.
Andrew Sheng via Caixin | No one disputes the great and noble strategic vision of the “Belt and Road” initiative. But after various in-depth analyses, there are three issues that need to be solved before the project can proceed with success.
Pan Che via Caixin |CBRE, the world’s largest commercial real estate services firm by revenue, said China’s official data on outbound direct investment (ODI) does not fully capture the overseas shopping pattern of Chinese companies, particularly those with assets and lending facilities offshore.
Richard N. Cooper via Caixin | In 2013 President Xi Jinping announced the Belt an Road initiative to create a new Silk Road, by land and by sea. The sea route has been well-established since the Suez Canal opened in 1869, but modernizing land routes will be much more difficult, both in engineering terms and especially in economic terms.