China’s Belt and Road Links Old Routes and New Opportunities

                         by David Parmer / Tokyo

This year RG21 will be doing a series of articles on the Belt and Road Initiative that revives the old Silk Road both on land and sea and not only brings East and West closer, but also promises benefits to those it touches along the way.

 In 2017 China marked four years of its Belt and Road Initiative proposed by China’s President Xi Jinping in 2013.The original concept was “Silk Road Economic Belt” and “21st Century Maritime Road.” This project has been described as the largest overseas investment project launched by a country, with $900 billion earmarked for development. Financing for the project involves the Asian Infrastructure Bank and financial institutions in 68 countries including The Work Bank, The Asian Development Bank, The BRICS New Development Bank and the Eurasian Development Bank as well as a number of other sovereign wealth funds and institutions.

In 2017 China hosted the Belt and Road Forum For International Cooperation in Beijing on May 14-15. Representatives from 130 countries and 70 international organizations attended. Topics covered included:

• Infrastructure
• Energy and natural resources
• Production
• Project study

In our next article we will be looking at the China Railway Express, or CR Express that operates transcontinental cargo trains from places like Yiwu in China all the way to Spain.

If you have any thoughts on the Silk Road or this project, please share them with us.

Photo: Sathish J via flickr