The Genesis of the Belt and Road Initiative
Through over four decades of reform and opening-up, China has benefited much from globalized economy and in the meantime, China’s rise has promoted the prospects of globalization, making competitive goods and services available for the majority of the globe, and enhancing the welfare of the humanity. To face the new challenges in the new era and on the road to the rejuvenation of China, China aims to develop faster and make greater contribution to the whole world through exploring a new mode of globalization enhancing the prosperity of mankind.
The Belt and Road Initiative is a China’s transcontinental long-term policy and development project focusing upon infrastructure development, connectivity and acceleration of the economic cooperation and integration of countries along the route of the historic Silk Road, across Europe, Asia, Middle East, Latin America and Africa. The Initiative was proposed by China’s President Xi Jinping during his visits to Central and Southeast Asia in September and October 2013. On March 28, 2015, the official outline for the Belt and Road Initiative was issued by the National Development and Reform Commission, the Ministry of Foreign Affairs and the Ministry of Commerce of the PRC with authorization of the State Council.
The Goals and Dimensions of the BRI
The cooperation and interconnectivity among countries in the framework of BRI is multidimensional, mainly aiming to promote policy coordination, connectivity of infrastructure and facilities, unimpeded trade, financial integration, and strengthen people-to-people bonds through joint efforts so as to bring benefits to all. Specifically, the priorities of the BRI are as follows:
- Policy coordination aiming to promote intergovernmental cooperation, multi-level intergovernmental macro policy exchange and the establishment of communication mechanism.
- Facilities connectivity aiming to improve connectivity of infrastructure construction plans and technical standard systems.
- l Unimpeded trade aiming to decrease investment and trade barriers, promote regional economic integration.
- Financial integration aiming to enhance coordination and cooperation in monetary policy, set-up of financing institutions.
- People-to-people bonds aiming to strengthen cultural and academic exchange and dialogue, media cooperation.
The Global Impact and Significance of the BRI
The BRI has been reshaping the world fundamentally. It is not only about the economy, or about infrastructure and development, it is also about the well-being of the people, about the culture, vision and knowledge. It aims at connecting people of different races, life philosophies, and beliefs all over the world. The essence of the BRI is to connect, coexist and share, aiming to build a better world, and make the world “a community of shared future for mankind”. British Economic historian Angus Madison argued that in history China remained “Number One Economic Power in the world for more than Nine Centuries” and more importantly, it never indulged in war and conflicts. During centuries of golden era of trade whether by land or maritime way, China tended to share the fruits of its prosperity with the other countries.
In order to promote the BRI, China has hosted the Belt and Road Forum for International Cooperation twice in 2017 and 2019 respectively. The forum represents the China’s effort to support multilateralism. Just as UN Secretary-General Antonio Guterres has said, China is “pillar of multilateralism.” The forum is an ideal platform of knowing and cooperation, through which the countries involved deepened mutual understanding, strengthened cooperation willingness and figured out co-development means. To some extent, the BRI “has created a new model for international co-ordination, turning strategic competition into strategic co-operation”.
The Achievements and International Recognition of the BRI
The launching of BRI is tremendously significant and will make a great contribution to world peace and development, making a far-reaching impact on the whole world. China is carrying out a large-scale cross-border development experiment, whose goal is not only to create a benign environment for its own development and prosperity, but also take China’s responsibility and its intention to pursue mutual benefits for long-term returns. Most of these countries involved in the Belt and Road are emerging and developing countries, facing similar challenges that China has encountered, experienced and overcome through infrastructure development. The experience from China shows that interconnectivity is critical to realizing development so as to ensure long-term sustainable economic and social security, which is inspirational for other developing countries. Through connectivity, the BRI will not only improve infrastructure building and industrialization but also help to reduce poverty, and protect ecological environment in the related countries making contribution to the achievement of the 2030 Agenda for Sustainable Development. So to some extent, the BRI is China’s plan of globalization and “China’s gift for the world”.
Since proposed, the BRI has enjoyed energetic development and made remarkable achievements, winning wide respect from international community. By shaping a new mode of international exchange, the BRI contributes to a fairer political world order. Instead of exporting the “Chinese mode”, it is offering “Chinese schemes”. As a practice to build a community with a shared future for mankind, the BRI is “the best gift for the world presented by China”, and also the largest opportunity to the world provided by China.
