One Belt, One Road
"One belt, one road" is a development strategy started by the Chinese government in 2013. It refers to the New Silk Road Economic Belt, which will link China with Europe through Central and Western Asia, and the 21st Century Maritime Silk Road, which will connect China with Southeast Asian countries, Africa and Europe. The two are collectively known as the Silk Road Initiatives. Neither the belt nor the road follows any clear line geographically speaking; they serve more as a roadmap for how China wants to further integrate itself into the world economy and strengthen its influence in these regions. Many of the countries mentioned have traditionally had close trade and investment relations with China, which says they should deepen cooperation, especially in terms of building infrastructure and other development projects. The strategy underlines the government's push to have a bigger say in global economic and political affairs, and to export China's technologies and production capacity in oversupplied areas such as steel manufacturing.
In the News
China recently pledged US$ 40 billion to a Silk Road Fund designed to improve trade and transport links in Asia. President Xi Jinping says the fund will be used to support the development of "one belt and one road," or the New Silk Road Economic Belt and the 21st Century Maritime Silk Road.
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