The Belt and Road Initiative (BRI): A New Chapter in Globalization

 

The Belt and Road Initiative (BRI) is an ambitious program aimed at building greater global cooperation through mutually beneficial construction, educational, and cultural projects. First proposed by Chinese President Xi Jinping in late 2013 and later fully implemented by the Chinese government, the BRI envisions a massive road, railway, shipping, and air transportation network that will foster freer trade between countries along the Belt and Road.

Modeled on the transportation routes of the ancient Silk Road and the Maritime Silk and Porcelain Road, the BRI includes countries in East, Southeast, South, and Central Asia, Africa, and Europe. China hopes to continue to expand the scope of the initiative, opening it to any nation in the world that wants to participate in this expansive vision of free trade that is free of ideological constraints. In its fullest form, the BRI will see construction projects in developing nations that make use of both financial aid and the surplus production in more advanced countries like China, with technical expertise and know-how being provided by developed nations. At present, the greatest support for the initiative is coming from Asia and Africa, with moderate support coming from Eastern Europe.

It is hoped that greater communication of the goals of the initiative, such as is provided in the essays contained in this volume, will help more developed countries in North America and Western Europe understand the goal and lend their support through technical guidance and assistance, as well as financial investments. It is nearly five years since the first announcement of the Belt and Road Initiative, and in that time many new projects have been undertaken in numerous locations. If the next five years sees similar growth, the dream of a world in which trade and cultural exchange is freer and more equitable will be much more achievable than it is today. The essays included in this collection aim to help make the agendas and goals of the BRI clearer to everyone, and to help bring the dream to fruition.

 

Li Yining, the Honorary President of the Guanghua School of Management, Beijing University, initiated using the shareholding system to reform China’s economy and is called “Li Shares.”

Lin Yifu, the former Senior Vice President of the World Bank and chief economist, is currently Vice President of the National Federation of Industry and Commerce and a member of the State Council.