As China’s economy has advanced, China is now increasingly taking the lead in the creation of new institutions, designed not to supplant existing bodies but to supplement them, and based on broad and inclusive participation. By far the most ambitious, visionary and transformative initiative that China has unveiled is the Belt and Road Initiative. According to the vision of the Chinese government, the Belt and Road Initiative is in line with the purposes and principles of the United Nations Charter and follows market principles. The initiative is an open, harmonious and inclusive one. The new silk road is envisaged to go in five directions and involves six economic corridors. To translate this grand vision into reality will require tremendous investment in infrastructure and in all sectors of the economy. Cumulatively it represents the greatest business opportunity in the contemporary world. China and the rest of the world ought to work together to seize the opportunity and overcome the challenges. The UK can play a significant part particularly in sectors where it remains acknowledged global leaders and world-class companies. It is long past time for “zero sum” solutions to give way to “win-win” outcomes, and the Belt and Road Initiative is exactly a win-win project.
This article was originally the conference paper for Silk Road Forum 2016 and has been granted authorization to use by the 48 Group Club.
Executive summary is based on the article. Copyright © The 48 Group Club. All rights reserved.