The year 2015 is witnessing plans being put in place under Chinese President Xi Jinping’s 2013 vision for a ‘Silk Road Economic Belt’.
A world-reshaping ‘One Belt, One Road’ (OBOR) has arrived.
Under OBOR, a ‘Silk Road Economic Belt’ through Central Asia, and a ’21st Century Maritime Silk Road’ through Southeast and South Asia are being planned.
See OBOR in: Wali on The Pakistan 2050 Opportunity
There are at least 116 projects being presented under OBOR (list below). Total worth of these projects is: $225 billion.
According to Center for American Progress blog, OBOR projects must meet three criteria. That the projects:
- were publicly proposed by China
- were accepted by the host country as part of the Belt and Road initiative
- had designated funding from a Chinese company or the Chinese government
VIDEO: How One Belt One Road (OBOR) works. CCTV
Four major takeaways about these projects:
- They create alternative trade routes for China to diversify and insulate its economic access.
- They promote the domestic economic viability of Chinese trade partners, such as Pakistan and Indonesia.
- They are clustered geographically in countries that already have active bilateral relationships with China and have a clear articulation of their infrastructure needs.
- They are supported by both Chinese companies and the Chinese government, which work in tandem to achieve the overall goals of the Belt and Road initiative.
With $46 billion China investment for CPEC (China-Pakistan Economic Corridor), Pakistan is one big beneficiary of OBOR.
Under OBOR, six economic corridors over 60 countries are being planned:
- Investments in energy, transportation, communication and industrial projects across Asia, the Middle East and Europe
- According to President Xi, within a decade, China’s annual trade with countries involved in OBOR will exceed $2.5 trillion
Our reports on China-Pakistan relations:
Above: One Belt One Road (OBOR) list of 65 countries.
More on China’s economic & military rise & Xi Jinping:
25 August 2016 update: Chinese-built Tajikistan Railway, the first railway project in One Road One Belt (OBOR) initiative, started operation on Wednesday, People’s Daily, China, said.
More on China’s internal cleaning:
OBOR Map courtesy: The Wall Street Journal
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