China’s One Belt One Road (OBOR) initiative
What is the target of the One Belt One Road (BRI) in the end?
Its principal goal is to be established through the instrumentalities of integration through the means of infrastructure development and facilitation of trades among the Asian, European, and African nations.
How is OBOR funded?
OBOR projects are wholly funded by the Chinese Government on loans, investments from Chinese State-Owned Enterprises, and partnerships with participant countries and international financial institutions.
What could be among the main projects of the OBOR campaign?
While we have various key projects such as the China-Pakistan Economic Corridor (CPEC), the Eurasian Land Bridge, the Jakarta-Bandung High-Speed Railway, and the Piraeus Port in Greece
What are the possible vices to this project?
Critics point out that the Chinese BRI projects may result in debt dependency for participating countries; there may also be lack of transparency in many OBOR projects and high levels of environmental degradation. There is also a probability of China’s strategic objective and the chance of the strategic influence.
What does OBOR contribute to cultural exchange, how does OBOR facilitate it and promote it as a mean of communication?
OBOR enables cultural exchanges by the way of academic exchange; tourism promotion; as well as by preservation of ancient historical sites along the original Silk Road routes.
What are the other objectives behind the BRI?
While the infrastructure construction is the major objective of OBOR, the initiative involves trade agreements, investment cooperation, and cultural exchange to meet the long-term goal of all-round cooperation among the countries.
In this regard, Which countries are cooperating with the OBOR initiative?
Countries involve more than 140, including international organizations, into cooperation within the framework of OBOR initiative and spread over the Asian, European, African, and Oceanic continents.
One Belt One Road – Belt and Road Initiative (Silk Road Reborn)
The One Belt One Road (OBOR), rebranded the Belt and Road Initiative, is arguably one of the most ambitious and extensive multilateral initiatives since World War II. Launched by China’s President Xi Jinping in 2013, the OBOR initiative was designed to rejuvenate and popularize the trade routes of the ancient Silk Road while catalyzing economic cooperation between Asia, Europe, and Africa.
Unlike the ancient trade route, the OBOR initiative comprises at least two main parts: the Silk Road Economic Belt and the 21st Century Maritime Silk Road. Furthermore, beyond infrastructure development, trade agreements, and cultural exchange, the “project” seemingly envisions enhancing connections, promoting prosperity, and empowering diplomacy among participating nations.
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