中文
By Mohammed Saqib
The Belt and Road Initiative (BRI), proposed by China in 2013, aims to promote economic cooperation and connectivity across Asia, Europe, Africa, and beyond. It comprises the Silk Road Economic Belt, focusing on land infrastructure, and the 21st Century Maritime Silk Road, emphasizing maritime connectivity.
So far, more than 150 countries and over 30 international organizations have signed over 230 cooperation documents under the BRI. From 2013 to 2022, the cumulative value of imports and exports between China and BRI partner countries was $19.1 trillion.
Infrastructure development and regional connectivity
Infrastructure development is the cornerstone of the BRI. Hundreds of projects have been launched under its umbrella. By 2021, China had invested or financed a total of $843 billion in construction and investment projects under the BRI, according to Aid Data, a U.S.-based research lab from the College of William and Mary.
BRI's impact on employment
A key achievement of the BRI in job creation is evident in Pakistan, particularly through the China-Pakistan Economic Corridor (CPEC). By the end of 2022, the CPEC had generated about 236,000 jobs for Pakistan and spurred growth in industries like textiles, cement, and steel, further expanding employment opportunities.
Serving as a technology provider
A significant technological contribution of the BRI is the development and export of high-speed rail networks. This Chinese high-speed rail technology has transformed transportation in BRI countries, notably reducing travel times and enhancing efficiency.
Another critical area where the BRI has had a significant impact is the development of renewable energy sources. The BRI has financed various projects, including solar, wind, and hydroelectric power plants.
The BRI has also positively influenced the development of digital infrastructure in participating countries. It has financed projects such as data centers, fiber optic cables, and satellite systems.
Furthermore, the BRI has contributed to fostering innovation and entrepreneurship. It has established various innovation hubs and incubators, providing funding, mentorship, and resources to startups and small businesses.
In addition to these technological advancements, the BRI has facilitated collaboration and knowledge sharing among participating countries. It has organized forums and conferences, bringing together experts and policymakers to share best practices and discuss technological innovations.
Fueling the manufacturing drive
The development of infrastructure under the BRI has improved logistics and reduced transportation costs. This enhancement has facilitated the expansion of production networks and access to new markets, thereby boosting the competitiveness of firms. Additionally, the BRI has fostered industrial cooperation between countries, leading to the establishment of industrial parks and special economic zones.
A notable achievement of the BRI is the transfer of expertise and technology, especially in renewable energy, high-speed rail, and smart manufacturing, between Chinese companies and local businesses in participating countries.
Moreover, the BRI has opened up new trade routes for participating countries, leading to diversified revenue streams and heightened competitiveness of their businesses.
Lastly, the BRI has encouraged the adoption of eco-friendly technologies and practices, such as renewable energy sources and eco-friendly manufacturing processes.
Future projections
The BRI will likely continue to expand as more countries and regions express interest in participating. Expect new projects and partnerships, primarily in Southeast Asia, Central Asia, Africa, and the Middle East.
Addressing environmental concerns, the BRI is focusing on incorporating sustainable practices into its projects. This includes emphasizing green infrastructure, renewable energy, and environmentally friendly development. Efforts to address climate change and promote ecological conservation are expected to be integrated into project planning and implementation.
The BRI may prioritize connectivity beyond physical infrastructure, placing greater emphasis on digital connectivity. This involves developing digital infrastructure, e-commerce platforms, and cross-border data flows. Integrating digital technologies and innovation can enhance trade, communication, and economic cooperation among participating countries.
Increased efforts to enhance multilateral collaboration and cooperation, including with international organizations, regional bodies, and other major powers, are likely. This approach aims to ensure transparency, sustainability, and inclusive development within the BRI framework.
Recommendations
To ensure the BRI develops effectively, sustainably, and inclusively, the following recommendations are proposed:
1. Focus on social responsibility and local engagement: Prioritize the welfare and rights of local communities involved in BRI projects.
2. Promote financial sustainability: Policymakers should enhance the financial sustainability of BRI projects. This involves conducting comprehensive debt sustainability assessments and ensuring responsible lending practices.
3. Facilitate technology transfer and capacity building: Promote technology transfer and knowledge sharing between China and participating countries.
4. Embrace collaboration on global challenges: Collaborate with participating countries to address global challenges like climate change, public health, and poverty reduction.
5. Emphasize cultural exchanges: Promoting cultural exchanges, academic cooperation, and tourism can enhance mutual understanding and strengthen diplomatic ties.
By implementing these recommendations, the BRI can improve its effectiveness, address challenges, and create a more sustainable and inclusive platform for economic cooperation, infrastructure development, and shared prosperity among participating countries.
Mohammed Saqib, economist, secretary-general of India China Economic and Cultural Council (ICEC).
Editors: Li Xiaohua, Zhang Heling, Xu Xiaoxi, Zhang Liying.
This article is an excerpt from "BRI at 10: Achievements, Challenges, and Future Directions," which will be published in the journal Contemporary China and the World.
