I recently came across an interesting article by Financial Times, China’s Great Game: Road to a New Empire. It describes China’s new Silk Road program – “a modern version of the ancient trade route,” and how it has become China’s signature foreign policy initiative under President Xi Jinping.
The New Silk Road program consists two routes, known as “One Belt, One Road” (see the map). The land route is called “the Silk Road Economic Belt,” linking central Asia, Russia and Europe. The sea route has an odd name: “the 21st Century Maritime Silk Road,” and goes through the western Pacific and the Indian Ocean. Thus, “One Belt, One Road.”
If successful, the New Silk Roads could be the largest economic development scheme on the face of the earth. The Financial Times article compares it to the US-led Marshall Plan after WWII:
If the sum total of China’s commitments are taken at face value, the new Silk Road is set to become the largest programme of economic diplomacy since the US-led Marshall Plan for postwar reconstruction in Europe, covering dozens of countries with a total population of over 3bn people.
Indeed, if successful, the New Silk Road program will be triple wins for China. Continue reading