Explain China's Silk Road Economic Belt
24/03/2021 10:43
In 2013, China proposed constructing a Silk Road Economic Belt to expand Eurasian economic cooperation. with hopes to construct a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes in the Silk Road. Silk Road Economic Belt is part with the China-proposed Belt and Road Initiative (BRI). The initiative refers to the Silk Road Financial Belt plus the 21st Century Maritime Silk Road. An revolutionary cooperative strategy was outlined, starting with individual projects which can be anticipated to help spur larger-scale regional cooperative development. The proposed financial belt is regarded as the longest economic corridor within the world - and potentially probably the most dynamic - connecting the Asia-Pacific region in the east with developed European economies within the west. Get more information about China's silk road economic belt
1. Silk Road Economic Belt Idea and Overview
The Silk Road Financial Belt (SREB) was very first proposed by Chinese President on September 7, 2013. The Chinese President pointed out that "in order to produce financial ties closer, mutual cooperation deeper as well as the space of development broader involving Eurasian countries, we can innovate the mode of cooperation and jointly develop the "Silk Road Economic Belt" step by step to progressively type general regional cooperation".
Eurasia is one from the most significant domains of human beings, and an important origin of human civilization. Nearly 2,100 years ago, Zhang Qian, an envoy of China's Western Han Dynasty, twice traveled to Central Asia. For a huge number of years following this, a trade corridor connecting Eurasia extended and expanded just after generations of exploration. All through this corridor, business men brought silk, porcelain, tea along with other goods developed within the eastern end of Eurasia to Central Asia, West Asia, Europe and North Africa, though in turn, transported spices, jewelries along with other products from the West for the East. This corridor was named aptly because the “Silk Road”, by which, throughout its extended history, people of distinctive races and from diverse regions and varied cultural backgrounds explored and traded, benefited and learnt from one another, promotin geconomic and cultural integration and frequent prosperity. The "Silk Road" became the model for economic and cultural exchanges and integration by all ethnic groups in ancient Eurasian.
It could be stated that, before the rise of maritime trade, the Silk Road was an essential channel linking Eurasia, and wasone in the principal channels for international trade. On the other hand, right after the Industrial Revolution, in particular since the starting with the 20th century, although international trade, international finance, and international personnel exchanges became extra frequent as a entire, Eurasian economic and cultural exchanges have stalled, partially on account of limitations with the geographical environment, lack of infrastructure building, early stage of economic development, at the same time as other components. As a result, the concept of STEB has very vital significance for improving Eurasian land trade and strengthening financial regional financial integration.
2. Silk Road Financial Belt nations
The SREB in geographically financial sense starts from China around the eastend of your Eurasia continent, passes via Central Asia, West Asia, South Asia and some other regions by 3 lines (northline, middle line,and south line), approaches the Caspian, Black Sea, Mediterranean Sea plus the Arabian Peninsula, and arrives in Europe and North Africa around the westend of Eurasia. Especially, the 3 lines of the SREB are as follows:
"North Line": beginning from China, via Kazakhstan, by way of southern Russia, by way of Ukraine, the Belarus location, by Poland and also other Eastern European countries, and ultimately reaches Germany, arriving in Western Europe.
"Middle Line": beginning from China, by means of Kyrgyzstan, Tajikistan, Uzbekistan along with other Central Asian countries, by Turkmenistan, and continues along the south shore with the Caspian Sea, finally reaching Europe by way of Turkey.
"South Line": beginning from China, by way of Afghanistan, Pakistan, via Iran in to the Arabian Peninsula, and then reaches North Africa via Egypt.
What wants to be noted is that the three lines above just incorporate selected main countries in order to outline the SREB. As a notion of economic geography, the scope from the SREB covers not simply the above-mentioned nations, but in addition includes Central Asia, West Asia, South Asia and most countries in the Arabian Peninsula.
In addition, the substantial part of promoting regional integration and financial development of SREB spread to a wider region, which include the majority of North Africa and Europe, as well as the East Asian industrial chain such as Japan, South Korea and Southeast Asian countries. One end from the SREB could be the East Asian-Southeast Asia industrial chain, and also the other end connects the developed Europe and also the developing Africa. Even by the narrow-definition estimates, the SREB covers a population of 2.175 billion, accounting for 30.87 percent in the world's total population. It's also related to an economic scale of about 16 trillion U.S. dollars, accounting for 22.1 percent of world total. By the broad-definition estimates, the SREB covers a population of approximately 30 million, and relates to an economy of about 23 trillion U.S. dollars, with big industry potential.