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Belt and Road reshaping global economy

May 03, 2017


Abstract : The Belt and Road Forum for International Cooperation will become a milestone for China’s diplomacy and signify China’s leadership in the global development.

The Belt and Road Forum for International Cooperation, to be held in Mar. 14 and 15 in Beijing, will become a milestone for China’s diplomacy and signify China’s leadership in the global development.

 

The Belt and Road Forum for International Cooperation is of great significance.

 

First, “Chinese proposal” will lead international cooperation. The Belt and Road initiative is China’s first proposal for international cooperation. This forum is the highest-level international meeting on the Belt and Road since the launch of the initiative. The forum will exert more positive influence on the world, which is besieged by the sluggish economy and a wave of anti-globalization.

 

Second, “Chinese proposal” will become an influential and in-depth plan for cooperation among countries. Since its launch, the Belt and Road is open to all developed and developing countries, including countries in and outside the Belt and Road zone. All parties will draw lessons from the experience in the past 3-plus years at the forum, which is expected to attract more partners to join in the initiative.

 

Third, “Chinese proposal” will become a truly international cooperation plan instead of a regional concept. Over 1,200 officials, scholars, entrepreneurs and journalists will attend the forum. They are from 110 countries in Europe, Asia, North America, Latin America and Africa. It shows that the Belt and Road has expanded from the ancient silk road and become a global cooperation platform that is recognized by most of the countries in the world.

 

The Belt and Road has become a reality from a blueprint more than three years after it was proposed and is about to embark on a new era of overall cooperation. What will the forum bring about?

 

First, more high-level cooperation agreements will be reached at the forum. China has so far signed cooperation agreements with more than 40 countries and international organizations to jointly build the Belt and Road. It is expected that China will gain more partners at the forum, that is, nearly 20 countries and over 20 international organizations. In addition, all parties that attend the forum will have in-depth discussions over policies, key cooperation areas, the establishment of a high-level cooperation platform that integrates strategies, plans and policies.

 

Second, efforts to push forward the Belt and Road will be more pragmatic and efficient. The forum is expected to bring about an overall plan for the development of the Belt and Road in the following years and a mechanism like G20. All parties attending the forum will review key cooperation projects, make lists of future cooperation projects and make sure these projects will be carried out, strengthen the role of bilateral and multilateral cooperation mechanisms within the framework of the Belt and Road.

 

Third, the forum will push forward the integration of the global economy. The Belt and Road is, in essence, an evolution to reshape the global economy. The key to success lies in connecting infrastructure. According to primary estimates, China will cooperate with partners to jointly formulate nearly 20 plans in key areas including infrastructure, energy and resources, production capacity cooperation, trade and investment. It will reshape the economy along the Belt and Road, speed up the integration and joint development of Europe and Asia, and eventually reshape the global economy, modernize global infrastructure, improve economical growth and realize globalization.

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