The Chinese government has launched an economic and geopolitical plan on a grand scale with its infrastructure ambitions. And it’s not just a plan anymore, the famed “One Belt, One Road” project has officially started being put into action by engineers, bankers and laborers all around the world.
The project aims to extend China’s economic influence and connection with the global community. It is currently achieving this goal by investing billions of dollars in infrastructure projects in countries across Asia, Africa and the European continent.
One of these projects is a $6 billion railway going through Laos which will eventually connect eight Asian countries. And this is only one project of many, with the estimated total cost of One Belt, One Road being greater than $1 trillion.
The Chinese strategy is to build relationships with other countries through investments in infrastructure – even when China is aware that the investments may not be financially solid. It seems the world superpower is willing to go to any lengths to usher in this new age of globalized commerce, having urged its banks to open their coffers to projects that would usually not be deemed ‘sound’ because of the instability of the host countries.
“current and future generations to propel Chinese and global economic growth”
Infrastructure funding is a growing need in the world as a whole, and China has stepped in to fill this gap with strategically placed projects. As growth slows in its own infrastructure areas China has stepped out to grow further in the rest of the world.
Working together with other countries China’s president Mr Xi hopes to “involve the current and future generations to propel Chinese and global economic growth” (Cao Wenlian).
Mr Xi has invited numerous world leaders to celebrate and discuss “One Belt, One Road” at a meeting in Beijing. Among the attendees will be Vladimir V. Putin of Russia and Matthew Pottinger of the United States Security Council. No doubt all the world’s leaders will be eager to learn more about China’s plans.