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Belt & Road can boost global prosperity

Editor: Qian Ding 丨CCTV.com

04-07-2017 15:28 BJT

By Christina Kitova, CEO and founder of Carticulus Media, based in Markham, Ontario, Canada 

The Belt and Road Initiative is a transformational geopolitical and geo-economical project that benefits Africa and Eurasia, which would usher in multi-dimensional partnerships for all participating nations.

Since the eruption of the financial crisis in 2008, China has asserted a strong position as the world's second largest economy, leading the global economic recovery.

China's President Xi Jinping has restructured the domestic economy by encouraging more innovation and R&D (research and development) and introducing ground-breaking initiatives.

The Belt and Road Initiative can make it easier to conduct more financial transactions between the East and West. Moreover there would be big-time opportunities to create a web of communications to enhance cross-border trade with the biggest Eurasian Markets.

There's higher demand for Chinese investments and credit to fund major infrastructure in neighboring nations' territories, such as a Eurasian grid that can boost sub partnerships between Russia, Azerbaijan and Iran to provide transport corridors that could extend to India.

Strategic partnerships with India, Iran, Vietnam, Egypt, and South Korea will allow for a more balanced Eurasian trade system.

United States President Donald Trump will focus on creating a more dynamic domestic manufacturing sector that brings production lines and jobs back to the country.

China's timing to expand Eurasian trade has arrived at a perfect time, including establishment of the AIIB (Asian Infrastructure Investment Bank) as an additional funding instrument for B&R projects. Accordingly over 100 nations have shown an interest in participating, which has already created over 77,000 jobs worldwide last year.

The 21st Maritime Silk Road would expand maritime channels in the South China Sea that go through the Indian Ocean, Red Sea with a final destination, Venice.

The B&R would reroute exports of goods and capital to nations outside traditional global trade corridors, which include countries in Africa and Central Asia.

Additionally, China's investments can help smaller nations overcome economic challenges. Beijing could protect Chinese investments abroad and use B&R corridors to combat terrorism.

Beijing believes its prosperity can support the economic expansion of border nations via trade, while African nations can prosper as well.

China intends to construct a new hi-speed railroad line that can travel from Moscow to China's border within 2 days.

Meanwhile, China and Russia can secure projects that could prevent terrorist attacks and criminal activities, although transportation hubs struggle with higher crime rates.

Beijing remains confident the government can protect its citizens through the strong leadership of President Xi Jinping who is working on multiple strategies with adjoining nations to alleviate security risks and implementing proper security measures.

The initiative will reshape the geo-economic mosaic of the global arena, bringing prosperity to Africa and elsewhere that would strengthen trade ties with Russia and other countries in the B&R sphere.

 Christina Kitova, CEO and founder of Carticulus Media, based in Markham, Ontario, Canada 

(The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com)

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

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