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China is constructing a modern Silk Road trading route

31/07/2017
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The ancient Silk Road trading route is set to be revived thanks to the Belt and Road initiative, a $900 billion global-scale infrastructure project which aims to expand China’s reach across Asia, Europe, the Middle East and Africa.
China's Belt and Road initiative will connect Europe, Africa and Asia across both land and sea
Belt and Road refers to two separate elements of the project; the land-based ‘Silk Road Economic Belt’ and the seagoing ‘21st Century Maritime Silk Road’. The routes will cover more than 60 countries and regions from Asia to Europe via Southeast Asia, South Asia, Central Asia, West Asia and the Middle East, accounting for some 30 per cent of global GDP and more than 35 per cent of the world’s merchandise trade.

By 2050, the Belt and Road region aims to contribute 80 per cent of global GDP growth, and advance three billion more people into the middle class.



The project comes at a time when significant stagnation in the flow of commerce and the rise of economic protectionism in many regions is causing threats to the economic prosperity of China.

By improving and increasing the global flow of capital, goods and services China’s leaders hope to maintain (and grow) their base of international customers that have made the country the biggest manufacturer of merchandise in the world.

The project itself describes the initiative, and the benefits it will bring, in the following terms:

“The initiative offers global businesses- from multinationals to small and medium sized enterprises- unparalleled opportunities to tap into new markets along the Belt and Road and gain deeper access to markets in the Chinese mainland, ASEAN, the Middle East and Central and Eastern Europe. For developing and emerging economies in these areas, investment and trade will accelerate development for the benefit of all.”

It is expected that the Belt and Road initiative will make a major contribution to the global infrastructure and construction industry as it will require the construction of new railways, highways, airports, telecommunications networks and facilities, oil and natural gas pipelines and ports. Once this infrastructure has been completed, Europe, Africa and Asia will be better connected than at any other time in history.

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China is constructing a modern Silk Road trading route - Time to read 2 min
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