Explanation with Examples
The initial results of the OBOR show a high potential for changing the regional connectivity as well as drive economic change across several continents. One such project is the China-Pakistan Economic Corridor , which is one of the flagships of OBOR. As part of the effort, China is building highways, railways, and massive power infrastructure that is meant to connect the western Chinese region to Pakistani Gwadar port . Such initiative forms a convenient trade route between China and Pakistan and acts as an access point for China into the markets of the Middle East and Africa.
Additionally, the port of Piraeus in Greece was build as part of the OBOR initiative ho illustrate OBOR’s part in the maritime trade.This strategic investment has transformed Piraeus into one of the largest ports in the Mediterranean, facilitating trade between China and Europe while boosting Greece’s economy and creating jobs.
One Belt One Road – Belt and Road Initiative (Silk Road Reborn)
The One Belt One Road (OBOR), rebranded the Belt and Road Initiative, is arguably one of the most ambitious and extensive multilateral initiatives since World War II. Launched by China’s President Xi Jinping in 2013, the OBOR initiative was designed to rejuvenate and popularize the trade routes of the ancient Silk Road while catalyzing economic cooperation between Asia, Europe, and Africa.
Unlike the ancient trade route, the OBOR initiative comprises at least two main parts: the Silk Road Economic Belt and the 21st Century Maritime Silk Road. Furthermore, beyond infrastructure development, trade agreements, and cultural exchange, the “project” seemingly envisions enhancing connections, promoting prosperity, and empowering diplomacy among participating nations.