Abstract
International Journal of Advance Research in Multidisciplinary, 2024;2(4):38-43
The Belt and Road Initiative: Catalyzing A New Era in Global Trade
Author : Shahadat Hossain
Abstract
The Belt and Road Initiative (BRI), launched by China in 2013, is a transformative global development project aiming to connect over 140 countries across Asia, Europe, and Africa through an expansive network of infrastructure. This ambitious undertaking seeks to revive the ancient Silk Road, promoting trade, economic growth, and cultural exchange while fostering geopolitical cooperation. This article explores the BRI’s impact on global trade, particularly its effects on Asia, Europe, and Africa, emphasizing the economic, social, and environmental challenges and opportunities it presents. It also examines the initiative’s future trajectory, with a focus on green development, digital infrastructure, and shifting geopolitical dynamics. While the BRI offers substantial economic benefits, including improved infrastructure, trade growth, and foreign direct investment, it also raises concerns regarding debt sustainability, environmental impact, and China's increasing geopolitical influence.
Keywords
Belt and road initiative, China, global trade, infrastructure development, silk road, economic growth, digital silk road, foreign direct investment, trade routes, debt sustainability, geopolitical influence, environmental impact, regional integration, cultural exchange, Asia, Europe, Africa
