Discuss potential political and economic consequences of China One Belt, One Road policy

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Discuss potential political and economic consequences of China’s One Belt, One Road policy

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China’s One Belt, One Road Policy1
POLITICAL AND ECONOMIC CONSEQUENCES OF CHINA’S ONE BELT, ONE ROAD
POLICY

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China’s One Belt, One Road Policy2
Introduction
China’s One Belt, One Road policy is a form of developmental strategy implemented by
president Xi Jinping . the main idea of this strategy was to provide effective connectivity and
cooperation among Eurasian nations. The strategy aimed at uniting the following groups: The
entire Republic of China (PRC), the land-based Silk-Road Economic-Belt (SREB) as well as the
Maritime Silk Road (MSR). The strategy was to enable China to get involved in more global affairs
with other trading nations. Furthermore, the strategy was agreed on between September and
October 2013 for both SREB and MSR. The above collaborative strategy was promoted by
Premier-Li Keqiang in his state visit to Europe and Asia and Europe (Ehteshami & Horesh, n.d.).
Initially, the strategy was being referred to as One Belt and One Road. During mid-2016
the strategy was given an English name as the Belt and Road Initiative. This happened as a result
of misinterpretations of the word one. For the last three years, the strategy has been focusing on
construction materials, infrastructure investment, railway and highway, real estate, automobile,
power grid, and iron and steel products (Ehteshami & Horesh, n.d.). According to China’s state
information, One Belt, One Road policy was a form of collection of interlinking trade ideas and
infrastructure projects within Eurasia and the Pacific. In this context, I will be highlighting various
potential political and economic consequences which have been associated with China’s One Belt,
One-Road policy.
Economic consequences of China’s One Belt, One Road policy
Economic benefits
Through the initiative One Belt, One Road policy, China will record an increase in trade.
The nation will have constructed standard roads and ports to facilitate trade with the member states.
As per the current situation, One Belt, One Road policy covers more than 68 nations which
constitute of approximately 4.4 billion. As a result, China has been able to attain up to 40% of the
global-GDP. Through trading with member states, China has achieved a massive economic
promise. Studies indicate that this project will end up benefiting the whole world.
Economically, employment rates have lowered in China. Though China has the largest
population in the world, its employment rates are less than 0.25% (Lim, n.d.). OBOR initiative has
created enough jobs for citizens in all member states. Moreover, the initiative has well wages for
its employees. Additionally, some of other nations relies on this initiative for their earnings. In

China’s One Belt, One Road Policy3
case the initiative was not put in place, this could have resulted to poor economic performance of
nations such as Asia.
The future of trade in Asia depends on implementation of the OBOR Initiative. As
presented in the history, OBOR is classified as the most massive investment in terms of trade
development in China. Through trading with member nations, economy of China has matured for
more than 45%. Trading operations have been used to serve as a source of foreign currency
enabling China to balance its payments (Lim, n.d.). Additionally, China uses trade funds gained
from member nations in financing its essential imports (Lim, n.d.).
Through the OBOR, the government of China is expected to see a great development in its
six major economic-corridors. Note that, through building transport and informationinfrastructure, China will end up improving its economy. Energy will be available and affordable
for use. Through use of cheaply available energy, China will be able to attain more production
units from its companies (Simpson, 2015). Furthermore, China’s OBOR project wil...


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