Silk Road Economic Belt - An Initiative By China

Silk Road since history has been a trade route connecting Europe and Asia. For this reason alone apart from others, this road had a significant role in history for longest time. Britain and Russia were two major power once trying to gain control over this region. In modern time also this region has no less significance at all. China being one of major power centre in Asia has lot of strategic interest and assertion on Central Asia region. In fact Silk Road Economic Belt which is land based component is a Chinese government economic development framework for primarily integrating trade and investment in Eurasia. Silk Road economic belt is not just limited to land but it also consists of oceangoing 'Maritime Silk Road'. This Silk Road economic belt strategy is China's push to gain a bigger role in global business affair and also securing exports for its products in European countries through this route.

This idea of China has caught the imagination of the world. Centuries ago brave and diligent people had discovered and opened several routes for trade and cultural exchange linking Asia and Europe which was collectively called Silk Road. The design of the belt consists of several nodes, corridors and other elements. One of the earliest nodes to take shape was the New Eurasian Land Bridge, a railway that connects China to Central Europe through Kazakhstan and Eastern Europe. China intends to build a greater cooperation across Asia and Europe. Chinese President Xi Jinping unveiled in September 2013 where he revealed Silk Road Economic Belt and Maritime Silk Road. Though the belt primarily covers Asia and Europe but Oceania is also included along with East Africa. Since his visit to Central Asia and South East Asia in 2013 he has raised the initiative of building Silk Road Economic Belt and Maritime Silk Road jointly. Like in old days the route even today is intended to grow trade, cultural exchanges and building enabling infrastructure. Apart from the old route that was analogous to Silk Road the extended region to this belt are South Asia and South East Asia. North, central and south belts are proposed. North belt goes through Central Asia, Russia to Europe. Central belt goes through Central Asia, West Asia to the Persian Gulf and the Mediterranean. South belt starts from China to Southeast Asia, South Asia, the Indian Ocean. Central belt is spoken down due to complex religion problems and separation movement along the belt. It could be even taken advantage by extremists.

China in order to gain supremacy in this region and in an attempt to reach out to Europe and Africa intends to invest heavily to build sustainable infrastructure in this belt. Maritime Silk Road also known as 21st century Maritime Silk Road is a complementary initiative aimed at investing and fostering collaboration in Southeast Asia, Oceania, and North Africa, through several contiguous bodies of water – the South China Sea, the South Pacific Ocean, and the wider Indian Ocean area. Asian Infrastructure Investment Bank was proposed by china in 2013 only to fund infrastructure projects in this belt and funding into this bank will come from Asian and Oceanic countries. China will hold 26% of voting rights and will be single largest stakeholder in this bank.It is not hidden that China is competing directly with US. So this highly ambitious Silk Road Economic Belt is result of that objective. How far will it go and how successful will it be is yet to be seen as it involves quite complications among countries involved in this proposed belt. Central Asia as has always been a region of strategic interest for its geographical region is once again sitting in the centre of this belt. The world has an eye on it, so what unfolds in future is yet to be seen.Also Read

Sanghai-cooperation-organisation-a-growing-organisation-in-Eurasia