by Ángel Armando Sánchez Dueñas
President of Federación de Periodistas del Perú, Perú
The Belt and Road Initiative, also known as the New Silk Road, is an ambitious infrastructure and development project promoted by China. The initiative aims to establish a network of trade routes connecting China with Central Asia, Europe, Africa and South America. The project covers the construction of railways, roads, ports, pipelines and other infrastructure, as well as the promotion of trade, investment and cultural cooperation.
Motivations behind the initiative
China’s motivations for embarking on the New Silk Road are complex and multifaceted. Some of the main factors include:
Strengthen the Chinese economy: The initiative seeks to open new markets for Chinese exports and diversify the country’s sources of energy and raw materials. China needs to ensure access to energy resources and raw materials to maintain its rapid economic growth.
Promote regional development: China hopes that the New Silk Road will boost the economic development of participating countries, especially in less developed regions. This would create new markets for Chinese exports and help ensure regional stability.
Increase China’s global influence: The initiative is seen by some as a way for China to extend its influence in the world and counter American hegemony. The New Silk Road could allow China to establish new strategic alliances and increase its soft power.
Potential impact of the New Silk Road
The New Silk Road has the potential to transform the global economic and geopolitical landscape. Some of the possible impacts include:
Increased trade and investment: The initiative could lead to a significant increase in trade and investment between China and participating countries. This could lead to widespread economic growth and the creation of new jobs.
Improved connectivity: The New Silk Road could improve connectivity between regions and facilitate the transportation of people and goods. This could reduce business costs and increase economic efficiency.
New challenges: The initiative could also generate new challenges, such as excessive indebtedness of participating countries and the negative environmental impact of large-scale infrastructure construction.
Outlook for the future
Despite the challenges, the New Silk Road is a project that is advancing rapidly. China has already invested billions of dollars in infrastructure projects in participating countries. The initiative has also generated great interest among companies and investors around the world.
It is too early to say what the final impact of the New Silk Road will be. However, it is clear that the initiative will have a significant impact on the global economy and geopolitical relations in the coming years.
*The views and opinions expressed in the articles are solely those of the individual authors and do not reflect the position of the Secretariat of the Belt and Road Journalist Network.