Published on May 31, 2017
Recently China hosted “One Belt One Road” forum which was attended by heads of around 100 countries including the heads of African nations, South Asian countries, Russia and Europe. There were higher ranked dignitaries as well which includes the president of the World Bank and the managing director of the IMF. In this entire summit India distanced itself and decided not to participate in OBOR policy.
The idea of this policy this is to rebuild the old marine and overland trading route, popularly known as silk route in ancient time. Building this regime would require more than 100 billion dollar of investment from Chinese banks. The motive behind this huge project is China wants itself to be globally recognized economic leader. It wants its presence in every corner of the world. But developing connectivity on this path will be a colossal job.
They have to build good infrastructure so building out various rail lines, freight lines, ports, dry ports, et cetera - this is something where you know China has to take the lead. China wants to have big leap in the petrochemical and world economic forum. Success of this strategy will clearly have geopolitical benefits for China.
To be brief OBOR is China’s great development strategy. But this path is definitely not smooth as being anticipated. Cultural, political apprehensions are the foremost challenges in this program.
