What does "One Belt And One Road" Mean and What is Its Strategic Significance

In recent years, we often hear the word "One Belt And One Road" in the news. Many people are puzzled about this. What does One Belt And One Road mean? How significant is the "One Belt And One Road" strategy for China? One Belt And One Road not only benefits one country and one people, but also make use of the 'China Standards' to organically combine more markets and more resources to achieve win-win operation and development.

"One Belt And One Road" (B&R) is The abbreviation of "The silk Road economic Belt" and "The 21st century maritime silk Road". In September and October 2013, Chinese President xi jinping proposed The cooperation initiative of building "The new silk Road economic Belt" and "The 21st century maritime silk Road" respectively.

It will fully rely on China and relevant countries existing multilateral mechanisms, with the help of the existing and effective regional cooperation platform, One Belt And One Road aims to use the history of the ancient silk road signs, exalted banner of peaceful development, actively develop along with the country's economic partnership, to create mutual political trust, economic integration, culture include the interests of the community, fate community and community responsibility.

In history, the land silk road and the maritime silk road were the major channels of economic, trade and cultural exchanges between China and central Asia, southeast Asia, South Asia, west Asia, East Africa and Europe. "One Belt And One Road" is the inheritance and improvement of the ancient silk road, which has been widely recognized.

The strategic significance of One Belt And One Road

1. Exploring the way of economic growth: "One Belt And One Road" is a major innovation of China, as the locomotive of world economic growth in the post-financial crisis era, to transform its advantages in production capacity, technology and capital, experience and mode into advantages in market and cooperation and implement all-round opening. We will share the dividends of China's reform and development and the experience and lessons of China's development through the "One Belt And One Road" program. China will work hard to promote cooperation and dialogue among countries along the belt and road, establish a new type of global development partnership featuring greater equality and balance, and consolidate the foundation for long-term and stable development of the world economy.

2. Realize the rebalancing of globalization: traditional globalization starts from the sea and is born from the sea. Coastal areas and maritime countries develop first, while land countries and inland countries lag behind, forming a huge gap between the rich and the poor. Traditional globalization, initiated by Europe and carried forward by the United States, has formed the "western-centered theory" of the international order, resulting in a series of unbalanced and unreasonable effects, such as the subordination of the east to the west, the countryside to the city, and the land to the sea. Now "One Belt And One Road" is driving global rebalancing.

"One Belt And One Road" encourages the opening to the west, drives the development of the west and the development of landlocked countries and regions such as central Asia and Mongolia, and promotes the concept of inclusive development of globalization in the international community. At the same time, "One Belt And One Road" is China's initiative to promote China's high-quality production capacity and comparative advantage industries to the west, which will benefit the countries along the route and along the coast in the first place. It also changes the appearance of the belt along the silk road in history, such as central Asia, which is only a corridor for east-west trade and cultural exchanges and thus becomes a "depression" for development.

3. Creating a new type of regional cooperation: China's reform and opening up is the biggest innovation in the world today. As a comprehensive opening strategy, "One Belt And One Road" is innovating economic development theory, regional cooperation theory and globalization theory with the theories of economic corridor, economic belt and international cooperation in the 21st century. "One Belt And One Road" emphasizes the principle of consultation, joint contribution and sharing, which goes beyond the Marshall plan, foreign aid and the strategy of going global, and brings new ideas to international cooperation in the 21st century.

On March 28, 2015, the national development and reform commission, the ministry of foreign affairs and the ministry of commerce jointly issued the vision and action for jointly building the silk road economic belt and the 21st century maritime silk road.

After the opening of the "One Belt And One Road" economic zone, the number of contracted projects exceeded 3,000. In 2015, Chinese enterprises made direct investment in 49 countries related to "One Belt And One Road", with an increase of 18.2% year-on-year. In 2015, China received 17.83 billion us dollars in service outsourcing contracts from countries related to "One Belt And One Road" and 12.15 billion us dollars in execution, up by 42.6% and 23.45% respectively.

On January 25, 2018, data released by the ministry of commerce showed that "One Belt And One Road" economic and trade cooperation has achieved remarkable results. In 2017, China's trade volume with countries along the belt and road reached 7.4 trillion yuan, up 17.8% year-on-year.