What is the One Belt One Road initiative?

CCTV News

The Silk Road is the oldest overland trade route in the world, dating back to 5oo B.C. Chinese President Xi Jinping is bringing it to the 20th century in the form of the One Belt One Road Initiative which will begin in Xi’an, China. So what is this initiative and what are its benefits?

What is the One Belt One Road initiative?

What is the One Belt One Road initiative?

The Silk Road is the oldest overland trade route in the world, dating back to 5oo B.C. Chinese President Xi Jinping is bringing it to the 20th century in the form of the One Belt One Road Initiative. So what is this initiative and how what are its benefits?

It’s the oldest overland trade route in the world, a network dating back to the fifth century B.C. It stretches from China through Central Asia to Europe’s borders.

The Silk Road transported everything from spices to gunpowder and of course, silk – between East and West.

Now China’s President Xi Jinping is bringing it into the 21st century under the name: ‘One Belt One Road.’

Bye, bye camels, Hello trains capable of transporting Chinese-made goods, like laptops, 12,000 kilometers to Germany. Faster than shipping by sea.

But maritime trade is also a big part of the ‘One Belt One Road’ linking key ports in Asia, Europe and Africa.

While the maritime route already hosts much of the world’s cargo, its overland counterpart passes through some of the world’s most remote regions.

So, the challenge for China and its partners is to create the infrastructure to support this 21st century superhighway, while reducing prohibitive import and export tariffs so East and West can do more business with each other.