On May 14, Beijing launched the new One Belt One Road initiative, more commonly known as the New Silk Road Project.
Under the project, China is expected to invest up to US$1.3 trillion in infrastructure projects which will connect China to Europe via both land-based as well as maritime transportation and communication networks.
The plan is to build a vast network of new trade routes across the globe, multiple high-speed rail networks to Europe, shipping and logistics ports across Asia and Africa and a series of free-trade zones.
Questions remain around China’s deeper intentions behind the initiative, but the large infrastructure investment will strongly kick start economies and areas that badly need it.
Image: The current Korakaram Highway linking China to Pakistan, featuring its main local users. By Muhammad Waqas Azfar / CC-BY-SA 3.0
This story is taken from the 19 May 2017 edition of The Warren Centre’s Prototype newsletter. Sign up for the Prototype here.