Asia

China’s Belt and Road initiative

Why have many outside China failed to see the potential and opportunities offered by this new economic push?

An initiative is emerging from the depths of Asia that will transform economic growth, construction, investment and trade. Not just in China – which is the initiative’s ground zero – but right through Asia and into Europe.

Along the way, it is creating vibrant new business hubs and with them, jobs. As a result, people are on the move, chasing the employment opportunities and looking for new places to live. Companies are expanding and so too is demand for office space, alongside retail opportunities and fresh demand for entertainment and leisure facilities.

So why then have many outside China failed to see the potential and the opportunities being offered by this new economic push: the Belt and Road Initiative?

Launched by China’s president Xi Jinping in 2013, the initiative will see a cumulative investment of between $4tn (£3tn) and $8tn into projects and businesses along two global routes – the old maritime routes (the Belt of the project), and a 21st century Silk Road (the Road).

These include six corridors: the New Eurasian Land Bridge, which will run from western China to western Russia; the China-Mongolia-Russia corridor; the China-Central Asia-West Asia corridor, running…

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