Most people have heard about the Silk Roads. This was a large network of trade routes which for hundreds of years connected the West of Europe with the East of Asia. The trade routes connected China with the Mediterranean and Africa and all the countries and regions between.
For hundreds of years, the Silk Roads were the routes by which silk, spices, precious metals, gems, exotic animals, and other goods were traded. As well as these goods, religions, philosophies, technologies – and diseases – also moved along the Silk Roads. Peter Frankopan’s book “The Silk Roads” provides a detailed history and explains why these routes were important to both Europe and Asia.
The Silk Roads promoted cultural exchange and were important in the spread of innovations such as paper, gunpowder, the compass, and various other new ideas, religions, and technologies. Important for centuries, the Silk Roads only declined with the increase in maritime trade and other geopolitical movements which led to changes in international trade. A significant part of this change was colonialism.
The Belt and Road Initiative (BRI) is an attempt by China to make another significant change to trading relations between Europe, the Middle East, Asia, and Africa. It is an enormous project and is changing intergovernmental relations across the globe.
The Belt and Road Initiative was initially unveiled in a speech by President Xi in September 2013. It is made up of two components: the Silk Road Economic Belt and the 21st Century Maritime Silk Road. The Economic Belt aims to expand land routes for people and commerce across Europe, the Middle East, and Asia. The Maritime Road component seeks to expand sea routes between Europe, Africa, South Asia, and the Middle East.
It is intended to cover most aspects of human interaction. In a speech marking the tenth anniversary of the project, President Xi said that the Belt and Road Initiative covers “the land, the ocean, the sky, and the internet” and boasted that the network had “boosted the flow of goods, capital, technologies, and human resources among countries involved.”
The Belt and Road Initiative is certainly an enormous undertaking. In the first ten years, significant projects have been carried out in Asia, Africa, Europe, and even South America. These projects include upgrading trade-related infrastructure such as ports, roads, railways, and pipelines, but it also includes the development of internet connectivity and other technology activities.
One of the largest projects is the development of the China-Pakistan Economic Corridor, in itself a reminder of the old Silk Roads which connected the two regions. This project has involved the construction of airports, railways, highways, and pipelines.
Other projects include the Kenya Standard Gauge Railway, Colombo Port City in Sri Lanka, Gwadar Port in Pakistan, and the Ethiopia-Djibouti Railway. All of these major projects are designed to promote trade and stimulate the economies of the countries in which they are happening.
There has been some criticism of the Belt and Road Initiative over sustainability and environmental issues, but that is being addressed. In 2018, a document called Green Investment Principles for the BRI was published. This included input from the City of London’s Green Finance Initiative, as well as the World Economic Forum and several other global organizations.
Spending on the Belt and Road Initiative has currently reached over $1 trillion. This is an enormous investment by China, which plans to recoup this through various debt repayment plans. The BRI has made China the world’s largest debt collector.
Inevitably, this has led to one of the major criticisms of the Belt and Road Initiative. Countries are becoming obligated to China through their debt, and this will influence the international policies of these countries. This obligation has become known in some quarters as Debt Trap Diplomacy.
The USA and some Western countries are severely critical of this influence being developed by China in countries across the globe. This is despite the fact that American investment never came without obligations and the fact that China has been eager to invest in projects across the globe at a time when the USA and the West have sought to limit their worldwide investments.
Some observers view the Belt and Road Initiative as a tool for advancing China’s strategic interests, including expanding its geopolitical influence and securing access to key resources and markets. They argue that this could undermine Western-led institutions and values and lead to increased competition. This is ironic considering the argument for the West by these same people is that its capitalist ethos of competition is supposedly the foundation of healthy economies.
Other criticisms of the Belt and Road Initiative include a lack of transparency, lack of benefits for locals, and disregard for human rights, some of which may be applied to some projects carried out in some countries by some regimes. It would be interesting if these same people were as forthright in their condemnation of colonialism.
Instead, books being published like “The Case for Colonialism” by Bruce Gilley defend a historical process where in most cases the resources of countries were taken, historical societies destroyed, and local cultures displaced in order to provide wealth to the colonizer.
The Belt and Road Initiative is one of the largest investment projects ever undertaken internationally. Currently, there are over 200 major projects being carried out in more than 150 countries. It certainly places China at the forefront of global development.
No doubt there are some valid criticisms, and the debt to China being built up by some nations is certainly one worrying aspect of this initiative. However, the alternative being offered by the West is pitifully weak and largely consists of military support in situations where economic joint development might have been more productive and positive.
