Belt and Road Initiative (BRI) of China: Connecting the World for Sustainable Economic Development

Abstract

The aim of this article is to assess the effect of strategies of Belt and Road Initiative (BRI) on sustainable economic development of member countries. This study is based on qualitative approach and secondary data. A number of documents such as journal articles, government reports, books, book chapters and working papers have been consulted to substantiate the arguments. The article explores that there is a potential effect of BRI on the sustainable economic development of its member countries. Some of the member countries are getting direct benefits from it and other countries are in the way of getting benefits through infrastructure development, trading, cultural exchanges and mutual political agreements. It is empowering a number of developing countries through economic development by linking economic corridors, seaport, roads and railway networks. This article also finds that so many economic zones are planned to open in member countries to get benefits from BRI initiative by promoting infrastructure, energy, gas, oil and electricity, roads, railways and other related projects.

(r, Q) Inventory Management in Complex Distribution Systems of the One Belt One Road Initiative

“…He noted both its importance for the Middle Kingdom's international position as well as emphasised economic desirability for the less developed countries that would experience rapid growth of their industries. Rasel et al (2020) performed a literature review, covering 97 papers, addressing the OBOR initiative from various perspectives. The review concluded the study with the message that each member country should devote all available political and economic resources to support this initiative as despite direct profits all the members would gain diverse benefits for the infrastructure development, trading, bilateral agreements, etc.…”

China’s Hunt for Fuel Through Bri in the Middle East

“…Asia will be going to emerge as the centre of intra-regional economies under the dynamics of the evolving worldwide commercial and trading order, whereas countries of the Middle Eastern region have become a significant source of fuel (Rasel et al, 2020). The area of the Persian Gulf remains the oil industry's "economic centre of gravity," encompassing the largest oilfields of the world, the lowest production rates, and about two-thirds of the proven global reserves of energy (Manochehr & James, 2013).…”

“…The era of Mao Zedong has been considered significant during which the foundations of China's growing energy consumption were laid, and the oil industry of China was shaped (Sharma, 2019). With the continuation of China and the Middle East deepening relations concerning energy supplies, efforts for extension and strengthening diplomatic links with the Middle East countries were also made in the past (Rasel et al, 2020). Mao was passionate about developing the country's oil resources to become self-sufficient (Michal, 2016).…”

“…The security of the smooth supplies of oil is a crucial concern regarding Sino-Middle East relations to the extent that China has already made efforts to be hedged against the probable impacts of any disruption of energy supplies (John, 2014). Beijing concentrates on the acquisition of energy supplies due to the unprecedented economic expansion of the country, on accounts of which it needs reliable resources of natural gas and oil to cope with the critical needs of energy (Rasel et al, 2020). The region of the Middle East has turned out to be a viable source of oil for China for securing needs of energy supplies.…”