Influence of Belt & Road on consensual Trade with Path to Structural Trade Model

Abstract

Xi Jinping, the president of China, announced Belt and Road project. A large geographic area of the world, encompassing America, Asia, and Africa, was to be developed economically and through increased bilateral trade. BRI covers 64 per cent of the global population and 30 per cent of the international GDP. Analyses consequences of Belt and Road Initiative-driven changes to marine networks on bilateral trade movements (BRI). The gravity model approach was applied for results to study the significance of China through "Belt and Road project" (BRI) trade through various quantitative techniques, including (POLS), (FE), and applied to look at the hypothesized impact of bilateral trade of one Country with other countries. To study the importance of BRI on the two-way trade of China with 29 trading partners, panel data from 20 years (2000-2019) of data were obtained. China has a very good impact on international trade, and its GDP per capita is shown to be highly positive. The relationship between the two is very significant and positive, as indicated. Results indicate that as trade partners' countries' populations have grown, their economies have also grown.