The Belt and Road: Improving Education, Welfare and Growth of Member Countries

Abstract

The Silk Road Economic Belt routes covers more than 60 countries and regions accounting for 30 per cent of Global GDP and world's merchandise up to 35 per cent. By 2050, SREB routes aims to contribute 80 per cent of Global GDP growth and will advances three billion more people into middle class from Asia to Europe via Southeast Asia, Central Asia, West Asia and the Middle East. Asian countries vary in size and complexity having more than sixty per cent consumers of the world market but are not integrated yet, while European Union is extremely integrated market with more than 500 million consumers. Basic idea behind the research is that whether EU trading bloc has improved the performance of member countries or not (regarding education, welfare & growth)? Findings shows that the EU have improved the performance of member countries and all they are moving in same like situation of band. On the other hand, Asian countries are behaving in some irrespective manner. Now, it is suggestion for Asian countries to make trading and economic blocs for improved performance of member countries and better wellbeing of the people in near future and SREB will plays a main role.

Asymmetric effect of educational expenditure, knowledge spillover, and energy consumption on sustainable development: Nuts and Bolts for policy empirics

“…On the other hand, labor productivity is also related to education when there are more educated and skilled laborers their productivity increase and hence boost economic growth. Education has also supported technological innovation as well as economic progress [ 35 ], which has aided in the discovery of renewable energy sources employed in the manufacturing process. The use of these sustainable kinds of energy contributes to the preservation of the environmental quality.…”

“…According to the findings of this research, increasing educational expenditures improve the environmental quality while lowering educational expenditure worsens environmental sustainability. Education also contributed to technological innovation besides improving economic growth [ 35 ], which later help to find the efficient sources of energy that are being utilized in the production process. The use of these efficient energy sources contributes to lower degradation of environmental quality.…”

“…Education boosts efficiency, which benefits the economy. Education helps with technical advancements, which aid in the identification of efficient energy sources utilized throughout the manufacturing process, in addition to enhancing the country's economic prosperity [ 35 ]. The use of efficient energy sources aids in the reduction of carbon emissions within the environment.…”