China plans to expand the “One Belt – One Road” project further. At the same time, Chinese President Xi Jinping was able to convene an urgent conference. Government leaders and representatives from nearly 140 countries participated in it. It shows that the world’s countries have accepted this effort of China. The “One Belt – One Road” project aims to establish two trade routes connecting the rest of the world. Heads of state representing nearly 140 countries, including Russian President Vladimir Putin, participated.
One hundred forty countries – trillions of dollars.
This project is worth trillions of dollars. It also shows China’s financial strength. This project can also be termed a minor operation that frightens Western countries. Political analysts say the “One Belt – One Road” project is not a one-time concept. It is a project based on a global political context created in the 1980s. There are many expectations in this, such as getting value for surplus production in their country, overcoming the challenge of maintaining a large population, acquiring global political power, and breaking the hegemony of the West.
Xi’s goal
Xi Jinping’s leadership has been able to expand further the “One Belt – One Road” project and more effectively achieve the objectives of the project. Although the initial phase of the project was limited to infrastructure development, it has been seen that later, it focused on technology, digital development and security. Indonesia, Pakistan, Singapore, Russia, Saudi Arabia, Malaysia, United Arab Emirates, Bangladesh, Peru, Laos, Italy, Nigeria, Iraq, Argentina, Sri Lanka and Chile have benefited from this project. The total number of projects implemented worldwide, including those countries under the “One Belt – One Road” project, exceeds 3000.
Meanwhile, an important point that international analysts have pointed out is that this primarily aims to create a global governance model centred on China. By making the majority of the world’s countries loyal parties to its flow, contemporary China’s main project to acquire world hegemony is the “One Belt – One Road Project”, according to some analysts.
Is it a strategy for power?
Jeremy Chan, an East Asia expert of the Eurasia Group, has stated that the “One Belt – One Road” project can be introduced as a strategy to protect its independence from Western influences. It is a strategic approach. Saudi Arabia and the United Arab Emirates can be said to be the countries that will experience the most benefits of the “One Belt – One Road” project. Wan points out that through such operations, China has managed to create a situation where it can fearlessly face and fight against the risks that may arise from Western policies such as American sanctions.
Unsuccessful places.
Although the projects implemented in various countries under the “One Belt – One Road” project have been successful, the projects launched in other countries have failed. Failure has increased more than success, and failure has been caused by failed plans, loan granting to projects that are not commercially viable, and lack of proper supervision. The global economic recession has also caused debt defaults, and in this situation, China is also in some difficulty in not being able to recover billions of dollars in debt.
The projects implemented in Pakistan are the best example. Although the people of Pakistan speculated that they would get unique benefits from Chinese projects, it has turned out to be a myth. Accordingly, now Pakistan has to take loans from institutions like the International Monetary Fund to pay off the debt and run the country.
Meanwhile, the Hambantota port project implemented in Sri Lanka is another example. The Sri Lankan government has also had to hand over the project to China for 99 years as it cannot pay the loan taken for the project. Other countries, such as Kenya and Ethiopia, are economically helpless in the face of Chinese projects. International reports indicate that around 60% of the total debt has been crippled, and those countries are helpless, unable to move forward.
Attention should also be paid to the successful projects implemented by the “One Belt – One Road” project. Accordingly, the Bandung high-speed railway operated in Indonesia can be identified. Due to the ability to travel at a speed of 350 kilometres per hour, the project has made it possible to reduce the travel time from Jakarta to Bandung by about 03 hours.
However, China plans to expand the “One Belt – One Road” project with new concepts. It is also clear that Xi Jing Pin’s leadership is working to implement the program by fully understanding the existing and existing weaknesses. Because of the comments made at the recently concluded “One Belt – One Road” conference during the visit, the Chinese President revealed facts about several new roads.
Peace, mutual support and friendship – “Xi” addresses world leaders.
He emphasised that the way forward should be based on peace, mutual support and friendship. The Chinese President said that the modern form of the past Silk Road is very different, and this will benefit not only one country but many countries.
He emphasised that instead of going against each other and suppressing the other, it is the need of the age for everyone to join hands and rise with the support of each other. The Chinese President said that helping others is suitable for himself and pointed out that the world has achieved many remarkable achievements in the last ten years through the “One Belt – One Road” program.
Assumptions have been made so far that the “One Belt – One Road” project will be able to achieve the changed conditions and optimistic conditions in global politics. Will China be able to handle the Eastern states properly, trying to align with the West or surpass the West? This is a matter under discussion in the world community. Furthermore, instead of the “one belt – one road” project, what kind of creative conditions will be presented in the West? In all this, the world will move forward.
