Introduction :-
- Chinese president Xi Jinping had launched.
- Bell and Road initiative (BRI) in 2023 to invest in more than 150 countries.
- As of january 2023, 151 countries listed as signed up in BRI.
Purpose–
Promote economic development and inter regional connectivity.
Two components of BRI :-
- Silk road economic belt
- Maritime Silk road
- Xixamping announced both components during official visit to kazakhistan and Indonesia in September 2013.
- Initially It was called one belt, one road (OBOR) but renamed – BRI.
- Examples – Railways, energy pipelines, ports, BRI investment sky scrapers, railroad, road, bridges, airport, dams, coalfired power station and railroad tunnels.
Vision –
- Railways , energy pipelins, Highways, streamline border crossing to be make.
- Silk Road Bell Initiative – Refers to proposed overload routes for land and rail transportation through langlocked central asia.
- Maritime silk route – refers to indo-pacific sea routes through southeast Asia to south Asia, the middle East and Africa.
OBJECTIVES:-
- Market for excess capacity.
- Boost trade
- Develop western region of china.
- Creative alternative energy supply route.
- Increase influence.
- Internationalization of reminbi
- New investment option
- Counter Asia-pivot
The council of foreign relation has highlighted through BRI, China trying to expand the influence of currency ‘Renminbi’ International push.
There are many big project under BRI.
- China-Pakistan economic corridor (CPEC) – largest project under BRI Budget – $60 billion.
- Expected cost (BRI) – $1 trillian till $210 billion spent.
- Project target completion – 2049
- Leadership group which reports directly in- state counseling China.
- Total Project – 2900.
Geapolitics :-With increasing expansion of BRI, danger economical imperialism by China is growing (specially small countries)
Imperialism – Policy which growing colonalisation, as military force, by power .
Challenges
- Poor governance and instability
- Separatist movement and ethnic tension.
- Cooperation from neighboring nations.
Why should India Join the BRI?
- Economic Benefits :- Boost to trade, Investment business engagement, It’ll provide direct access to Asia and Afghan, BRI would ease tension between India and Pakistan ; Tapi – gas pipeline (Iron – Pakistan – India)
- Security benefit
- Geopolitical benefit
Challenges :-
- Hight development castes for project.
- India objection for opposes China-Pakistan Economic Corridor (CPE) a pilot project of trade initiative, due to its route passing through gilgit-batistan. (Dispute area between Pakistan-India)
Concerns:-
- Contracts and Jobs :-
- Majority of jobs and contracts given to Chinese firms and people.
- Protest in several countries regard implementation of BRI
- Debt Trap :-
- China pushig countries in debt by providing loans to countries.
- Pakistan fallen in dept krap- USD 50 billion dollar, ex-combodition, Srilanka.
- Transparency concern :
- Instances of nation like Nepal and Pakistan abandoning deal with china to build infrastructure project due to closed tender process and strict deal conditions.