Under the sky blue sky – the colour of optimism and big dreams, 30 world leaders together signed China’s Silk Road deal to embrace globalisation and reject protectionism. The Silk Road Summit has basked Chinese President Xi Jinping in the international spot light, showing China’s power and the power of its propaganda.
On the final day of the two-day forum at Beijing aimed to promote the New Silk Road trade project which is China’s new bold project to nurture international trade among the developing countries across the continent. The Chinese President Xi Jinping and 29 other heads of state confirmed their commitment to build an open economy and free and transparent trade under their ‘Belt and Road Initiative’ or the ‘New Silk Road’ project. In the two-day summit, 30 nations also agreed to promote a rule-based and non-discriminatory trade system beyond international borders.
The “Silk Road Economic Belt and the 21st-century Maritime Silk Road” (a.k.a. “One Belt, One Road” a.k.a. “The Belt and Road Initiative”) is an infrastructure and development plan pitched more than three years ago by Xi. The “Silk Road Economist Belt” is the land transport part of the project and the “Maritime Silk Road” is the water transportation route. China strongly underlined the importance of expanding trade and investment internationally.
President Xi’s grand ambitions of rebuilding ancient favourites of the Silk Route as well as building new ones will ‘in theory’, lead to big construction projects across Central Asia, the Middle East and Europe. He said that in a world of interdependence where no country can stay aloof and intact by relying on themselves, the new Silk Road is an unashamedly anti-protectionist approach. And by connecting the Asia-Pacific Economic Circle with the European Economic Circle, it will be the longest economic portal and has high potential and will promote globalisation.