How important is the One Belt One Road Initiative?

In 2014, the foreign minister, Wang Yi, stated that the One Belt One Road Initiative was President Xi Jinping’s most significant foreign policy. The aim of the initiative is to create an economically united Eurasia that would rival against the trading area in the Transatlantic. The project is divided into two parts; the belt is a physical road that would connect Europe and Asia. On the other hand, the road would be a maritime Silk Road consisting of shipping lanes. Therefore, if this initiative will turn into reality, about 65% of the world’s population, about one-third of the world’s GDP, and about a quarter of all the goods and services around the world would be using this project headed by the People’s Republic of China. The president targets a more profitable environment for China’s vast foreign-exchange reserves, most of which are low-interest-bearing American government securities. Furthermore, the initiative plans to create more markets for Chinese companies such as high-speed rail firms for exporting various Chinese goods and products.

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