China is currently investing heavily in restoring the ancient Silk Road which strengthens trade routes on both land and sea from China to southern Asia, Africa, Europe and the Middle East. Silk Road 2.0 could mean new interesting markets in countries like India, Malaysia, Philippines and Thailand, along with possible new regulations for visa and export rules in countries involved in the project.
China is currently making huge investments in ports and infrastructure throughout Southern Asia, eastern Africa, the Middle East and Europe to restore the iconic ancient Silk Road, which connects China to the Western World. The project, which goes by the name “Road and Belt Initiative” or “One Belt and One Road”, has a massive 900-billion-dollar budget, and was launched by Chinese President Xi Jinping in 2013 to strengthen Chinas connectivity with the world and to usher “A New Era of Globalization”. With the project, China seeks to strengthen both their geopolitical and economic influence and to develop new investment opportunities, cultivate export markets and boost Chinese incomes and domestic consumption. The Road and Belt initiative will strengthen Chinas influence around the world and position China as a global world power.
The New Silk Road seeks to create both maritime and land fast trade routes from China, including rails, roads, ports and energy plants. According to the plans for the project, the maritime road should begin along the Eastern ports of China, then southwest to Singapore, Indonesia, Bangladesh, Sri Lanka, Malaysia and along the Indian Ocean to the eastern coasts of Africa, through the Suez Canal to Europe with a final destination at the Italian port of Venice. China is also planning a maritime Polar Silk Road, which departs from eastern China, through the Bering Strait and onwards north of Russia, Siberia and Northern Norway with an end destination in the ports of Belgium and the Netherlands. The land fast route should cross through most of the Middle East, including Afghanistan, Kazakhstan and Pakistan, through Turkey on to Russia, Poland and Germany.
China has offered to lend out as much as $8 trillion to build the hard and soft infrastructure throughout the 68 countries who are involved in the project; this adds up to affect as much as 65% of the global population and a third of global GDP.
The New Silk Road will surely bolster global trade and transport, creating both well-structured trade routes and new market opportunities for import and export of goods and services. Apart from that, the project will create thousands of jobs in the fields of engineering, architecture and construction in the process of creating the infrastructure, tunnels, ports and bridges along the New Silk Road.
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