Essay on One Belt One Road (OBOR)

Date:  2021-07-05 16:45:34
3 pages  (579 words)
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The One Belt, One Road initiative appears as one of Xi Jinpings foreign and economic policy. The initiative aims at reviving trade across Eurasia by connecting three continents and countries such as Malaysia, Indonesia, and Russia. The project focuses on stimulating Chinas economic growth as well as establishing close connections for Beijing and peripheral areas. The Silk Road appears to enhance common security for all major players by promoting trust, and strengthening political and social ties. Notably, there are current factors and trends that influence the One Belt, One Road initiative.

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Factors

First, the US is particularly opposed to the Asian Infrastructure Investment Bank (AIIB). The failure by the US to back the AIIB is a major limiting factor, as China views it as a mistrust of the current regime. Moreover, Japan appears reluctant to support Chinas bid, which is an inhibiting factor for the latter country. Nevertheless, many countries in the West have assured China of support and have applied for AIIB membership.

Second, a section of scholars argue that One Belt, One Road (OBOR) is likely to strike geopolitical tension in the area. In particular, they argue that OBOR will create a similar scenario as the one that was experienced near the end of the 19th century in Europe. It involved various large nations that strived to show their military and industrial dominance. As a matter of fact, the project connects both maritime and land power, which proponents demonstrate that it will bolster the countrys oceanic hegemony within the Asian continent.

Third, Chinas strategic interests are at the centre of the OBOR. For instance, the initiative aims at increasing Beijings influence on the continent, and among the participants. Although it promises to reinforce trade routes, the US currently maintains that OBOR is a Chinese strategy to subdue other nations that may restrain its economic policies. Notably, the current trend indicates that Chinas investments inhibit host nations from dislodging from it unless by violating global economic policies, which in-turn leads to major consequences. For instance, the large capital outlay in Sri-Lanka by the Chinese altered the political scene of the former nation because the current regime proposed the need to support India. Fourth, the need to comply with the global environmental standards is one of the main factors that the latest meeting concerning the project focused on. Moreover, it is unclear whether the economic prospects of OBOR will be achieved.

Recommendations

Chinas strategic infrastructure should involve stakeholders from various parts of the world. For instance, national and international leaders should collaborate with leaders from other super powers such as the US and Russia. Moreover, there is a need to streamline Chinas foreign policy to maintain the balance of trade. In particular, the country may plunge into a debt crisis because a large portion of the funds is borrowed. Moreover, the local leaders should convince other states that the Silk Road is not a geo-economic approach that intends to change the Asian centre of commerce. More importantly, Asian leaders should seek expert information from financial advisors to ensure that the total cost of the project does not outweigh the benefits. With the aim of ensuring a prosperous future, world leaders should apply evidence-based results to ensure that the project does not lead to harmful environmental impacts. Most importantly, it would be prudent for international leaders to ensure that Chinas strategy does not exert dominance over minority nations and that it does not create geopolitical tensions; thus, promote peaceful and prosperous future.

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