The Belt and Road’s expansiveness is a double-edged sword. Chinese officials can highlight individual successes and, pointing to a long roster of participants, they can claim international support. Beneath its global banner, though, the Belt and Road is mostly bilateral deal-making.
Here’s what four leaders had to say about China and its “One Belt, One Road” policy at the 2017 World Economic Forum in Davos.
By 2030, two-thirds of the world’s middle class will reside in Asia. The middle class will demand quality infrastructure that meets their needs, without corruption or waste.
What is new about China’s Belt and Road is that it is more likely to succeed outside of Eurasia, leading to new opportunities but also unexpected challenges for Europe and the United States.
Asia’s economic growth has fueled a boom in infrastructure investment across the region. China has taken a lead role with its newly launched Asian Infrastructure Investment Bank and its Belt and Road Initiative — also known as “One Belt, One Road” — which aims to improve connectivity and cooperation between China and the rest of Eurasia.