China’s $1 trillion push to build infrastructure across Asia evokes romantic comparisons to the ancient Silk Road, but there is a more recent chapter of history that urges caution. More than a century and a half ago, the United States was a rising power racing westward, building transcontinental railways that delivered limited benefits and exacted a high cost from society. Today, China has taken on that role. The parallels are striking — and troubling.
China has embarked on the most ambitious infrastructure project in modern world history. It’s called the Belt and Road Initiative (BRI), and it spans three continents and covers almost 60 percent of the world’s population. It’s how China plans to become the world’s next superpower.
As Europe disappears, Asia coheres. The supercontinent is becoming one fluid, comprehensible unit of trade and conflict, as the Westphalian system of states weakens and older, imperial legacies – Russian, Chinese, Iranian, Turkish – become paramount.
Nearly three years have passed since the China-Pakistan Economic Corridor (CPEC) was formally launched. Several projects have come online, and a critical mass of electric power and infrastructure projects will be operational within the next 12 to 18 months. Now, more than halfway through the first of CPEC’s three five-year phases, is an opportune moment to assess how Beijing and Islamabad have fared so far in pushing forward the massive, fifteen-year connectivity project, valued at upwards of $62 billion.
A small town on Sri Lanka’s southern coast has become something of a global lighthouse. Sitting in the Indian Ocean, Hambantota serves as a warning about the hazards of China’s global infrastructure push, which could make small economies dependent even while helping them develop. It also reveals the challenges that India, Japan and others, including the United States, face in mounting an effective response.