re posted from AFRICA AND THE WORLD
Belt and Road Initiative: Another path to globalization
Editor’s note: Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policy of Africa for 30 years. The article reflects the author’s opinion, and not necessarily the views of CGTN.
On the eve of the second Belt and Road Forum (BRF), it is irrefutable that the world has been transformed in the five years since Chinese President Xi Jinping announced the Belt and Road Initiative (BRI).China’s archetype for global development is based on the more elevated concept of each country contributing to the “common destiny of all nations” and mankind’s “shared future.”
By focusing on “global connectivity” through massive investments in infrastructure, linking China to the rest of the world through its land and maritime new Silk Roads, China has presented the world with a new paradigm for development – in effect, redefining globalization.
According to the World Economic Forum (September 2018), “the BRI will encompass 70 percent of the world’s population (4.4 billion) and 63 percent of the world’s GDP (21 trillion U.S. dollars),” primarily from construction of rail lines, highways, ports, airports, hydro-energy plants and pipelines.
The first BRF held in May 2017 included 29 foreign heads of state, 11 heads of international organizations and over two dozen attendees on the ministerial level. Because of the expansion of the BRI over the last two years, already 40 world leaders have confirmed their attendance for this year’s conference.
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