Abstract
As a megaproject, Belt and Road Initiative (BRI) has a vital role in the economic development, strategic policies and social development of member countries. This study investigates the potential of BRI on the economic development of member countries. A qualitative approach, particularly desk review, has been adapted. This study focuses on key economic development issues like the geographical importance of economic corridors, geographical coverage, the implication for manufacturing industries, markets, infrastructures, stimulating trade, regional connectivity, and internationalization of Chinese currency. The study reveals that BRI considerably impacts all the elements of economic development. The BRI has already started contributing to partner countries’ mainstream economies. Some challenges remain in its implementation stages, such as funding, time of accomplishment, geography and topography, geopolitical barriers, and security issues. This study recommends a periodical assessment of the challenging problems in the context of member countries to gain full advantages of the BRI.
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