China's One Belt One Road (OBOR) Initiative and Its Ambitions for Global Hegemony

Abstract

This research paper analyses China's One Belt, One Road initiative and explores its ambitions for influencing the world economy through these economic corridors. However, each economic corridor has been separately explained in order to understand how these economic corridors would contribute to the rise and expansion of China in the world. In addition, to know whether the One Belt and One Road Initiative offers these six corridors' member states an opportunity to create a win-win relationship with China. It will ensure access and increase trade volume to the major world markets, or is it still a pipe dream for these countries to obtain such goals and objectives? Apart from this, to find out how it would improve and enhance regional connectivity, people-to-people contact, economic development, transit trade, road and maritime transport networks and tourism. This study used the qualitative method with an interpretive and descriptive approach. The purposive sampling technique was used to select the participants for the interview, and the snowball sampling technique was used to approach the participants. Five participants were interviewed through an interview schedule. The interview schedule was emailed to participants, and they typed their responses on MS Word and sent them back to the researcher. The researcher developed themes, and data were analyzed according to those themes. The findings of the study suggested that China has initiated these projects to promote its political power and economic interests in the region.