Impact of the Belt and Road Initiative on World Politics and Economy

Abstract

This paper aims at focusing on the main impact of the China belt and road initiative on world politics and economic development. Given that the BRI is a foreign policy launched by the Chinese government under the leadership of President Xi, and this time on a large scale with a plethora of impacts designed to build a network of mutually benefiting economic activities among the China neighbours across the Eurasian continent and the maritime routes between China and Europe, with plans to extend to Africa. The collaborative efforts of this initiative would expand global trade and increase economic development among the countries within the One Belt, One Road area. The initiative also presents scepticisms, uncertainties and concerns among political elites, offering observers the outlook of the advantage the initiative offers the Chinese at the expense of developing countries. The paper uses the secondary data methodological approach in presenting its reviewed literature. The paper adopts the theories of geopolitics that explain the political power linked to geographical space that comprises water and land as its territories. The objective of the Belt and Road Initiative is to enhance the connectivity of infrastructure, trade liberalization, and global financial integration. The article investigates the development of the project from global political, geographical, economical and international relations perspectives.