“One Belt One Road” Project 2.0 — A strategy to stimulate China’s global expansion

Abstract

The article analyses the formation and development of the Chinese initiative “one belt, one road” (OBOR), the main internal and external factors of its promotion, motives and goals. It shows how the initiative of the new Silk Road (NSR) has evolved into the concept of globalisation with Chinese characteristics, the strategy of overseas expansion of China. The NSR initiative is tied to the transformation of the traditional export-oriented model of labour-intensive production, with a high rate of accumulation, total borrowing of foreign technologies to a new model oriented to domestic demand, export of high-tech products, own innovations. It is shown that in the course of the implementation of the OBOR initiative, elements of the old model of trade and investment expansion are used. It makes it possible to gain time for the transition to a new model, to create opportunities for its implementation. During the course of its theoretical development by Chinese social scientists and its practical implementation, the OBOR project is being transformed into version 2.0, being filled with geo-economic content, while at the same time focusing on the achievement of intra-economic goals. It reveals the evolution of the BRI, which claims to be the new mechanism of globalisation, the “concept of global governance”, the new ideology of globalism with the slogan “building a community of the common destiny of humanity”.