The Belt and Road Initiative and the Transformation of Globalization

Abstract

Globalisation contributed to the economic, social, political and cultural development of the deve- loped and developing countries. At the same time, it had an adverse effect, which is in-creasing disparity of income between various social groups and countries. The continuation of such process will lead to the weakening of globalisation, so there is a need to transform globalisation. According to the Author, the initiative of China, entitled: New Belt and New Road is an example of such actions and will contribute to giving new impetus to the process of globalisation in the future. <b>Globalization is now facing one of the biggest challenges in the history: British exit from the EU (Brexit), USA’s quit from the Paris Agreement on climate change, USA also quitted from TPP agreement as well as from UNESCO. People start worry about the next moves of globalization. Therefore, we need to discuss the future of globalization seriously. </b> Clearly, globalization brought very positive impact on economic, social, political and cultural developments for all the countries including the developed as well as developing economies. However, globalization also brought some negative effects, such as the income disparity among different groups of people and different countries. It has been continually enlarging, not narrowing down in the process of globalization. How to deal with the continual globalization? Of course there are different ways. We have been seeing the rising of the nationalism, the protectionism in some of the countries, we have been seeing withdraws of some countries from the global governance institutions. At the same time, we find that China has been making great efforts not only pushing forward the continual globalization but also trying to transfer the old style globalization to the new style globalization which is what I called the transformation of globalization in the new era through the Belt and Road Initiative.