The Impact of the Belt and Road Initiative on the Development of Asian Countries During the Ten Years of Its Implementation

Abstract

China launched the Belt and Road Initiative, which is now marking its tenth anniversary. The Initiative has significantly aided in fostering economic development in Asian, African, and even global economies during the past 10 years and has aided in strengthening international ties. This study mainly examines how the economics and society of developing Asian nations that took part in the Belt and Road project have changed over the past ten years and assesses the potential and difficulties the project will bring about in the future. In this paper, Pakistan is used as the research object, and data analysis and comparison analysis are done using case studies and literature analyses. The primary sources of secondary data for this papers research are journal papers, research books, magazine articles, etc. This study concludes that the Belt and Road Initiatives execution is crucial to advancing the process of globalization and helpful to the social and economic development of Asias developing nations.