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International Political Economy

In 2013, Xi Jinping announced the idea of building a ‘Silk Road Economic Belt’ across Eurasia. A few months later, he proposed a ‘21st Century Maritime Silk Road.’ Five years on, these two projects have been merged in what is arguably the most ambitious economic and diplomatic enterprise of the 21st century: the Belt and Road Initiative (BRI), or One Belt One Road (OBOR). BRI involves over 80 countries across three continents and along six economic “corridors”, plus an additional route to the Arctic. It encompasses 900 infrastructure and development projects with a combined cost of US$900 billion. The Belt and Road Initiative includes projects such as the China-Pakistan Economic Corridor (CPEC), the trans-Eurasian railways network, Ethiopia’s Eastern Industrial Zone …