One strong incentive is that Trans-Eurasian trade infrastructure could bolster poorer countries to the south of China, as well as boost global trade.
Domestic regions are also expected to benefit – especially the less-developed border regions in the west of the country, such as Xinjiang. The country’s vast industrial overcapacity – mainly in the creation of steel and heavy equipment – could find lucrative outlets along the New Silk Road, and this could allow Chinese manufacturing to swing towards higher-end industrial goods.
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But reviews from the rest of the world have been mixed, with several countries expressing suspicion about China’s true geopolitical intentions, even while others attended a summit in Beijing earlier this month to praise the scale and scope of the project.For years now the Chinese Communist Party’s propagandists have been running “New Silk Road” advertorials in foreign media outlets. Mc Kinsey noted that if all the “Belt and Road"-pledged money is spent it would dwarf the U.S.-led Marshall Plan that helped western Europe rebuild after World War II.You’ve probably heard of the Silk Road, the ancient trade route that once ran between China and the West during the days of the Roman Empire. It’s also the reason China is no stranger to carrots. Announced in 2013 by President Xi Jinping, a brand new double trade corridor is set to reopen channels between China and its neighbours in the west: most notably Central Asia, the Middle East and Europe.According to the Belt and Road Action Plan released in 2015, the initiative will encompass land routes (the “Belt”) and maritime routes (the “Road”) with the goal of improving trade relationships in the region primarily through infrastructure investments.