enriching Keqiang when he commissioned a multi-regional

enriching way that left both the
wayfarers and the residents better than they were. All this enabled the
technology to be shared with Europe prior to the isolationist tendencies that have
dogged us till today. The president expressed his positive conviction that a
Maritime Silk Road connecting the intimidating seas and BRI would accelerate
the development in this region.

The current president reiterated the
postulation of Li Keqiang when he commissioned a multi-regional campaign that
has seen this dream turn into some semblance of reality (HKTDC Research. 2017).

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The BRI intends to connect Asia, Africa, and Europe along major routes. The
geographical region of Eurasia which is geologically united has been bound by
the new Eurasia land bridge. The railway running from Lianyungang to Rotterdam
in Holland opens up new opportunities which were previously unforeseeable. The
president has also continued a diplomatic relationship with intended partners
to establish the interconnection. In Africa, port countries of Kenya and
Tanzania have been heavily funded through debt initiatives to built major
infrastructures that will actualize these goals. In Kenya for instance, the
Standard Rail Gauge which runs from the port of Mombasa to buzzing capital of
Ethiopia links the Sub-Saharan to the economic powerhouse of North Africa
(Irandu, 2017). Indochina and Pakistan have been conjoined in this initiative
with major economic deployments coupled with policy and peace initiatives to
commence long terms healing. According to the Xi Jinping, this will foster real
and sustainable growth from the BRI. The success of the BRI initiative in
global business can be assessed from its five main pillars.

 

 

Facility
Connectivity

 The Silk Road was basically a road. The
Chinese government has established a $40 Billion find through a consortium of
various banks to fund the infrastructural development of this initiative
(National Development and Reform Commission e al., 2015). Last year, the
president of China announced a 100 Yuan contribution to the Silk Road project
that will see better roads linking the key areas in Asia.

Infrastructure also involves the
elements that are considered auxiliary to trade. They include security which
should be guaranteed along the roads. A major challenge to medieval trade was
bands of armed bandits who made trading insecure. Currently, remote areas where
the road or railways passes require security to prevent sabotage or any
attacks. Power is another major requirement that is needed to fuel the
infrastructural development. This includes the provision of electricity, gas
among other power options to ensure that trade runs smoothly.

These provisions have had a major
impact on global development. Resources are now freely moving across regional
boundaries with little barriers. Through the Silk Road and the land bridge
railway, it is easier to ship one’s products from China to Europe without a
hassle (Rana, 2017). The maritime road also opens up trade to new markets of
Africa, Russian and the Arctic. Also, the initiative crops new business
opportunities and employment that further leads to economic growth. Businesses
have an opportunity to expand to regions that were out of their reach. In
addition, the vast populations of China and India will have the opportunity to
augment their income through innovation that is brought about by the new
opportunities.