In the steppes of central Asia, the Silk Road Economic Belt is a vast trading area that crisscrosses the countries of this region. Although it was designed to boost trade, the Belt has also become a cause for dispute between China, the main country along it, and its neighbors India, Pakistan, and Bangladesh. Most of the disputes revolve around the boundary areas, where different nations claim to have control over. There have also been questions about maritime borders, and the legal status of islands that China claims are part of its territory.
The Belt does, however, connect China to the rest of the world through the economic corridors it has made. Those include the India Pakistani-Osman railway, the China-adesh Nepal (COP) railway, and the Iran-India railway. With regard to trade, most goods that cross these countries can be classified as Chinese exports, as they have been transported here via the route. These goods include textiles, jute, and cotton, while many items that enter India through Pakistan are Indian exports Silk Road economic belt.
The governments of these countries have been receptive to the Belt’s impact on their economies, viewing it as a vital way to promote economic growth. Yet, some wonder whether it is merely a clever propaganda tool by the Chinese government to promote its own interests at the expense of its neighbors. One point that should be noted is that the countries along the Silk Road are not politically stable, and some have been unstable since independence. The Belt may seem like a convenient way to improve bilateral ties between the neighbors, but it is important for them to remember that China needs the support of its neighbors to advance its global ambitions.
There are a number of criticisms of the Belt. Some argue that it is a distraction from the real issues faced by the participants in the negotiation table, such as how to increase economic growth and how to tackle terrorism. Others point out that it does nothing to change the fundamental architecture of international trade, and that it will do little to increase the size of the global economy or employment levels. Still others have suggested that the Belt may provide an opening for illicit activities that have yet to be tackled by the countries participating in the talks.
However, some argue that it is important to treat the Belt as a tool, rather than as an instrument for political manipulation. Those who see the Belt as a tool to argue that it is useful in creating a united front against globalisation. It helps focus attention towards some countries that might otherwise be overlooked in trade negotiations. It might also encourage other countries to invest more in improving their economic conditions and infrastructure, thereby creating jobs for citizens in those countries. Many of the participants in the Silk Road Economic Belt will also find themselves much closer to one another because of the common infrastructure that will be in place.
Some of the countries participating will be quite close geographically to one another. For example, China is one of the farthest countries from the United States. Japan and South Korea are also very far away, while India is relatively close in proximity. The countries that are closest to the United States, Canada, and Australia are also some of the world’s most developed nations. This means that political and economic cooperation will be much easier to maintain among these countries, which should lead to an increase in political tolerance and cooperation across the region.
When the political pressure is on, it can be difficult for trade deals to move forward. The political leaders of these countries involved in the Silk Road Economic Belt may use the Belt as a tool for their own gain. They will look to use trade barriers to their advantage. One of the reasons that the United States and Europe were able to strike a deal was because they were able to present a united front against political aggression. Each country involved was able to use its comparative advantages in negotiating a reasonable deal for its country.
On the whole, the Silk Road Economic Belt seems to be an excellent idea. The benefits it holds for the residents of various nations that are involved in the development will be undeniable. The benefits are not just limited to the United States and European Union. Other countries such as India, Pakistan, and Bangladesh are also watching the developments with interest. The future of the Silk Road Economic Belt has many bright spots.