Belt and Road: China-Africa towards Win-Win Cooperation

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Belt and Road: China-Africa towards Win-Win Cooperation

Raphael Oni

China made history for hosting the biggest diplomatic event in May 2017. The two days world events applauded by media men around the globe ended with hope for the common man. As the curtains were drawn in Beijing on the Belt and Road Forum (BRF) a global blueprint was released, setting up the stage for greater economic integration for globalization.  The Belt and Road Forum for International Cooperation, held in Beijing, has no doubt revealed China’s ability to lead globally.

The Belt and Road Initiative aims to allow all concern countries to have access to development opportunity through enhancing cross-border connectivity and improving cooperative levels of cross-border trade and investment and boost global economy and promote balances, healthy and sustainable development of the world economy by increasing effective supply of new demand.

The world economy has suffered from weak recovery and lack of growth momentum since 2008 global financial crisis. This has caused weak growth and unbalanced development. The Belt and Road Initiative is aimed at breaking the bottleneck of weak growth and unbalance development to achieve common development and benefit people of all concerned countries.

Understanding the Concept of Belt and Road

“Belt and Road” is a massive trade and infrastructure project that aims to link China — physically and financially — to dozens of economies across Asia, Europe, Africa, and Oceania.

 With the Belt and Road Initiative, today China is currently undertaking the largest project of the century — building a network of railroads and shipping lanes linking itself with 70 countries across Asia, Africa, Europe, and Oceania. The main focuses of the “Belt and Road” initiative — also known as “One Belt, One Road” — are in infrastructure, transportation, and energy. Countries including India, Pakistan, Russia, New Zealand and Poland have all joined in the project. Together they make up at least a third of the world’s GDP. As of January 2018, 71 countries are taking part in this new innovation that ill foster more economic integration.

Let me start by referring to notable quotes from President Xi Jinping on the Belt and Road, which have clearly revealed that this noble project is for the entire globe.  On 21st January 2016, President Xi Jinping was in Cairo Egypt, where he said” instead of seeking any sphere of influence, China calls on all countries to join the circle of friends for the Belt and Road. To better understand the call, while attending the World Economy Forum in January 2017, Xi Jinping said “the Belt and Road Initiative originated from China but it has delivered benefits well beyond its boarder”.

The Belt and Road Initiative aims to promote policy coordination, facilities connectivity, free and easy trade flow, financial integration and people to people exchange among nations. The maiden edition of the Belt and Road Forum for International held in Beijing clearly reveals a significant land mark where men and women from the entire globe gather to discuss ways to better the lots of all nations.

At the roundtable meeting attended by 29 Heads of States and Governments, President Xi Jinping listed the challenges facing the world, including sluggish economic recovery, a growing development plans to deal with challenges, the only and best way to handle the prevailing situation is for all countries to align their policies and integrating economic factors and resources on the global scale, this will help us achieve peace, stability and shared development.

At the closing ceremony in Beijing in May 2017, President Xi Jinping statement defined the scope of the Belt and Road in clear terms. According to the President, “though originating in China, the Belt and Road Initiative belongs to the whole world. Its development goes beyond regions, stages of development and civilization”.  This is a pointer to the fact that the Belt and Road Initiative has led to the drawing of a magnificent blueprint for inter-connectivity and mutual access for the world.

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