China: Belt and Road Launches New Era of Globalisation
The Belt and Road Initiative was revealed in 2013 and it aims at constructing an up and coming “Silk Road”. This would connect China by land and sea to Central Asia, Southeast Asia and Pakistan, and even beyond to Europe, Africa and the Middle East.
Takeovers and mergers by Chinese firms in countries that are part of the Belt and Road project are rising, even though Beijing is currently dealing with China’s acquisitive conglomerates in order to curb capital outflows.
The core objective of the development is to amplify trade and boost economic growth across the whole of Asia and further. This will be achieved by hopefully building substantial amounts of infrastructure such as railways to Russia and pipelines in Pakistan.
President Xi Jinping’s signature foreign policy links Chinese acquisitions in the 68 countries involved and came to USD $33 billion. According to Thomson Reuters data, this result, therefore, exceeds the USD $31 billion tally for the year of 2016.
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