china announced that it will pledge $124 billion to spearhead the development of the "Belt And Road" initiative, which will interconnect the entire Eurasian continent. The project will bring together Asia, Europe, and Africa in a massive interconnected land and sea trade route that will hopefully boost the economy of all of participating nations immensely.
What does China promise countries who participate in the new Silk road project?
China promises productivity and prosperity as the Belt and Road initiative aims to connect countries together. Its goal is to increase productivity and trade between nations, which are separated by natural, economic and cultural barriers.
President Xi Jinping invited everyone, including the United States to join this momentous project. To spearhead this initiative, China has pledged $124 billion already and has started to develop trade routes to Pakistan and Thailand. China hopes that India will soon join the Belt and Road project and join the two most populous nations on Earth in a cooperative bond of friendship and economic ties.
China also promises economic incentives for countries that are in need of jobs, productivity improvements and trade boosts. Beijing is willing to provide these incentives, though it is hoping that other major economies join in. At the moment, China is wooing Russia to be a major ally on this economic endeavor.
Is the United States interested in joining China's initiative?
Trump, in a surprising move, said that a delegation will attend the Belt and Road forum in China's attempt to unify Eurasia under its influence. Many skeptics of China's intentions are wary that this initiative is just a clever ploy to attract countries to China's sphere of influence.
Relations between the U.S and China hasn't been harmonious through the decades and suddenly joining together in a project that will clearly be beneficial for China is highly unlikely. The Belt and Road initiative, if completed, will mean the shift of global economic power from the United States to China and its allies. In a matter of ten to twenty years, China will become the largest economy on the planet and may become even greater than the United States.
Many U.S nationalists are not happy with China dictating world economics as it will mean the end of American superiority in almost every area in the globe. The new Silk road includes the creation of a new canal in Central America apart from Panama, a new trade route that connects Europe and Africa and a new crossing in Thailand that will decongest the straits of Malacca. Once these improvements are completed, the U.S will no longer be the world's greatest economy and China could become the greatest nation on Earth.
