The CPEC Front
Since its launch by Chinese President Xi Jinping in 2013, the Belt and Road Initiative has been playing a dominant role in social and economic development of the BRI- and non-BRI countries. Colossal investments backed by China’s highest authority, President Xi himself, continue to play a pivotal role in various areas. Enhanced regional connectivity, and the cooperation and prosperity the BRI promises have offered huge diplomatic space to China to impact the international security and economy. It has been estimated that BRI-stipulated GDP growth, trade facilitation, socioeconomic development, foreign direct investment and human capital improvement will help BRI-countries boost trade by as much as 9.7%, provided that projects are executed in time and as per their potential. Apart from helping countries in strengthening their faltering economies, BRI is also set to complement UN-launched Sustainable Development Goals (SDGs). Alleviation of poverty is the most promising dividend of BRI. Almost 40 million people will be lifted out of extreme ($1.90) and moderate ($3.20) poverty. By all accounts, over $7 trillion worth investment under the portfolio of BRI in 71 countries is going to have tremendous impacts over global economy, finance and trade, and by extension, over international security and global governance.
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