Why Is China Building A New Silk Road?


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Why Is China Building A New Silk Road?

“Silk road embodies the spirit of discovery and exchange. It encourages people to look for what unites them rather than what divides them.”

China, a country occupying the eastern part of Asia is regarded as the world’s most populous country. Being world’s 4th largest country, it covers about 9.6 Million sq. kilometers area. The country’s GDP is the highest amongst all the countries i.e. $23.159 Trillion. One of the greatest marketing strategies that led China to attain this position is the manufacture of a silk route. This extremely ancient concept employed by their ancestors connected the country to various other regions like Asia, Africa and Eastern Europe for trade.

• Considered to be at least 4,000 miles long, the route is an astounding trade marketing initiative of the history.
• Facilitated the process of trade and commerce across the bordering regions of the nation.
• Name silk route given because the major trade item that was exported to other regions was “silk”.

Pioneering of the silk route
• Discovery of the major marketing route for trade and commerce was done by Zhang Qian in Western Han Dynasty.
• Silk route was further explored and enlarged by other dynasties like Tang dynasty, Other Han dynasties and Yuan dynasty.
Present Innovations, Development of New Silk Road

“If bridges, pipelines, and railroads are the arteries of the modern world, then China is positioning itself as the beating heart.”
• In 2013, the Chinese president XI Jinping stated the reborn of Silk Road, which is considered to be the most expensive and smart marketing initiatives till now.
• The Belt and Road will connect, by China’s borders, 65 % of the world’s population and 30% of global G.D.P. So far, about 68 countries have agreed with this highly sought project.
• The ultimate goal of this resurrection is to announce a new era of globalization wherein trade and marketing would be domineering aspects of the economy
• In order to make developments in the poor South-Chinese cities, the president took this initiative, announcing that not just China would be a beneficiary, but also the whole network to which the new Silk Road goes.
• With the aim of possessing "Global Superpower" title, the strategy to extend and rejuvenate the Silk Road is worth appreciating and smartly-oriented.
• Being a nexus of power, commerce and trade, the new Silk Road project would elevate the GDP and economy of China to bewildering level.
• The United States seems to be highly revival of this initiative taken up by China, sense of insecurity for the competition regarding Globally-fit nations of the world, one of which is the new silk-road initiative, has led to a state of distinct views amongst the two nations.

Vindications behind the Innovative Project
• Industrial overcapacity regarding the Steel industry, which employs heavy equipment, would be highly benefited in the trade process if the silk route to various other nations in the set-up.
• If the country isn't able to rely on the domestic market, trade relations developed with others would ameliorate the economy and it wouldn't really be affected by the decline of trade within the country's borders.
• Cementing the country’s status as a dominant player in the world affairs by elevating the cultural and economic partnerships, thereby rendering the country superlative.
• Motivational strategy to elevate the country’s value for foreign trade to $2.5 Trillion within a limited span.
• The country aims to produce the new silk route under the conditions that new trade route should promote development, be socially reliable, acceptable and be sustainably developed.

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