7. China's Belt and Road Initiative and controversies associated with it

What is this project about? 
Belt and Road Initiative (BRI) is a multi-billion project initiated by China to link Asia with Africa and Europe via land and maritime linkages along six corridors with the objective of improving regional integration,coordination, boosting trade and stimulating economic growth. Many eminent thinkers have declared it "The Project of the Century".
Where are those six corridors? (1)
  1) linking China to Europe through Central Asia and Russia; (China-Mongolia-Russia Economic Corridor (CMREC))
  2) Connecting China with the Middle East through Central Asia (China-Central and West Asia Economic Corridor (CCWAEC))
  3) China-Pakistan Economic Corridor
  4) China-Indo-China Peninsula Economic Corridor
  5)  New Eurasian Land Bridge (NELB)
  6) Bangladesh-China-India-Myanmar Economic Corridor

Six corridors

Total outlay 
According to the Chinese president, China is planning to invest around $1 trillion, mainly aimed at building infrastructure in more than 65 countries. The infrastructure includes ports, railway tracks, road networks, industrial zones, energy-related projects and telecommunication networks. According to a Chinese website, around $220 billion has already been invested in various countries including Pakistan, Malaysia, Vietnam and Central Asian states.
Purpose of the project (as explained in the official Chinese documents) (2)
⦁Policy Coordination:  The countries involved in the multi-billion project will get a chance to harmonize their policies in line with emerging needs. Better coordination implies better prospects for cooperation in areas ranging from trade, to exchange of information, to technology transfer and people-to-people exchanges. Moreover, the states will be to jointly frame strategies against mutual threats such as terrorism, cyber-security threats, global warming and nuclear proliferation.
⦁Infrastructure Connectivity: To materialize the idea of policy coordination, the countries will be linked through physical infrastructure such as roads, railways and maritime routes. Physical connectivity will facilitate speedy exchange of products, ideas and services.
⦁Unimpeded Trade: Mutual trade is pivotal to sustained economic growth. Countries want to bolster trade with one another but infrastructure bottlenecks keep them from realizing full trade potential. Therefore, removing hurdles in the way of mutual trade is the cornerstone of BRI. The more the trade, the faster the economic growth. As a matter of fact,  with economic growth, poverty can be alleviated.
⦁Financial Integration: Another object is to integrate financial system of the member countries to reduce troubles caused by disparate currencies in the world. Financial management becomes easy when uniform currency is used for trade and other exchanges.
⦁Connecting people: As has already been mentioned , people-to-people exchanges will increase with the increased physical linkages among countries. Sharing of ideas among people of different background is considered good for social, political and economic areas. Moreover, people will get a chance to understand their fellow human beings.
How many countries are part of BRI? 
Until 2018, more than 70 countries including many European countries have agreed to become part of the mega project. According to an estimate, 65% of the total population of the world have become part of the Chinese initiative.
What does 'Belt' and 'Road' actually mean? 
The BRI comprises a Silk Road Economic Belt – a trans-continental passage that links China with south east Asia, south Asia, Central Asia, Russia and Europe by land – and a 21st century Maritime Silk Road, a sea route connecting China’s coastal regions with south east and south Asia, the South Pacific, the Middle East and Eastern Africa, all the way to Europe. So basically 'Belt' is a maritime route to link China with the rest of the world and the 'Road' is land route that is going to connect China with other regions.
Who initiated it? 
The pioneer of this project is incumbent Chinese president Xi Jinping who floated the idea of BRI in 2013. He was inspired by the Old Silk Route that had connected China with the Mediterranean Sea through Eurasian Belt some 2000 years ago during the rule of Han Dynasty. 
Critics of BRI:
While BRI was welcomed in greater part of the world, a few countries openly expressed their hostility towards the project.  Among the critics (3) are US, Japan, India and Australia. These countries have declared the project as "Chinese Marshall Plan" to expand and deepen its influence across the world. They contend that the countries like Pakistan, Sri Lanka, Djibouti and Malaysia have fallen into Chinese "Debt trap" and are unable to pay interests on loans. The quote Sri Lanka's example which had to hand over control of a port to China after it had failed to pay back Chinese loans. Another point the critics make is that China is planning to expand its military presence across the world to assert itself as a super power. To substantiate the argument, they quote the example of a Chinese base in Djibouti.
Is the criticism justified?
Critics overlook the positive side of initiative. Belt and Road Initiative is actually a blessing for many developing countries which were looking for foreign investments to build infrastructure and stimulate economic growth and alleviate poverty. For example, China invested more than $50 billion in Pakistan under the BRI commitments. Pakistan had been facing energy crisis for many years and was unable to resolve it.  However, with the help of Chinese investments under BRI, it has built many power plants and overcome the crisis. Similarly, many roads networks, linking underdeveloped regions with developed areas, have been built with the Chinese investments. Besides, the Chinese financed Industrial zones will create jobs and accelerate economic growth. And the present Pakistani debt troubles have nothing to do with China-Pakistan Economic Corridor as Chinese repayments will start from 2023-24. And China never interferes in internal matters of Pakistan. The same approach is adopted by China for other countries as well. Therefore, the criticism seems baseless and unfounded.
Why it is important and should not be hampered? 
As  The UN Department of Economic and Social Affairs (DESA) Development Policy and Analysis Division Director noted that “there are myriad synergies and linkages between the BRI and the sustainable development goals (SDGs)”.
⦁According to a UN report, nearly 820 million people go to bed empty stomach. These people do not belong to US, Australia or Japan. In fact, they are living in developing countries which are part of this project. Chinese investments are creating job opportunities, stimulating economic growth, therefore, alleviating poverty in developing countries. So it is imperative that the critics stop propaganda against the great Chinese initiative help other countries
⦁We are living in a globalized world. As a matter of fact, every country is benefiting from the inter-connected world. Thus BRI is a practical manifestation of globalization and enhanced inter-connectivity. It will expedite flow of ideas, goods and services among member countries.
⦁To deal with major threats such as terrorism, global warming and cyber-attacks, coordination and cooperation among countries is a must. BRI will boost synergy and coordination.
⦁As sustainable goal No. 8 pledges to build infrastructure and foster innovation in developing countries, China is lending helping hand to the underdeveloped countries in this regard and delivering on a UN goal.

Sources: 
1. World Bank (https://www.worldbank.org/en/topic/regional-integration/brief/belt-and-road-initiative)
2. China Trade Research Centre Hong Kong Trade Development Council (HKTDC) (http://china-trade-research.hktdc.com/business-news/article/The-Belt-and-Road-Initiative/The-Belt-and-Road-Initiative/obor/en/1/1X000000/1X0A36B7.htm)
3. China Go Abroad (http://www.chinagoabroad.com/en/article/china-to-advance-six-economic-corridors-in-support-of-the-one-belt-one-road-initiative)

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