The Belt and Road Initiative (BRI) is a massive China-led infrastructure project that aims to stretch around the globe. Launched in 2013 by President Xi Jinping, the BRI was originally devised to link East Asia and Europe through physical infrastructure, such as railways, highways, ports, and power plants. In the decade since, the project has expanded to Africa, Oceania, and Latin America, significantly broadening China’s economic and political influence.

The BRI is often referred to as the New Silk Road, a reference to the ancient trade routes that connected China with the rest of Eurasia and Africa. The BRI seeks to revive and expand these routes, creating a network of trade and investment that spans over 150 countries and international organizations . According to China, the BRI is a win-win initiative that promotes mutual development and cooperation among participating countries.

However, some analysts see the BRI as an unsettling extension of China’s rising power, and a challenge to the existing world order. They argue that the BRI is a strategic tool for China to expand its geopolitical influence, secure its energy and resource needs, and counterbalance the US presence in Asia and beyond. They also point out that many of the BRI projects are plagued by high costs, low returns, environmental risks, and governance issues. Some of the participating countries have experienced debt crises or political backlash due to their involvement in the BRI.

The US shares the concern of some of its allies and partners in Asia that the BRI could be a Trojan horse for China-led regional development and military expansion. The US has criticized the BRI for its lack of transparency, accountability, and sustainability, and has accused China of engaging in “debt-trap diplomacy” and predatory lending practices. The US has also sought to offer competing visions for regional connectivity, such as the Blue Dot Network and the Build Back Better World (B3W) initiative.

The BRI is not a monolithic or static project, but rather a dynamic and evolving one. It reflects China’s ambitions and aspirations, but also its challenges and constraints. It also responds to the changing needs and interests of the participating countries and regions.

The BRI is likely to continue to shape the global economy and geopolitics in the coming years, creating both opportunities and challenges for cooperation and competition among various actors.

The BRI is still an evolving and dynamic initiative that is constantly adapting to changing circumstances and feedback. The scope, scale, and impact of the BRI are hard to measure precisely, as different sources may have different definitions and criteria for what constitutes a BRI project. Nevertheless, according to some estimates, the total value of the BRI projects could reach up to $8 trillion by 2049, involving more than 70% of the world’s population and 40% of the global GDP. The BRI has undoubtedly become one of the most significant and controversial developments in the contemporary world.

One of the main objectives of the BRI is to promote development and prosperity in the regions along the routes. To achieve this, China has funded and implemented hundreds of projects in various sectors and countries. Here are some specific examples of projects funded by BRI:

– In Pakistan, the China-Pakistan Economic Corridor (CPEC) is a flagship project of the BRI that involves a network of highways, railways, pipelines, and power plants worth $62 billion. The CPEC aims to link China’s western province of Xinjiang with Pakistan’s port city of Gwadar on the Arabian Sea, creating a shorter and cheaper route for China’s trade with the Middle East and Africa. The CPEC is expected to create over two million jobs and boost Pakistan’s economic growth by 2-3 percentage points.

– In Kenya, the Mombasa-Nairobi Standard Gauge Railway (SGR) is a BRI project that connects Kenya’s largest port with its capital city. The SGR was completed in 2017 with a cost of $3.2 billion, making it the largest infrastructure project in Kenya’s history. The SGR has reduced the travel time between Mombasa and Nairobi from 12 hours by road to 4.5 hours by train, facilitating trade and tourism. The SGR also has environmental benefits, as it reduces greenhouse gas emissions and saves fuel consumption.

– In Indonesia, the Jakarta-Bandung High-Speed Railway (HSR) is a BRI project that will link Indonesia’s capital city with its fourth-largest city. The HSR is expected to be completed in 2022 with a cost of $6 billion. The HSR will be the first high-speed railway in Southeast Asia, with a maximum speed of 350 km/h. The HSR will cut the travel time between Jakarta and Bandung from 3 hours by road to 40 minutes by train, enhancing connectivity and economic development in both cities.

These are just some examples of projects funded by BRI that demonstrate its scope and impact on different regions and sectors. The BRI is not without challenges and controversies, such as debt sustainability, environmental and social impacts, transparency and governance issues, and geopolitical implications. However, the BRI also offers opportunities for cooperation and mutual benefit among participating countries and beyond.