Saudi Arabia, UAE, Qatar, and Oman have mixed feelings about China’s ambitious project.
By Giorgio Cafiero and Daniel Wagner
THE DIPLOMAT - May 24, 2017
The “One Belt, One Road” (OBOR) initiative is China’s ambitious
vision for restructuring the global economy on Beijing’s terms. As the
world’s largest planned economic corridor, OBOR encompasses 60
countries and links China to Europe through ports, highways, bridges,
tunnels, communications grids, and rail links along two pathways that
traverse several regions. The “Belt” (the “Silk Road Economic Belt”)
stretches from Western China to Europe via Central Asia. The “Road” (the
“21st century Maritime Silk Road”) links China to Europe via the South
China Sea, Indian Ocean, and Red Sea.
Earlier this month, President Xi Jinping addressed the Silk Road
Summit for International Cooperation in Beijing in pursuit of more
international support for OBOR. Xi pledged an additional $124 billion
in funding for OBOR, which will include assistance, grants, and loans
to countries within the initiative. According to Chinese state media,
OBOR has already received $1 trillion in investment and several more trillion will follow in the coming decade.