Chinese president Xi Jinping was in Davos Monday to deliver a keynote speech about globalization and how this can affect the worldwide economy. While at it, he also managed to sneak in a few key notes about the 'Belt and Road Initiative' and how it can benefit everyone else from China to the other side of the world.
The speech, seen on China.org, began with a greeting as well as an introduction to the challenges the world faces today. The president cited a few instances where chaos reigned supreme, highlighting poverty, unemployment, and the income gap as some of the modern problems that need a modern solution. He echoed the sentiments that everyone had: what was going on with the world?
He pointed out that economic globalization is the key to creating an interconnected world. China's Belt and Road Initiative, which is already passing through a few countries, is the key to this, Xi Jinping said. He also continued to reassure everyone present that China remained committed to an equal sharing of development as well as prosperity, two important elements in developing a nation's economy.
The observation of many countries on the Belt and Road Initiative confirms Xi's ideas. Pierre Picard, a University of Paris VIII expert on Chinese policy, said that the Belt and Road Initiative was instrumental in stretching economic development in places which were in dire need of it. These regions are found in areas that are traditionally weak economies; from Africa to Southeast and Central Asia, the BRI continued to include slower-developing economies and build them up.
According to Xinhua, Picard said that the Initiative was one of the best things to happen so far to these parts of the world, as well as a good proposal for globalization. He said that most countries that use the model for their own economies have grown stronger developments in their own financial structures, making these countries stronger.
Sergey Lukonin of the Russian Academy of Sciences echoes Picard's assumption. He said that the Initiative, made for the good of the people, took into account all the weaknesses of the countries and strived to build a better future for everyone.
The Belt and Road Initiative stresses cooperation, collaboration, as well as the equal participation of countries; qualities which are sorely needed in a more global and open economic society.
