China’s Initiative of One Belt One Road (OBOR) Provides a Platform for Sustainable Economic Development: Redeeming Old Silk Route for New Economic Era

J. Renato Peneluppi Jr.^**, Huang Dong^*, Abdul Ghaffar Mastoi^*, Wimonsiri Saengkrod^**

1. *College of Public Administration, Huazhong University of Science and Technology, Wuhan, People’s Republic of China
2. **College of Architecture and Urban Planning, Huazhong University of Science and Technology, Wuhan, People’s Republic of China

Published in The Fourth NZAAR International Event Series on Natural and Built Environment, Cities, Sustainability and Advanced Engineering, Kuala Lumpur, Malaysia, 27 January 2018, pages 141 to 153. New Zealand Academy of Applied Research. ISSN 2463-5979 (online), 2463-5960 (print). Indexed in the Web of Science Core Collection, Conference Proceedings Citation Index (Clarivate).

Summary

This paper gives an overview of The One Belt, One Road (OBOR) initiative i which is an action plan for reviving a historically significant New Silk Road concept offering considerable potential in several economic, environmental, political, cultural, and strategic realms; China’s strategy proffers an inspiring vision of common development of up to 80 countries based on infrastructure development and common standards. Connecting China to Europe, the Middle East, Central Asia, and South Asia and will involve existing and new rail lines, highways, and pipelines. It is grandiose, potentially involving an area that covers 55 percent of world GNP, 70 percent of global population, and 75 percent of known energy reserves. China’s financial commitments to the project are estimate to $300 billion in infrastructure financing from China in the coming years. ii Main objective here is to envisage China as a global leader taking the lead from United States of America in terms of driving force for world economy towards sustainable development. Given recent economic crisis of 2008 and its catastrophic effects still haunting the global economy, world has envisioned a necessary revision of world economy along with other global catastrophes faced recently as consequences of global warming inherently being the reason behind whole global environmental scenario and restructuring the global economy towards sustainable development.

Rights

Copyright © New Zealand Academy of Applied Research Ltd 2018. All rights reserved. Reproduced in the GDI Academy archive from the original proceedings without change to the authors’ text.