#AceNewsReport – Aug.07: Experts attach special significance to the importance of “connectivity” – linking the countries in the Asian continent with one another. Two facts that underlie China’s current economic situation are usually noted in this context: its dependence on sea routes to supply its economy.
China imports about 60 per cent of its energy needs in the form of oil and gas from countries in the Middle East and Central Asia. About 80 per cent of these imports pass through the narrow Strait of Malacca. China is thus vulnerable to disruptions that would seriously hurt its economy.
This fear is one reason why Beijing plans to investment a massive amount of resources in what it calls the One Belt, One Road Project (OBOR). The planned investments amount to some $890 billion in 64 countries. Pakistan and Kazakhstan are two major recipients of the OBOR related resources. Most experts believe that the project will cost much more than this amount and would be implemented over several decades. Once the major links in the planned network are completed the Chinese would have changed the structure and shape of global commerce. The country’s dependence on seaborne trade would have been reduced and land-based commerce would have become a significant part of the global delivery system.
The Chinese approach to the use of land to transport not only goods and commodities but also ideas and people is not new. What is new is that modern methods are being introduced into these types of exchanges. “Two thousand years ago Chinese writers set about a systematic approach to gathering information about the peoples beyond the deserts and mountain ranges that protect China’s interior, assessing their markets, leading strengths and weaknesses,” writes Peter Frankopan, author of The Silk Roads: A New History of the World. “That found parallels in the works of authors such as Herodotus, whose attention likewise was on the land bridge that connects east and west.”
Read more: Investing in a new Silk Road | ‘ Ace Press Releases & Live Reportshttps://acenewsgroup.wordpress.com/2016/08/07/investing-in-a-new-silk-road/
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