Editor’s note: Since its inception in 2013, the Belt and Road Initiative (BRI) has transformed ideas into actions, from a vision into reality, and from a general framework into concrete projects. Evaluating the BRI’s accomplishments over the last decade raises questions. How has the BRI advanced policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and closer people-to-people ties? “BRI: A Road for the Common Good” is a five-part series that delves into the BRI’s achievements of the past decade. The first essay explores policy coordination.
The Belt and Road Initiative (BRI), proposed by China in 2013, stands as a landmark development strategy aiming to foster common prosperity worldwide. Unlike traditional alliances formed on the basis of political, economic, cultural, or ideological similarities, the BRI distinguishes itself through its inclusive approach, bringing together diverse nations under a shared vision of cooperation and development.
The recently issued white paper titled “The Belt and Road Initiative: A Key Pillar of the Global Community of Shared Future” highlights that “policy coordination underpins BRI cooperation. Plans and measures for regional cooperation have been formulated through joint efforts to facilitate and speed up cooperation, making the BRI an important collaborative framework for international exchanges.”
Policy coordination emphasizes the active participation of all involved parties and synchronization with the development strategies of relevant countries and regions. This principle aligns with the United Nations Charter, promoting international cooperation based on mutual respect and shared benefits.
Bridging Regions Through Policy Coordination
A notable example of the BRI’s success in policy coordination is evident in West Asia. In December 2022, at the China-Gulf Cooperation Council (GCC) Summit in Riyadh, Chinese President Xi Jinping outlined comprehensive economic, financial, and cultural initiatives designed to enhance cooperation with GCC countries. The five priority areas for cooperation presented by President Xi included long-term trade in oil and gas using local currencies, infrastructure projects extending to nuclear power and space technology, advancements in telecommunications and artificial intelligence, digitalization efforts, industrial projects, and transportation infrastructure development.
China’s commitment to intensifying exchanges in education, culture, and language with GCC countries further underscores the depth of policy coordination. This cooperative framework not only strengthens bilateral relations but also fosters mutual understanding and shared growth.
The positive outcomes of this coordinated approach were further demonstrated in March 2023 when the normalization of relations between Saudi Arabia and Iran was brokered, highlighting the BRI’s role in promoting regional stability and cooperation.
Extending Cooperation to Central Asia
The BRI’s influence extends to Central Asia, where leaders participated in the historic China-Central Asia Summit held in Xi’an, northwest China’s Shaanxi Province, in May 2023. Central Asian nations have aligned their national development plans with the BRI, resulting in significant growth in trade with China and the implementation of numerous infrastructural and agro-industrial projects. This collaboration has become integral to the region’s development, showcasing the BRI’s capacity to facilitate large-scale policy coordination and economic integration.
A Catalyst for Global Growth
These examples demonstrate how the BRI has established a platform for policy coordination among partner countries, providing substantial developmental opportunities and fostering common prosperity. Over the past decade, the BRI has acted as a catalyst for global economic growth and offered feasible solutions for improving global governance. By emphasizing inclusive cooperation and shared benefits, the BRI continues to pave the way toward a more interconnected and prosperous world.
Reference(s):
cgtn.com
