Ten years ago, on September 7, 2013, Chinese President Xi Jinping unveiled his ambitious foreign policy plan: connecting Europe and Asia through an economic corridor. This marked the birth of China’s grand strategy, initially known as the Silk Road Economic Belt, later renamed the Belt and Road Initiative (BRI).
The vision was founded on a straightforward concept: developing infrastructure fosters connections between people and, under specific conditions, contributes to global peace and prosperity. Over the years, the plan has grown in ambition. New countries from Africa, the Pacific, and Latin America became involved. Chinese companies engaged in significant development projects and emerged as new investors in strategic infrastructure worldwide. The BRI has even been incorporated into the CCP’s constitution, solidifying its status as a fundamental element of China’s foreign policy program. Within the BRI framework, numerous projects have been executed, primarily in neighboring countries to China.
The heightened ambitions were met with political reactions, with many viewing it as China’s covert attempt to challenge Western dominance. As some infrastructure projects encountered difficulties, China was accused of practicing “debt-trap diplomacy” – extending loans and credit to gain influence or control over debtor countries. The United States has been the primary critic of the BRI, and other nations have grown increasingly wary of China’s diplomatic initiatives.
Over the past decade, the BRI has enabled China to strengthen its relationships with various countries and regions. According to official statistics, as of today, 154 countries have signed official agreements for BRI cooperation with China. Until last year, investments exceeding 15 billion dollars were made under the BRI, with 4,357 infrastructure-related agreements signed. However, its impact has been somewhat limited. The initial momentum was disrupted by the COVID-19 pandemic. Currently, the program is undergoing a redesign. Nevertheless, the 10th anniversary of the BRI demonstrates that Beijing remains committed and continues to invest significant political capital in it.
1: When Xi Jinping unveiled the Silk Road Economic Belt in 2013, many regarded it as a global vision of the Chinese president. Over the past decade, the Belt and Road Initiative has evolved into a grand strategy for China, challenging Western dominance in the global order.
2: The original aim of the Initiative is to unite Europe, Asia, and Africa into a vast economic and trade bloc, primarily based on the concept of “Eurasia.”
3: Connectivity is the key: According to Xi’s plan, the pillars of the BRI include policy coordination, infrastructure connectivity, trade, financial integration, and people-to-people relationships.
4: As of today, 154 countries have signed official agreements for BRI cooperation with China. Up until last year, investments exceeding 15 billion dollars were made within the framework of the BRI, and 4,357 infrastructure-related agreements were signed.
5: China has learned bitter lessons in Central and Eastern Europe. Hungary remains a friendly nation, with the Belgrade-Budapest railway project being the last remaining BRI-based project connecting to the European Union.
Written by Viktor Buzna.