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BRI: A Vision to Reshape Regional Partnerships

The Belt and Road initiative, popularly known as BRI, as envisioned by Chinese President XI Jinping, will be a remedy for all the economic woes of the regional nations and will subsequently bolster cultural and social ties among them. The threats of economic globalization and protectionism along with the failure of neo-liberal economic institutions raised the need for such initiative. BRI is widely termed as a great innovative venture which will bring development to the region. It is pertinent to notify that it will also eradicate terrorism and extremism by raising the standards of living of the nations of different regions.

United Nations Security Council also acknowledged the vision of President Xi Jinping by incorporating the OBOR in one of its resolutions. Geopolitical issues and the problems faced by the countries of the world because of fragile economic systems have made OBOR (One Belt One Road) initiative more relevant in recent times.

Belt and Road will have the same economic impact as the ancient Silk Road had in the past in transforming the lives of different nations of the world. Eurasia was a significant point to establish the cultural, economic, intellectual, and social ties among different peoples of the world. The economic disparity between south and north is no secret. The real test of OBOR will be in filling the void between south and north. Hence, its scope is not limited to not only economic progress but also other spheres of life.

People of Pakistan being the major beneficiary of this multi-dollar project as the major portion of this project is CPEC. Under the umbrella of CPEC, China is helping Pakistan recover its crippled economy by investing 62 billion dollars. This investment has no precedent in the history of China-Pakistan relations. It is pertinent to know that most infrastructure and energy projects of CPEC are into their last phase. Besides, groundwork on the establishment of Special Economic Zones has also been done. Besides, Pakistan’s PM Imran Khan is all praise for the Chinese President’s actions against corrupt elements. PM Khan is very keen to eradicate corruption from Pakistan. In this way, both China and Pakistan are sharing the same path which will strengthen their bond. Their cultural and intellectual history of 2500 years is no secret.┬áTaxila at that time was the center of Buddhism and was also home to the world’s first Buddist university. In all this, one can hope for amicable cooperation between the two in the future.

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