One Belt One Road
One of the main initiatives driving economic development in the Asian Region is the ‘One Belt One Road’ initiative proposed by China in 2015, which presents us with research opportunities into the economic feasibility of, and the trade opportunities presented by the new Silk Road development initiative. The Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known “One Belt, One Road” (OBOR) is a development strategy and framework, proposed by the People’s Republic of China that focuses on connectivity and cooperation among countries primarily in the Eurasia region. The OBOR consists of two main components, the land-based “Silk Road Economic Belt” (SREB) and oceangoing “Maritime Silk Road” (MSR). The strategy underlines China’s push to take a bigger role in global affairs, and also coincides with significant infrastructure development plans such as the China Europe Corridor road and rail infrastructure development.
We expect there to be significant increases in trade, communication and collaboration in the region, in part as a result of these initiatives, and growing cluster developments across the Asia Region are likely to result.