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The missing link of the “New Silk Highway” is set to finally be completed. Construction has begun on a new highway that will stretch from Russia’s border with Kazakhstan to Belarus, serving as a critical part of the China-Western Europe transport corridor—an infrastructure mega-project that has been described as the “construction of the century.”
Authorities in Russia’s Samara Region are ready to begin construction of a 4km-long (2.5 miles) bridge across the Volga; it is the first part of an ambitious international traffic corridor linking Europe with Western China.
The bridge will cost $1.8 billion, according to the latest version of the construction agreement.
Once completed, the China-Western Europe transport corridor is meant to be the primary nervous system of the Silk Road Economic Belt, the overland portion of China's Belt and Road initiative. The corridor begins at the Chinese port of Lianyungang on the Yellow Sea and stretches along the Lianhuo Expressway, China’s longest road, to the Khorgos dry port on the border of Kazakhstan before moving through Russia en route to Western Europe. The corridor is meant to eventually combine road, rail and air transport hubs into a multi-modal ecosystem which could revolutionize the economic role of the central stretches of Eurasia and alter our paradigms of how goods are shipped between China and Europe. Ideally, this highway would allow trucks to travel between China and Europe in just eleven days, as opposed to 30-50 days by sea and 15 days by rail, making it the fastest overland option of the New Silk Road.
In 2013, Chinese President Xi Jinping announced the launch of both the Silk Road Economic Belt and the 21st Century Maritime Silk Road, infrastructure development and investment initiatives that would stretch from East Asia to Europe. The project, eventually termed the Belt and Road Initiative (BRI) but sometimes known as the New Silk Road, is one of the most ambitious infrastructure projects ever conceived. It harkens back to the original Silk Road, which connected Europe to Asia centuries ago, enriching traders from the Atlantic to the Pacific.
Beijing’s multibillion dollar Belt and Road Initiative (BRI) has been called a Chinese Marshall Plan, a state-backed campaign for global dominance, a stimulus package for a slowing economy, and a massive marketing campaign for something that was already happening – Chinese investment around the world.
President Xi announced the initiative during official visits to Kazakhstan and Indonesia in 2013. The plan was two-pronged: the overland Silk Road Economic Belt and the Maritime Silk Road. The two were collectively referred to first as the One Belt, One Road initiative but eventually became the Belt and Road Initiative.
Xi’s vision included creating a vast network of railways, energy pipelines, highways, and streamlined border crossings, both westward—through the mountainous former Soviet republics—and southward, to Pakistan, India, and the rest of Southeast Asia. Such a network would expand the international use of Chinese currency, the renminbi, while new infrastructure could “break the bottleneck in Asian connectivity,” according to Xi. The Asian Development Bank estimates that the region faces a yearly infrastructure financing shortfall of nearly $800 billion.In addition to physical infrastructure, China plans to build fifty special economic zones, modeled after the Shenzhen Special Economic Zone, which China launched in 1980 during its economic reforms under leader Deng Xiaoping.
For the full transcript go to https://financearmageddon.blogspot.com
life facebook Russia to build a Bridge linking Europe & Western China | Belt & Road Breakthrough | |
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| Education | Upload TimePublished on 28 Aug 2019 |
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