With $900bn of planned investments ranging from ports in Pakistan and Sri Lanka to high-speed railways in east Africa to gas pipelines crossing central Asia, China’s One Belt, One Road project (Obor) is arguably the largest overseas investment drive ever launched by a single country.
The initiative — motivated by concerns about slowing domestic growth and a desire to boost China’s global influence — has the potential to help solve a global infrastructure gap, advocates say. It could also aid growth in developing countries while boosting trade and generating investor returns.
Obor began as a plan for trade-boosting infrastructure projects along two routes — one roughly following the ancient Silk Road from China through central Asia and the Middle East to Europe, and the other linking China to Southeast Asia and east Africa by sea.