Journal article Open Access

Future Impact of the New Silk Road

Hrant Abajyan; Huang Dechun

The Chinese New Silk Road was developed and launched by President Xi Jinping in 2013. China designed the road with the aim of consolidating its role as an international power and also to address external and internal challenges that it faced. The road also referred to as the one belt, one road had the sole purpose of not only fostering trade with other countries but strengthening economic relations between China and its trade partners which included Europe and the Middle East. The Silk Road would integrate the markets and incorporate a variety of infrastructures such as airports, seaports, pipelines, and railways in the participating regions in Europe, Asia, and some parts of Africa. The road is one of the essential pieces of infrastructure, and its effects are bound to be significant economically and politically. There are also implications in regards to security of the countries involved.

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