Belt And Go

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Originally known as the One Belt, One Road initiative, the Belt and Road Initiative (BRI) is an ambitious plan to create new trade routes. It is China's attempt to boost its economic power and strengthen its geopolitical influence. The initiative is meant to strengthen China's economic relationship with other nations while creating more secure trade routes. However, it is criticized by many countries and western commentators for its lack of transparency, lack of private sector participation and predatory nature. The US has labeled the BRI as "debt trap diplomacy", which accuses China of funding major infrastructure projects in developing nations with unsustainable loans.

The Chinese government has allocated a large budget for the Belt and Road Initiative. It is seen as part of the Chinese government's efforts to stimulate central provinces that historically have lagped behind richer coastal regions. The Chinese government also encourages businesses to bid for Belt and Road contracts. However, the private sector is less enthusiastic about the Initiative due to the lack of return on investment.

In August, Greece announced it would join the BRI. Its port of Piraeus is Europe's seventh largest harbour and China's shipping firm, Cosco, has bought a majority stake. During the 2008 financial crisis, Greece suffered a prolonged economic crisis that made it difficult for Greece to develop its relations with the EU.

The Chinese government views the Belt and Road as a vital part of its efforts to secure borders on the Asian mainland. It also sees it as a way to promote 'periphery diplomacy'. This strategy includes controlling choke points in the Indian Ocean. It also includes reestablishing ancient overland trading routes, which are referred to as the Silk Road Economic Belt. The Silk Road Economic Belt links China with central Asia, east Africa and south east Asia.

The Belt and Road Initiative was announced by Chinese president Xi Jinping in 2013. The initiative includes three primary goals. These include creating new trade routes, boosting Chinese economic power and establishing a high technology economy. However, China's government is unable to provide a complete list of the projects being planned. This lack of transparency makes it difficult to assess its success. It also feeds a general mistrust of the initiative.

The Chinese government has allocated a budget for the Belt and Road Initiative generously. It is not clear which government authority is responsible for funding these projects. It has also been difficult for governments receiving Chinese loans to determine which authority to deal with. Several countries are unable to find out how much money the Chinese government is committing to these projects.

While the Belt and Road initiative is relatively new, it has been criticized for lack of transparency. The Chinese government has never publicly provided details on how much money is being pledged to these projects. Some analysts have called the Belt and Road Initiative a "string of pearls strategy", referring to China's efforts to control choke points in the Indian Ocean.