The Belt and Road Initiative (BRI) has been a cornerstone of global economic development over the past decade, connecting nations through roads, rails, ports, and digital networks. As the initiative marks ten years of progress, it is evolving into a new phase focused on enhancing regional integration and empowering developing countries in their quest for industrialization.
Charles Liu, founder of Impact Asia Innovation Capital, explains that BRI has transitioned from its initial phase of building physical infrastructure to what he describes as BRI 2.0. This new era emphasizes collaborative efforts to foster economic growth and industrial capabilities in emerging markets, enabling these regions to achieve sustainable development and greater self-reliance.
The shift from BRI 1.0 to 2.0 signifies a strategic move towards more inclusive and sustainable growth, ensuring that the benefits of the initiative are more widely shared among participating nations. By prioritizing regional integration and industrial empowerment, the BRI aims to create a more resilient and interconnected global economy.
Reference(s):
Beyond infrastructure — an investor's perspective on the BRI
cgtn.com
