1.11. OBOR/BRI
♤ 6 September 2013, Astana, Xi Jinping’s Speech-Land based silk road economic belt
♤ In October 2013, his soeech at the Indonesian parliament spelled out the idea of Maritime silkroute.
♤ These two ideas combined to form the ambitious One Belt One Road (OBOR) also know as the Belt and Road Initiative (BRI)o On improving connectivity and cooperation among Asian countries, Africa, China and Europe.♤ It will impact 4.4 billion people.♤ China claims these economic corridors will not only build infrastructure in countries that cannot afford to do it themselves but also boost global trade.♤ Audit firm PwC estimates that currently about US$ 250 billion worth of projects are either underway or signed off.of the project. Thus, it is also seen as a unilateral and exploitative project that involves strategic footholds in important locations around the world♤ The investment: the investment estimates for project of such a magnitude are touted to be in excess of US$ 5 trillion, whereas current Chinese commitment stands at estimated US$ 1 trillion♤ India is the only South-Asian country, apart from Bhutan, not to be involved in the Asian♤ Citing sovereignty issues, India has raised objections over CPEC projects in Pakistan- occupied Kashmir (PoK).♤ Recognizing the significance of connectivity and infrastructure India is putting forward alternatives such as the INSTC, Cahabahar corridor and the Asia-Africa growth corridor