SOCIAL, ECONOMIC, AND ENVIRONMENTAL IMPACTS OF THE ONE BELT ONE ROAD INITIATIVES
Abstract
The One Belt One Road Initiative (OBOR) by China presents a grand vision to the world that aims to foster cooperation among different countries in various fields such as global trade, international relations, infrastructure development, education, and technology. Also known as the Belt and Road Initiative (BRI), it comprises a network of roads, railways, and sea routes, all geared toward the development of humanity. The purpose of this research is to analyze some of the significant impacts of this massive project in terms of social, economic, and environmental aspects. Through the exchange of culture, sports, education, and international relations on six economic corridors, the BRI has the potential to create substantial economic benefits. The project also prioritizes environmental sustainability through a green BRI approach. All the quantitative and qualitative data are extracted from different research papers/reports, published books, and some online based data portals. It has been shown that the OBOR/BRI seeks to connect the world and foster peace, whilst its implementation may face significant challenges. Nonetheless, it presents new opportunities for people and may usher in a new era of globalization.
JEL Classification Codes: D86, F18, F35, F63, K3.
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