The Chinese BRI have entered into its 11th years during which it successfully transformed numerous landscapes in Africa, Asia, Central Asia, Latin America and the last but not least the EU further enhancing trans-regional connectivity, immense infrastructure development, railways, seaports, energy production and infusing of immense social development of robust women empowerment, eradication of extreme poverty, generation of new jobs and maintenance of ecological balance around the globe.
In terms of economic cooperation, more than 155 countries, 32 international organizations and China’s cumulative BRI engagement in the first decade has surpassed to US$ 1 trillion benchmark to reach US$ 1.053 trillion, about US$ 634 in construction contracts, and USD 419 in non-financial investments.
It seems that the BRI is the cumulative vivid reflection of the People’s Republic of China’s miraculous socio-economic development promoting spirits of global shared prosperity, economic globalization and international cooperation fostering through openness, modernization, qualitative industrialization and constructive global governance.
Additionally, the Chinese President’s Global Development, Global Security and Global Civilizational Initiatives have further consolidated pace, utility, scope, importance and collaborative mechanism of the BRI around the globe disseminating message of quick economic recovery, peaceful co-existence, multiculturalism, productivity and participation not in the Global South but also in Global North reducing the gaps of development and division of investments.
The Chinese official figures have reconfirmed stability, sustainability, diversification, modernization and strategic importance of the structural reforms in the country’s economic rise in the last 75 years starting from, 67.9 billion Yuan, over I trillion Yuan, over 10 trillion Yuan, 40 trillion Yuan, 100 trillion Yuan and 126 trillion Yuan in 1952, 1986, 2000, 2010, 2020 and 2023 respectively surpassing all the regional as well as international economies.
Thus BRI has become one of the biggest recipients of the Chinese high growth rates enabling it to make more and more investments and spreading spirits of progress, prosperity and peaceful living around the globe.
Additionally, at constant prices China’s total economic output in 2023 increased 223 times compared to 1952 with an annual average growth rate of 7.9 percent. It successfully achieved the desired goal of food security and agriculture self-reliance reaching 695.41 million tons in 2023 which was only 113.18 million tons 1949. So the BRI has become a global engine of hybrid agriculture, green transformation and last but not least food & energy security in the world.
The Chinese manufacturing capacity reached 33 trillion Yuan in 2023, remaining the world’s biggest in terms of scale for 14 consecutive years. Moreover, it has become a gravitational force in the new emerging industries, EVs, lithium batteries and green energy technologies. Services sector has become the biggest industry in the national economy which is a good omen. Therefore, the BRI has become the biggest stimulator of qualitative industrialization and modernization in the world negating all false and fake propaganda of the west.
Furthermore, in 2023 China’s output became 17 percent of the global total output. During 2013 to 2023 China’s average contribution to global economic growth exceeded 30 percent and has become the largest driving force in the world showing real strength of its economy and essence of its constant and continued structural reforms and responsive state’s rational decisions in its macro-economy. The Chinese paramount role in the global economy and industry has further consolidated the role of the BRI in the world.
Additionally, China has become the largest world’s trader in goods, 2nd largest in services trade, 2nd largest in consumer of commodities and it has the largest holders of foreign exchange reserves save guarding it from any internal or external X-factor of geopolitics or economic protectionism. Ultimately the BRI has become the real vector of regional economic integration and the global icon of quick economic recovery and shared prosperity.
Internally, in 2023, the contribution rate of final consumption expenditure was 82.5 percent further enhancing its role as main engine of growth. Rate of urbanization 13.6 percent as compared to 2012 further narrowing the gap between urban and rural development. It boosted the BRI’s role in smart living, development of domestic economies, communities and commodities in its 155 member countries.
The 18th National Congress injected continuous momentum in qualitative development. In 2023, foreign direct investment US$163.3 billion increased 176 times from 1983. So, the BRI further expansion and consolidation of its network of partnerships established 22 pilot free trade zones around the globe.
It is evident that the GDI, the GSI, and the GCI address the pressing issues of today’s world, offering viable pathways and robust support for the building of a global community of shared future.
The famous Beijing Declaration on July 23, 2024 by the 14 Palestinian factions is a lively demonstration of the Xi’s GSI’s function in practice which has been sabotaged by the forces of capitalism and imperialism and humanity is badly suffering.
In summary, the ongoing “small but beautiful” in Africa achieving miracles of immense crop cultivation and maize growth and combating the region’s hunger issue, to clean energy projects that provide affordable new energy.
It seems that Xi’s three global initiatives are pursuing development, promoting shared growth, and helping accelerate the implementation of the UN 2030 Agenda for Sustainable Development.
China achieved the goal of eradicating absolute poverty 10 years ahead of the United Nations’ 2030 Sustainable Development Agenda, making significant contributions to global poverty alleviation efforts.
According to China’s Foreign Ministry, over the last three years, the GDI has made remarkable achievements. Over 100 countries and some international organizations have given support to or taken part in the initiative. More than 80 countries have joined the Group of Friends of the GDI. China has set up a Global Development and South-South Cooperation Fund, which has financed over 150 programs. The Global Development Promotion Center Network is bringing more members on board.
It is obvious that Xi’s global initiatives have deepened the pace of development, prosperity and enhanced dialogue of civilization exchanges and promoted the progress of human civilization through inclusiveness and mutual learning, contributing Chinese wisdom and solutions to promote a higher level of international cooperation negating the western narrative of racial or economic superiority and showcase the vision of equality and equity built on respect for diversity and cultures.
