BRI and Xi’s New Concepts of Development
Most recently, while interacting with the national and international media، the new Chinese Foreign Minister Qin Gang termed Chinese Belt & Road Initiative (BRI) as pragmatic, positive, productive and participatory which would be instrumental to achieve desired goals of progress, prosperity and greater regional connectivity.
Moreover, during Two Sessions, the Chinese President Xi Jinping chalked out a new roadmap for socio-economic development and pinpointed persuasions of qualitative development, modernization, opening-up, structural reforms, people’s centric policies and last but not the least, further development of private sector as prerequisites of future socio-economic integration, economic sustainability and political stability.
Even Xi’s milestone Global Civilization Initiative (GCI) the extension of Global Development Initiative (GDI), Global Security Initiative (GSI) and shared prosperity have further enhanced the strategic importance of BRI and China- Pakistan Economic Corridor (CPEC) in the days to come. Both are engine of regional as well as global economic development and socio-economic integration, mitigating spillover repercussions of prevailing recession and price hike in the world.
Hopefully, the Chinese President Xi Jinping’s new development paradigm would further enhance Chinese regional as well as global connectivity in terms of BRI, CPEC, economic stability and sustainability during 2023 and beyond. It would be a first giant step towards achieving the desired goals of building a great modern socialist country and advancing the rejuvenation of the Chinese nation.
It would be a new development philosophy to accelerate efforts to create a new pattern of development which would be holistic, comprehensive, positive, productive, participatory and people’s friendly. It would demolish the walls of destruction and promote spirits of dialogue, diplomacy and development in the world.
Moreover, implementation of the strategy for invigorating China through science and education, the workforce development strategy and the innovation-driven development strategy would further diversify its macro-economy, systematize its massive modernization drive and provide new impetus to its private sector in the days to come which would be complimentary to the further growth of BRI and CPEC in the days to come.
Definitely, it would be beneficial to achieve greater self-reliance and strength in science and technology, promote industrial transformation and upgrading, advance coordinated urban-rural and regional development and foster green and low-carbon economic and social development. In this regard, the Chinese green persuasions of BRI and CPEC would be further accelerated around the globe. Additionally, the new development paradigm of China would be effective to further speed up the spirit of shared future for humanity. The new development integrated philosophy would advance high-standard of opening-up which would create win-win proposition for global markets, countries and communities alike.
It would foster its role in the global governance system and accelerate its Global Development Initiative and the Global Security Initiative. People-centered philosophy of development is the way forward which would benefit all people fairly through sustainable socio-economic development, protection of basic human rights along substantive progress for all.
The Chinese Government Work Report 2023 has highlighted the importance of the private sector and private businesses in growing and expanding, and support micro, small and medium-sized enterprises and self-employed individuals in business development. It has certain micro & macro-economic policies to further opening-up to address and revive the Chinese economy during the coming period in the light of the travel ban and the closure of the borders of China and the world to control the “Covid-19” pandemic.
Manufacturing sector would be further supported which constitutes about a third of the Chinese economy. The delegates of 14th National People’s Congress (NPC) have taken keen steps to speed up mechanisms, programs and plans for implementing a comprehensive national reform package in the sectors of the economy, market, governance, health and others aimed at strengthening policy, governance and institutional systems through the system of giving loans, activating the system and tool for financing projects and eliminating unemployment and poverty in the country which would also be useful for further development of the BRI during 2023 and beyond.
It has also decided to eradicate poverty by strengthening the relationship between poverty alleviation and rural revitalization, comprehensive encouragement to develop rural industries, talents, culture and the environment in the countryside as a guarantee to encourage the poor to integrate into society and combat unemployment. Furthermore, helping small and micro companies, reducing taxes and fees and promoting employment of key groups such as university graduates, migrant workers and people with work difficulties have also positive impacts on its qualitative development having direct correlation with BRI and CPEC.
To conclude, the Chinese President Xi Jinping’s numerous proposals have further brightened the scope, importance, utility and strategic strength of Belt & Road Initiative in the region and beyond. In this regard, rigorous implementation of green policies, plans and projects in the ongoing projects of the BRI & CPEC would be beneficial. The Health Silk Initiative, as an extension of the Chinese BRI would be a value addition to China and its member-countries of BRI during 2023 and beyond. Moreover, brighter prospects of its tourism, entertainment, real estate, hospitality, e-commerce and last but not the least health industries would be a point of attraction for the regional as well as international multinational companies to invest in China and its member-countries of the BRI.
The BRI flagship project CPEC has drastically increased exports of sesame seed by 50%, seafood by 40% and rice to China crossed the figure of one million tons during 2022. Overall Pakistan’s exports to China have surpassed by over 35% from 2013 to 2021. Moreover, CPEC has created over 125,000 new jobs, 6000 MW of electricity and over 510 KMs roads which has further reduced rural-urban disparity and enhanced provincial, regional and national connectivity.
Last but not the least, China released a set of opinions to push green infrastructure development in its BRI grand strategy to fund infrastructure projects in its member countries. Under its “Opinions on Jointly Promoting Green Development of the Belt and Road,” China pledged to develop green capabilities of overseas enterprises and encourage domestic renewable energy companies to go global which should be implemented as soon as possible.