Chinas One Belt, One Road initiative is the largest plan of foreign investment the world has ever seen.
By Sazzad Haider.
Chinese President Xi Jinping formally kicked off the newest implementation phase of the One Belt One Road initiative during the grand gathering of world leaders in May in Beijing. Representatives from 68 countries from five continents, including 28 heads of state, participated in the conference at the Belt and Road Forum for International Cooperation. Worth $5 trillion U.S., the One Belt One Road initiative (OBOR)which China is officially trying to rechristen as the Belt and Road Initiative (BRI) in Englishis the Chinese leaders most visionary project leading up to the celebrations of the 100th anniversary of the Chinese revolution in 2049 and a bid to make China the worlds number-one economic powerhouse. In 2013, Xi adopted the concept of OBOR as one of the greatest investment projects in the history of the planet. After the Second World War, the U.S.A. launched the Marshall Plan for the reconstruction of Western Europe, investing the equivalent to $130 billion in todays dollars. For One Belt One Road, China has already invested $1 trillion, and several trillion more is due to be spent over the next decade.
The creation of OBOR has the basic objective of gaining both political and economic supremacy over western countries for China. Following the countrys revolution, Chinas leadership strongly denounced Western capitalism and vowed to fight against U.S.-led imperialism and expansionism. Mao Zedong, founder of modern China, set the stages for China to rival Americas leadership. He introduced and developed the three-world theory. According to this theory, still in common usage, the First World is comprised of U.S.-led Western countries; the Second World consisted, until its collapse, of the Soviet Union and its allies; and together all the countries of Asia, except Japan, along with all of Africa and Latin America makes up the Third World. Mao Zedong intended to be the pathfinder for the Third World countries in a struggle against Western exploitation. Since the foundation of the new China, the Chinese leadership has …
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