Under downward pressure, the global economy today faces the impacts of trade and tariff barriers resulting from great power competition. This year marks the 10th anniversary of the Belt and Road Initiative (BRI), a China-proposed initiative that aims to boost connectivity along and beyond the ancient Silk Road routes. The project plays a notable role in driving the economic development of participating countries and globalization at large.
The BRI has improved economic connectivity and infrastructure in the participating countries. The BRI has also propelled these countries to draw up unified rules and standards, as well as improved people-to-people exchanges.
