China’s global infrastructure efforts deepen ties with Africa and beyond
The changes surrounding the Belt and Road Initiative (BRI) kept countries around the world excited as they looked at the BRI as a way to not only strengthen infrastructure but also enhance economic cooperation and connectivity at the global level.
In the past, the BRI was mainly concerned with the overland routes that connect China to Europe and various parts of Asia, however, it has now broadened its horizons to also cover maritime routes, energy corridors, digital connectivity projects, and trade networks that extend through the Middle East, Africa, and other regions of the world.
More than 150 countries and 30 plus large international enterprises have inked cooperation deals with China under the BRI, with most of these partners coming from Africa, the Arab world, and other regions of the global south. The massive participation is a clear indicator of the extent and the ambitiousness of the initiative.
What the partner countries can expect from the BRI involvement are dollar inflows in infrastructure projects, trade accelerations, the logistics sector advancements, and industrial and digital developments. Africa will benefit out of this from the likes of well-paved roads, modernization of energy and port infrastructure, and export opportunities.
Still, the expansion of the BRI globally is apprehended by certain quarters. They argue that it is fraught with the dangers of, among others, excessive dependence, the risk of environmental pollution and the possible debt crises. The questions on how fairly the wins will be distributed linger on, since there is constant worry that some countries may exhaust their resources in order to meet the costs of these projects only to later seek debt relief.
On the other hand, supporters maintain that BRI is still essential in achieving the goal of connectivity between the less-favored areas in the world and in the overhauling of outdated infrastructure as well as the formation of trade corridors that will eventually result in the redeployment of global commerce and supply chains. It might just be the case for African and Middle Eastern developing countries that the initiative represents such an uncommon possibility of rapid development which is hardly attainable given that their resources are scarce.
In the wake of the BRI gathering momentum, it would be the next years to reveal whether the investments will be the prime mover of mutual growth or it will deepen the divisions further. For the time being, Beijing’s vigorous drive for global infrastructure is one of the major economic stories that not only determine global geopolitics but also development.