Belt and Road, economies reach 13.4% of global trade

10/05/2019

 

The report focused on 41 countries participating in the initiative to evaluate and analyze trade

 

The Belt and Road Initiative is showing its effects on the global economy. By the end of 2017, in fact, according to the BRITT report, the volume of trade between countries and regions involved in the Belt and Road initiative represented 13.4% of global trade volume and 65% of the volume of trade in the Union European.

41 countries participating in the initiative were analyzed in the report. The aim was to evaluate and analyze the trade, investment development and future trends of these countries from four dimensions: scale, facilitation, risks and potential over the period 2012-2017.

 

127 countries and 29 international organizations have joined the initiative

 

Trade between these countries and the regions involved in the BRI was the second largest volume in the world and, as Hong Junjie, a professor at the University of International Economics and Business said, “in the future, these countries and regions expect to become new bright points of global economic and commercial growth “.

Currently, 127 countries and 29 international organizations have joined the initiative, through which China has invested over $ 90 billion. From the initiative proposed by China in 2013, the commercial ties between these countries and regions increased with the commercial commitment that reached 55.2% in 2017, according to the BRTII report.

The main trade of this new global economic network is material goods, which represent 61% of total trade between these countries and regions in 2017. Furthermore, China’s huge market demand promotes the commercial growth of the countries and regions involved in the BRI. In 2017, according to data from the report, China has in fact imported intermediate goods worth $ 943.12 billion, with $ 302.31 billion from these countries and regions.

 

China is the largest country in which to invest in the countries and regions involved in the BIS

 

China is the largest country among the countries and regions involved in the BRI for foreign direct investment and will be the new engine to drive the sustainable growth of these countries and regions, according to the report.

However, the existing structure risks hindering development and the potential for release cooperation between these countries and regions, although the commercial and investment risks show a constant downward trend.

 

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