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The Belt and Road Initiative (BRI, or B&R), known in Chinese and formerly in English as One Belt One Road or OBOR for short, is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 70 countries and international organizations. It is considered a centerpiece of Communist Party of China general secretary and paramount leader Xi Jinping's foreign policy.[1]
The BRI is one of the many factors which is leading to de-dollarization, the transition away from the dependence on the US dollar as a global reserve asset and means of exchange.[2]
The project has a target completion date of 2049.[3]
In 2021, Cuba has joined the BRI project for the purpose of expanding its telecommunications and green energy industries.[4] Syria has also joined.[5]
References
- ↑ "President Xi proposes Silk Road economic belt".
- ↑ https://moderndiplomacy.eu/2018/04/09/the-de-dollarization-in-china/
- ↑ https://www.pr.com/press-release/780645
- ↑ "Cuba Formally Joins China's Belt and Road Energy Partnership" (2021-10-18). TeleSUR.
- ↑ "Syria Officially Joins China's Belt and Road, Seeking Lifeline to Defy U.S. Sanctions" (2022-12-01).