Globalization: One Belt One Road Initiative (OBOR)

June 20, 2018

There are varied opinions regarding the One Belt One Road (OBOR) initiative. But at the end of the day, I believe creating a clean path to trade is only a positive outcome for the consumer and the business partners involved.

 

The OBOR initiative will be a trade channel over land and sea from China across Asia, the Middle East and continuing across Europe as a modern-day Silk Road. The path is not final as it requires many countries and their governments to agree to participate.

 

gpi_one belt one road_homeThe initiative will be heavily financed by China in many locations, which will include Chinese cultural centers and schools to bring awareness of China's culture and beliefs. The effort is projected to cost over $1 trillion, but I expect this will be a conservative number when all is said and done.

 

While first announced in 2013, the initiative is still a long way from completion as many details have to be worked out among the many governments involved. It is not expected to be completed until 2049. This is quite a long time out, but for a country like China they are comfortable with long range planning and seeing the prize in the big picture.

 

There will certainly be countries not participating or that do not want to work with China directly. For instance, China is directing the path around India who has conflicting interests with China. But in such cases, they can develop their own pathways with other countries and perhaps merge their pathway into the overall path.

 

While the completion is targeted for 2049, the actual work has already begun in some places. Pakistan is on board and working with China as they have established a segment of their portion of the land passageway.

 

Western countries may view the expansion of China across Asia to Western Europe as competition for global influence. But it's the same thing the U.S. and Western European countries have done over the past couple of centuries. The open channels should only help build common interests to secure free trade among all countries involved and minimize political and military conflicts. In theory, the common interest may help save on collective military budgets to help pay for the initiative.

Further Resources on Global Business

 

Globalization Partners International (GPI) has extensive experience localizing marketing materials, technical documents, and large, scalable websites. We have previously posted a number of useful guides for best practices in this area. Feel free to review our blogs that are particularly relevant:

 

 

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Sources:

https://thediplomat.com/2017/12/one-belt-one-road-and-one-big-competition/

https://www.washingtontimes.com/news/2018/apr/3/chinas-one-belt-one-road-investment-rebuild-silk-r/

Category:
Country Specific
Tags:
one belt one road, OBOR, Silk Road Economic Belt, Globalization

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Peter has over 20 years’ experience in business development within the localization industry supporting clients for documentation, software and website globalization services. He started his career in the translation industry in 1995 and over the years has worked for several leading localization service providers including LMI, Berlitz, Welocalize, GPI and Beyondsoft. Throughout his career Peter has led by example and always put his clients’ needs first to ensure client expectations are understood and successfully met. Over the years Peter has trained extensively in Solution Selling, Action Selling and Localization Sales, Testing and Project Management. Peter handles many of GPI’s global accounts helping educate clients on GPI’s comprehensive suite of globalization services and industry best practices.