Michael Sobolik, Senior Fellow at the American Foreign Policy Council, stated that the Belt and Road Initiative (BRI) is China's strategy to shift the global economy from the West towards the East. Sobolik shared his statement on the Federal Newswire's China Desk Podcast on May 20.
"The BRI is Xi Jinping's pet foreign policy project," said Sobolik. "It essentially is his gambit to shift the economic and strategic orientation of the whole world away from Washington and the West, toward Beijing in the East."
The BRI is a plan to build two new trade routes to China, aimed at expanding its global market, according to Chatham House. China plans to grow its economy domestically while also partnering with other nations to build economic interdependence. The country is investing in infrastructure projects across Asia, Africa, and Europe.
After the pandemic, when China's funding for the BRI decreased, it entered a "second phase," according to Sobolik. "They're now militarizing the Belt and Road," he said on the China Desk podcast.
Geopolitically, the BRI serves China's goals of asserting itself on the global stage and reshaping trade dynamics in its favor, according to the Council on Foreign Relations. Currently, 147 countries are participating or expressing interest in the project, with estimated expenses reaching trillions of dollars. However, challenges including debt burdens for participating nations, concerns about environmental impact, and geopolitical tensions have led to skepticism and alternative initiatives like the United States' Build Back Better World Initiative.
Sobolik is a senior fellow in Indo-Pacific studies at the American Foreign Policy Council, according to Federal Newswire. He is also the host of the Great Power podcast and author of "Countering China's Great Game: A Strategy for American Dominance."