BRI: China’s Vision for a Shared Future

China has made significant progress in its approach to building a global community of shared future. The concept has evolved into practical policies and initiatives that demonstrate China’s understanding of the importance of global cooperation. Today, our world is grappling with numerous unprecedented crises and challenges such as a faltering economic recovery, a widening development gap, ongoing conflicts, escalating geopolitical tensions, and setbacks in global development. Disturbingly, over 800 million people worldwide still suffer from hunger, 700 million lack access to electricity, 200 million are unemployed, and 100 million are refugees and displaced persons. These daunting issues can only be overcome through solidarity and collective efforts.

The vision of building a global community of shared future proposed by China is serving as a rallying call for unity, pooling strength for cooperation, and illuminating a path forward. It offers proposals to address the world’s security deficit and provides a powerful impetus for resolving the global development dilemma. China’s economy is now deeply intertwined with the world economy across all sectors. It has become the primary trading partner of over 140 countries and regions, contributing to over 30 percent of global growth on average from 2013 to 2021. The vision of building a global community of shared future aims to foster shared prosperity and promote the common development of all nations. China remains committed to win-win cooperation, advancing high-quality development and high-standard opening up, and ensuring the stability and smoothness of global industrial and supply chains.

China has proposed several initiatives to promote construction of a global community of shared future, including the Belt and Road Initiative (BRI). The BRI aims to foster economic development and connectivity among countries along the ancient Silk Road routes. Additionally, the Asian Infrastructure Investment Bank, a multilateral financial institution initiated by China, and its proposal for a Free Trade Area for the Asia-Pacific aim to promote regional economic integration, free trade, and infrastructure development in Asia. The BRI, in particular, has yielded positive outcomes for many nations around the world. It has facilitated mutual relationships, fostered infrastructure development on different continents, and contributed to economic growth and job opportunities in participating countries.

As a BRI scholar who has spent nearly six months in China, I have come to appreciate China’s approach and commitment to fostering a shared future with the rest of the world. During my stay, I have gained a deeper understanding of the significance of people-to-people exchange. The BRI has reshaped the global economic and political order, as evidenced by the participation of 151 countries and 32 international organizations in the initiative. It is crucial for India to comprehend the advantages of the BRI for its own benefit. China can actively contribute to boosting the world’s economy and take the lead in developing countries. China’s approach to India’s growth has consistently been positive, even if the Indian government has at times failed to fully realize it. In today’s interconnected world, countries are more interdependent than ever before. Rather than fueling suspicions, China has been promoting the BRI as a roadmap for building a community with a shared future for humanity, which should be considered an opportunity.

If India decides to join the BRI, Chinese products will enter the Indian market and potentially have an impact on India’s domestic industries. However, if India chooses not to participate, it may lose out on the market opportunities offered by BRI countries. I believe India should consider joining the BRI, as one should not sacrifice long-term benefits for immediate gains.

Participation in the BRI can accelerate India’s industrial growth and provide financial support for its domestic infrastructure projects. The economic benefits for India could be particularly significant in its northeastern region, which has historically been neglected. The Bangladesh-China-India-Myanmar Economic Corridor would bring substantial infrastructure development to northeastern India and facilitate better trade relations with Central Asian countries through enhanced connectivity.

The author is an entrepreneur based in Chamba, India.