TITLE:
One Belt One Road Initiative of China: Implication for Future of Global Development
AUTHORS:
Md Nazirul Islam Sarker, Md Altab Hossin, Xiaohua Yin, Md Kamruzzaman Sarkar
KEYWORDS:
OBOR, Economic Corridor, Financial Integration, Global Economic Development, China
JOURNAL NAME:
Modern Economy,
Vol.9 No.4,
April
18,
2018
ABSTRACT: One Belt One Road (OBOR) initiative is a historical
initiative which connects the people over the world and facilitates various opportunities
for global peace. The main purpose of this study is to explore implication of
One Belt One Road initiative for global future development. It also analyzes
the reasons of origin, strategy, opportunities and challenges of OBOR
initiatives on the basis of business, economic, political, social and
environmental aspects. This study uses qualitative approach and secondary data
particularly journal articles, conference proceedings, various documents of
government, books, newspaper articles, magazine articles, and various websites
of internet have been extensively used to determine the objectives. This
article argues that partner countries and agencies will get economic and
political benefits from these initiatives. It facilitates to connect people through
road ways, air ways and water ways, coordinating policies of various
governments, financial integration through cross border business, productivity
and regional energy security. This study also analyzes risks and challenges
associated to OBOR initiative implementation. It suggests that strong
coordination among partners of OBOR is necessary to get full fruits of OBOR
through supportive law, policy, rules and regulations, proper strategy
implementation, transparent procurement system, sincere consideration on
political, financial, environmental and social factors.