THE ‘ONE BELT, ONE ROAD’ INITIATIVE OF CHINA AND ITS IMPACT ON REGIONS

Abstract

The economy of China dramatically achieved high rate of economic growth, development and infrastructure during previous decades. The resulting from developments in technology, human resources development, influence on regional market activities and high risk on investment plan of Chinese government to gain more capitalist prevailing situation around the globe are major goal by ‘OBOR’ initiatives. An attempt has been made in present paper to analyze the implications of the project in connecting the different regions and its impact on the socio-economic development of the countries of the region it is passing through. Paper is based on the available secondary date. It includes the newspapers, journals, magazines and written documents available in libraries and periodical sections. The literature indicates that the project has ushered the new area of development not only in the regional perspective but also at macroeconomic level. It has connected the cultures, history, and people to people contact and shaped the region as global village with huge economic market. Policy makers, academicians, and economic experts have found the new arenas of serious academic research. Therefore, it guarantees the social and economic well-being of the nations.