Chinas Belt and Road Initiative has been in the headlines recently as the trade war between the United States and China has continued to play out. This initiative, which was announced in 2013, aims to strengthen Chinas connectivity with the world, covering an expansive geographic scope and including efforts to strengthen hard and soft infrastructure and cultural ties. At present, it is estimated that the enterprise involves over 60 countries and trillions of dollars with a target completion date of 2049.
The initiative forms a foundation for the Made in China 2025 strategic plan, which discusses Chinas aims to move from producing cheaper, lower quality goods to higher value products and services such as in the pharmaceutical, automotive, aerospace, IT and robotics industries. While one may take issue with any of the particulars of these plans, we should be impressed by the long-term vision that appears to be backed up by significant actions.