The Silk Road Economic Belt is a proposed development zone spanning across Asia, South and Central Asia. It’s an economic development program that involves China, India, Japan, the Russky Republic, Thailand and other nations. The idea behind this is to promote cooperation in transport, industrial and service sectors. It’s a win-win situation for all of the participating countries. They get better infrastructure, improved trade, and can work together to develop certain sectors.
The concept is not like those seen in the previous decade. In the past, all of these countries had to rely on exporting to other countries in order to support their economies. Now they have the ability to build better cities and roads and create jobs, because of the global market. They’re also able to control their currency values, something that wasn’t possible during previous decades. All this has led to increased prosperity for those that live in the area.
The United States is one of the biggest beneficiaries. As it becomes a cleaner and more secure place to do business, companies will want to base manufacturing somewhere else. The same will happen with the Asian countries that border the United States. They will grow closer and develop better relations if they can work together. They would be able to sell things to each other at a better price, creating more income for everyone.
There are two types of markets that would develop with this. One is an agricultural market. This would involve products like cotton, wheat, rice, potatoes and so on. Another is a manufacturing market. This might include items like automobiles and computers Silk Road economic belt.
These markets would be in high demand and will bring in plenty of jobs for people. In fact, some analysts believe the United States of America will find itself buying products from these countries in the near future. Just like the Wheat Growth Zone in the middle of the United States, the Silk Road Economic Belt will attract countries with new and modern technology.
This will make them more competitive. The world is getting smaller due to globalization. It may be time to catch up, economically. We must become more efficient and adopt the fastest means of communication while improving our infrastructure. Our citizens should also start demanding more, for their governments to spend their money wisely. This means a higher standard of living and more jobs.
Some people have predicted that by following this path we will be better off in the future. A recent study in Nature claimed that the United States could be the first developed country to fall into this trap. Its productivity will decrease along with its size. China, India, and the Middle East will become the new developed world powers. Is that something we want to achieve?
A negotiation process is currently underway in the United States between South Korea and Japan. The main issue is how the US will reduce its defense spending and pay for its defense needs. Negotiations are expected to continue until a satisfactory agreement has been reached. Once the agreement is in place, South Korea and Japan will be responsible for buying American manufactured goods only.
Is this a problem? Of course not. As stated earlier, trade is a great thing. By cutting back on defense purchases, it would open the door for more economic opportunities for other countries, such as those in the Middle East or in South America. In fact, there are already many Latin American countries that import products from the USA.
Are we looking at a future where countries like Venezuela, Bolivia, Nicaragua, and Brazil are economically unstable and surrounded by hostile neighbors? Are we headed for World War III? Absolutely not. As mentioned before, the Silk Road Economic Belt will help all countries prosper.
The United States does not look to start a war anytime soon. However, if a country makes irresponsible decisions that contribute to climate change, such as digging coal mines or tapping fossil fuels, that country could become a problem in the future. What’s the solution? Trade and commerce, including the economic part of that, is a good thing.