The ambitious Chinese Belt and Route Initiative, popularly known as the New Silk Road, is likely to provide significant business opportunities for global economies, according to experts.
According to participants at the 8th China Business Forum held in London, Beijing is the world’s second largest economy and is poised to grow strongly in the next two to four decades thanks to this economic initiative.
“Growth is going to continue to come from China for the next 20, 30, maybe 40 years … The greatest growth opportunity in the world is the Belt and Road Initiative,” Stephen Perry, chairman of the 48 Group Club, said in a keynote speech to the 8th London Business School China Business Forum, as quoted by China Daily.
During his speech at the forum, Perry said the Asian country is trying to “do is to free the productive capacity and consumer demand from China, across Central Asia, central Europe, and down into Africa,” he said, adding it is in the United Kingdom’s interests to take part in the initiative.
Xie Weishan, chairman and co-founder of Kmind Consulting, talked about China’s wisdom and the role Chinese classics such as “The Art of War,” written by Sun Tzu, plays in today’s intense business environment.
He cited examples of successful brands such as Firmus, an infant milk brand in China, and Bosideng, a down jacket brand with a history of over 40 years in China, to illustrate how these companies leverage the wisdom of The Art of War to rise against the odds.
“To win the fierce business competition, the best approach is ‘Winning without Fighting’, and the essence of this approach is to win people’s hearts and get power from them,” he said.
“If we can leverage the power generated from consumers’ recognition through the company’s moves in operation, strategy and communication, we can obtain our competitive edge when facing any competitors in any situation.”
Announced six years ago by Chinese President Xi Jinping, the commercial megaproject covers 152 countries in Europe, Asia, the Middle East, Latin America and Africa.
The initiative is intended to significantly boost global trade and cut trade costs by half for the countries involved.
The International Monetary Fund has recently called the trade route a “very important contribution” to the world economy, saying it promotes regional cooperation and connectivity in the field of commercial investment, human mobility and finance.