China To Develop Modern Silk Road And Pledge For $124 Billion – Research Snipers

China To Develop Modern Silk Road And Pledge For $124 Billion

Chinese President is recreating the trade route that connects China with Mediterranean in to a modern day Silk Road. For this purpose the Chinese President Xi Jinping pledged $124 billion. He wants to create a road not just for free trade but also for encouraging harmony and peace between nations. He wants to get rid of old rivalries and abandon power games.

In a conference Xi and various leaders around the world met and the Chinese president talked about Silk Route and how it will strengthen and enhance trade. He also said we all need to develop an open world economy. This conference was attended by officials from US and North Korea. Also few other delegates from Western countries took part. Xi acknowledged by saying that great minds have gathered in this conference.

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Furthermore, Xi stressed on the absolute necessity of free trade for economic development. He encouraged other nations to promote free trade and facilitate it so that a fair and open economic system is established.

The idea of revival of the Silk Road would further enhance China’s position and global power in trade. It was in the year 2013 when Xi first revealed this developmental project. The goal, from then till now remains that links between Asia, Africa and Europe are explored and trade routes are built for the benefit of all.

Image via: Stratfor