In 2013, Chinese President Xi Jingping announced China’s intentions to rejuvenate the ancient maritime silk trading route linking Asia and Europe. Officially termed the ‘Maritime Silk Road Initiative’, the project aims to invest over $40 billon into the development and upgrade of existing port and shipping infrastructure across the South China Sea and Indian Ocean. This initiative will ensure current maritime trade routes are properly equipped to handle the projected increases in container traffic flowing in and out of China.
One region set to benefit from the Maritime Silk Road Initiative is the Middle East. Since the construction of the Suez Canal, the Middle East has provided a secure and stable trade corridor between Asia and Europe. This edition of China.Action.Money discusses how increased Chinese investment into the Middle East will boost container trade and support China’s heralded Maritime Silk Road Initiative.
Read the latest edition of China.Action.Money, here.