The Belt and Road initiative (a.k.a. One Belt One Road) – the Chinese project to build the biggest international infrastructure network in human history – is one of the great under-reported stories of our time.
Not on UnHerd, though. From an introduction to the project itself, to the international challenge of raising the trillions of dollars required to finance it, to the significance of the Eurasian landmass, we’ve tried to explore the issue from every angle.
One question we haven’t yet asked, however, is: why bother?
Yes, the world’s biggest infrastructure network is primarily intended to transport the output of the world’s biggest exporter – but don’t we have ships and planes for that? Increasing exports may require more ports and airports, but why build land links across 10,000 kilometers of Eurasia? It’s all a bit Genghis Khan, isn’t it?
An excellent article by Richard Pomfret for Vox EU provides a lot of the answers. It explains the value of the ‘Eurasian landbridge’ i.e. the direct rail freight services that have been established in this decade between China and Europe:
“At current transport costs, auto components and laptops/printers fit into an intermediate category of goods for which a rail link between China and Europe offers a useful niche; the goods are too bulky for air transport, but the firms want faster and more reliable delivery than intercontinental maritime transport can provide and are prepared to pay for the time-saving that rail transport offers over maritime transport.”
It’s worth adding that sea routes from China to Europe and the Middle East run through some highly sensitive pinch points. For instance, there’s the Straits of Hormuz (between Iran and the Arabian Peninsula), the Suez Canal, of course, and the Bab el-Mandeb. That last one is the entrance to the Red Sea between Yemen and the Horn of Africa – and translates as the ‘Gate of Grief’. Reassuring!
Unsurprisingly, the Chinese would like some alternatives to those dire straits – hence the new focus on the overland routes.
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