What is the full form of BRI?

Key Points

• The full form of BRI is Belt and Road Initiative.
• The Belt and Road Initiative is a global development strategy adopted by the Chinese government in 2013.
• It aims to enhance regional connectivity and embrace a brighter economic future by building infrastructure and broadening trade links between Asia, Africa, and Europe.
• BRI encompasses two main components: the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
• The initiative is often seen as a way for China to assert its influence on the global stage, fostering economic cooperation and development.

Additional Information

• The Belt and Road Initiative (BRI) was first unveiled by Chinese President Xi Jinping during official visits to Kazakhstan and Indonesia in 2013.
• It is sometimes referred to as the "One Belt, One Road" (OBOR) initiative.
• The initiative seeks to improve trade and investment flows between participating countries by building infrastructure like roads, railways, ports, and airports.
• BRI is seen as a vehicle for China to export its surplus production capacity and to create new markets for its goods and services.
• Critics of BRI argue that it can lead to debt dependency and increased geopolitical influence for China over participating countries.
• As of 2021, over 140 countries and international organizations have signed agreements with China on BRI cooperation.