CHINA’S INITIATIVE OF ONE BELT ONE ROAD: EFFECT ON FUTURE GLOBAL DEVELOPMENT
Abstract
China is striving to regain its centuries back glory from last couple of decades. It has been pacing up its way toward progress in multiple sectors at the same time. Despite of the strong opposition from USA, China has been creating its sovereignty on the economies of this new globalized world. China is continuously raising its power to maximum. For this purpose, China has been introducing versatile policies, projects and economic corridors rapidly. One Belt, One Road is a continuation of this corridor that is renamed as BRI later in 2013. Under this project China is, undoubtedly influencing the economies of Association of Southeast Asian Nations (ASEAN) by investing in various sectors like textiles, automobiles, infrastructure, solar energy and trade.The start of China's Belt and Road Initiative fell in line with a flurry of incentives provided by the Malaysian government to boost foreign investment in the country's struggling economy. The objective of this study is to examine the political scenario of Malaysia, whether it is in favor of China’s BRI project or not.
Keyword : OBOR, Soft Power of China, Strategic Hedging of Malaysia, Domestic and international trade
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