Graduate Digest
All Roads Lead To China

With China's Belt Road Initiative (BRI), Singapore is offered a chance to unlock vast opportunities in Central Asia. Here's what the BRI is all about and how its development could benefit Singapore.

 

In May, China unveiled a bold and ambitious plan that is poised to go down in history as the largest organised cross-national development programme to improve global trade and economic integration. Known as the Belt and Road Initiative (BRI), it seeks to revitalise an ancient trade route between China and Europe, unlocking the enormous potential in these largely untapped areas of Central Asia.

As a key node in Southeast Asia, Singapore has a number of intrinsic strengths that it can utilise to enhance its value proposition for BRI projects. The city-state is a global financial hub, with as much as 60 per cent of ASEAN projects financed by Singapore-based banks. Its robust corporate governance, transparency and legal framework, and reputation as an honest and reliable broker can go far in making BRI investments and projects more palatable. Singapore is also a global transportation hub with a deep ecosystem of logistics, project development and service firms. It has a mature sustainable mindset, the technologies to design and optimise production and consumption chains, as well as the ability to create a green supply chain system. This can help BRI nations address their resource and environmental problems, reduce environmental costs, and find the best balance between utilising resources and protecting the environment.

In this article, we explore how Singapore can tap on the BRI to increase its value proposition in the region.

 

Read full article here.





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