China’s Belt and Road Initiative and Australia: an Australian perspective on the BRI

Published on December 31, 2019   34 min

Other Talks in the Category: Global Business Management

0:00
Hello everyone. My name is Mona Chung. I am a bicultural business expert in doing business with China. In particular, I focus on cross-cultural negotiations in communication.
0:17
Just to give you the outline of today's topic, we'll start with an introduction, and then we'll talk about One Belt One Road, or the Belt Road Initiative, which is being used by lots of Western countries. The Chinese original term is One Belt One Road, which is short for OBOR, and the Belt and Road Initiative, which we often say using BRI for short. We will talk about the One Belt and One Road as a global strategy, and we'll discuss further into Australia and the One Belt One Road Initiative, and the Australia-China relationship, and a conclusion.
1:06
The introduction of this topic - where does the One Belt One Road concept come from? It really came from the old concept, the old Silk Road, which is an ancient trade strategy, really going back as far as 2000 years ago. The old Silk Road concept started with an international trade idea in the East. On the other side of the world, when the Roman empire also expanded into the Middle East and North Africa, trade then further extended to the East, Northern India, and Central Asia. At this time we found a lot of luxury items such as silk, which is the most heard of item, was traded around the wealth of Rome and Egypt. Lots of other luxury items were also traded. These items including manufactured goods, precious stones, metals, rare perfumes, and oil, herbs and spices. In late 2013, President Xi raised this initiative of a modern trade concept. He named it the new Silk Road Initiative. Later, it became One Belt and One Road. This concept is aimed to build a range of a modern equivalent network of railways, roads, pipelines, and utility grids that would link China and Central Asia, West Asia, and parts of Southeast Asia. The idea for One Belt One Road aims to create the world's largest platform of economic cooperation, including policy coordination, trade, and financing collaboration, and social and cultural cooperation. The new Silk Road concept also includes a Silk Road Economic Belt, and a 21st Century Maritime Silk Road. The three routes which are: China to Europe via Central Asia, the Persian Gulf, the Mediterranean through West Asia, and the Indian Ocean via Southeast Asia.
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