Impact of Financial Cooperation under the Belt and Road Initiative on the Global Economy

Authors : Fakhr Ullah; Naveed Jan; Xiyu Liu

Volume/Issue : Volume 5 - 2020, Issue 8 - August

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DOI : 10.38124/IJISRT20AUG499

The belt and Road Initiative is a platform for multilateral regional economic and trade cooperation advocated by China, which bears the important historical mission of political mutual trust, economic cooperation and trade cooperation. The cultural integration between China and its neighboring countries promotes the formation of a new international economic order and the construction of a harmonious society. This measure increases the total export volume of China's countries along the way, thus increasing the proportion of states along the way in China's trade structure, improving the trade situation and increasing the importance of dividend policy. From another point of view, based on the principles of openness, tolerance, peaceful cooperation, mutual benefit and mutual learning, we should take cooperation, co construction, sharing and we are committed to building a responsible society and an idea of equality, cooperation, tolerance and win win for the common destiny. In the whole country, compared with the traditional way of competition, this is the innovation and Transcendence of the traditional economic theory of geography, thus forming a new type of economic theory. China's traditional economy Belt and Road, has been seriously impacted and restricted since the global financial crisis in 2008. China's "Belt and Road" initiative has brought these areas into a state of rapid development and become the leader of China's economic development. Meanwhile, the internationalization of these areas has become a trend of future development. This paper will explore Belt and Road initiative, the global economic impact and long-term planning development under the background of global cooperation and financial system.

Keywords : Belt and Road; Financial Cooperation; Global Economy; Regional cooperation


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31 - July - 2022

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