IMPLICATION OF ONE BELT ONE ROAD INITIATIVE FOR EAST AFRICA COUNTRIES

Authors

  • Haile Andargie Wondalem Research Scholar, Southwest University of Law and Political Science, Chongqing, China

Keywords:

Implication, Initiative, Belt and Road, integration, Africa, China, Economic, Foreign relation, Conectivity,Common destiny

Abstract

In 2013, Chinese President Xi Jinping announced an initiative called “Silk Road Economic Belt” and a “21st Century Maritime Silk Road[1] When first announced it was translated into English in its literal form “Belt and Road Initiative” abbreviated as BRI. The BRI routes will run through countries in Asia, Europe, and Africa.In May 2017, Chinaorganizedthe first Belt and Road Forum (BRF) in Beijing. During the BRF, China signed economic and trade cooperation agreements with 30 countries, among them two are African states. The objective of this article is to summarize and analyze best available information on the Belt and Road Initiative and develop scenarios on how the Initiative is likely to impact East African Countries. It analyzes the background of the initiative, the goals of theinitiative and scope of the initiative. It also analyzes Economic, political and social implication of the initiative and related theopportunities and challenges.In writing the article, the writer uses qualitative approach particularly journal articles, conference proceedings, newspapers, magazine articles, and various websites.This article argues that East Africacountries will get economic, social and political benefits from these initiatives. The BRI would result in a particularly pronounced increase in intra-regional trade. It triggers peopleto people and business to the business relationship through roadways, airways and seaways. It also helps to coordinate various policies, to integrate finance and increase productivity. This study also analyzes some challenges that are associatedwiththe RBI initiative.Among other things, inadequatefinance, clear schedule, and volatility of East Africa security is worth noticing.  To tackle these challenges, the article suggests that there should be strong coordination between China andthe African Union in general and East African Country in particular. Theenacting legal framework,developing coordinated policy, finding sufficient fund, designing attainable and clear timeframe shouldbe implemented to get aspired fruit of the imitative.

References

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2. Anderw (2018) note 2, p 209

3. Raphael and Zhao Changfen , Africa in China’s’One Belt, One Road Initiative: A Critical Analysis, IOSR Journal Of Humanities And Social Science (IOSR - JHSS) Volume 21, Issue12, Ver. 1 (December. 2016) PP 10 -21 e -ISSN: 2279-0837, p -ISSN: 2279 -0845. www.iosrjournals.ors p, 1

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6. Belt and Road Website, https://www.clsa. com/special/onebeltoneroad/ as cited by Lu Yao , note 8

7. Lu Yao ,(2018), note 8

8. Raphael and Zhao Changfen(2016), note 5, p, 1

9. David Wijeratne et al (2018), China’s new silk route long and winding road available at www.pwc.com/gmc

10. https://www.clsa.com/special/onebeltoner oad, note 10

11. Note 9, Belt and road website

12. Lu Yao ,(2018), note 9

13. Varlare & Putten, (2016), Belt and Road initiatives for developing states, P,23

14. various sources of data are not the same about countries directly involved in the project. For example, according to China Global Television Network (18.05.2017) Egypt, Ethiopia, South Africa, and Kenya are the only African countries having signed high-level BRI MoU ’s with China and an unofficial map shows Kenya, Djibouti and Egypt

15. Rodgers(2017) note 1 p,18

16. Raphael and Zhao Changfen (2016) note 5

17. Ibid Cite this Article Haile Andargie Wondalem. The implication of One Belt One Road Initiative for East Africa Countries. Journal of Corporate Governance & International Business Law. June 2020; 3(1): 37–42p.

Published

2020-06-15