For historical allies, remaining faithful to the alliance with the United States is becoming rather complicated now that China is near, to borrow the title of the famous book published by Enrico Emanuelli in 1957. The same is also now happening to the Middle East. Especially to the Gulf countries, which have established themselves as the most important partners of the Belt and Road Initiative (BRI): the new globalization project promoted by Chinese President Xi Jinping in 2013. With the New Silk Road, Beijing wants to create new infrastructure connections by land and sea between Asia, Africa and Europe. This is an international project involving 68 countries: 65 percent of the population; 40 percent of global GDP; 75 percent of currently known energy reserves. Five years since its launch, the BRI has generated approximately $ 400 billion of infrastructure investments in the countries involved. Between 2016 and 2029, the investments could reach 1,000 billion dollars, according to Chinese data.
This mammoth geo-economic project, shared and inclusive, is destined to transform Eurasia. It’s the strength of official figures. There is talk of 900 new infrastructure projects along the six economic corridors, and of 780 billion dollars originating from trade between countries located along the road that follows the ancient trade routes of the sixteenth century. Furthermore: trade in goods between China and the countries concerned will increase by 117 billion dollars during 2019. These predictions were made a few days ago by commercial credit insurance company Euler Hermes. Beijing has therefore launched a long-term vision: a new engine to support the global economy.