obor

  • Article: "Our Bulldozers - Our Rules  

    The article looks at China’s plan to build a new “Silk Road” connecting Europe to Asia overland and to southeast Asia and east Africa by sea. The official policy is known as “OBOR” for “One Belt, One Road” (confusingly the Belt refers to the overland part and the Road refers to the ocean-going part). China is committing itself to $4 trillion in infrastructure projects in OBOR (over an indefinite time frame). But right now, officials say there are 900 deals underway worth $900 billion.

    OBOR matters because it is a challenge to the United States and its traditional way of thinking about world trade. In that view, there are two main trading blocs, the trans-Atlantic one and the trans-Pacific one, with Europe in the first, Asia in the second and America the focal point of each. Two proposed regional trade deals, the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership, embody this approach. But OBOR treats Asia and Europe as a single space, and China, not the United States, is its focal point.”