China Must Prove Silk Road Plan Is Serious

China is trying to reinforce its ties with its neighbors with a modern-day Silk Road that links 65 nations: “the so-called One Belt, One Road plan – incorporating a Maritime Silk Road – has become the centerpiece of the president’s foreign policy and international economic strategy. Important commercial consequences for the region and global companies will go hand-in-hand with unpredictable geopolitical implications in parts of the world where the US, Japan, India and Russia all have material and competing interests,” writes George Magnus in an opinion essay for the Financial Times. China’s economy has slowed and Magnus describes overcapacity in industry and construction. For China to truly succeed with the trade initiative, Magnus concludes, the government must boost income for its citizens, apply open governance, and lead on foreign policy by convincing other nations to embrace its ideas. – YaleGlobal