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  • Writer's pictureJENKINS POMBO 3wc

Modern Day Silk Road

The Silk Road once served the continents of Europe, Asia, India, and Africa. It was mainly developed by the Chinese to help further their silk industry. It was first built by the Han Dynasty and was popular during the 130 BCE – 140 CE. Silk wasn’t the only product traded on the road.

The importance of the Silk Road slowly diminished. These came from multiple reasons like, the building of better ships, dangerous road conditions, people discovered other ways to make silk, and the better trade routes.

China has been slowly rebuilding the Silk Road under the Road Belt Initiative They are doing this by taking over strategic ports, building highways, building railroads, and building bridges. They benefit through though cash, partnership, or a lease.

Pakistan’s deep-sea Gwadar Port is funded by China and will become one of busiest ports in the world. With its position right next to the shipping lanes for the oil tankers coming from the middle east, this was strategic placement of a port.

China knowingly invests in countries that will default on a loan and re-negotiates new payment methods. China now takes 85% of revenue made from the Gwadar Port. Pakistan will be receiving a Chinese Naval Base and an international airport.

That is just an example of what China is capable of. They do not care if the country is corrupt or can’t pay. China will still make their money either way.

More importantly, we should not be afraid of loans. If we are to use the funds to our advantage, then a country's debt management needs to be world standard. Countries should be extremely careful with who we take loans from and negotiate the best terms.

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