WB: Belt and Road Initiative increased trade flows among participating countries

According to a World Bank study that analyzed the impact of the Belt and Road Initiative on trade in 71 potentially participating countries, the initiative increased trade flows among participating countries by up to 4.1 percent.

The study also found that the transportation network proposed by the BRI could lead to a 5-percent increase in total foreign direct investment flows to BRI countries.

A 2019 World Bank study also predicts that the Belt and Road Initiative will help lift 7.6 million people out of extreme poverty and 32 million people out of moderate poverty globally.

In the meantime, Chinese President Xi Jinping’s concept of “building a community with a shared future for mankind” has injected a cultural dimension into the project.

Communication between BRI countries has been profoundly enhanced as BRI-themed art festivals, exhibitions, trade fairs and theater unions being built along the BRI trail.

Source: https://news.cgtn.com/news/2021-06-16/What-does-the-Belt-and-Road-Initiative-mean-to-China-and-the-world--118smxHSpSE/index.html

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