Adam Rush: Bilateral trade volume between countries along the "Belt and Road" may achieve an annual growth of 10% to nearly US$3 trillion in the next decade.
Cover News Reporter Lai Fangjie Liu Qiufeng Photography Yang Tao Colombo Report
China's "Belt and Road" initiative gave the ancient Silk Road a new life. As the largest infrastructure and economic development project ever, the initiative to connect land and oceans to the Eurasian market is expected to invest $8 trillion, and has attracted widespread participation from nearly 70 countries, covering about 60% of the world’s population and 40% of GDP. And significant progress has been made in construction and investment.
In the process of implementing the "Belt and Road" initiative, how can Chinese companies seize opportunities and meet challenges? How to better carry out localized operations and integrate into local society? How to seek business growth points in new markets? Adam Rush, senior director of the Strategy Development Advisory Department of the Greater China Region from , Dard & Walk , shared his insights.
Diade & Road Bank's senior director of the strategic development consulting department of Greater China, Adam Rush
Bilateral space:
Bilateral trade volume in the next decade may reach nearly US$3 trillion
"In recent years, bilateral trade volume has risen rapidly in countries along the Belt and Road. This is mainly because the Belt and Road initiative has brought stronger growth momentum to the regional economy and promoted the establishment of new land and sea trade routes, thereby reducing the transportation costs and time of cargo logistics and infrastructure projects, making trade more convenient." Adam Rush believes that in the past, due to the low trade convenience and poor transportation accessibility, the trade costs of many countries along the Belt and Road have remained high, which makes improving trade terms an important demand.
According to estimates, bilateral trade volume between countries along the "Belt and Road" may achieve an annual growth of 10% to nearly US$3 trillion in the next decade. "The growth of exports has become a key link. The opening of the China-Europe freight train allows cargo transportation to pass through Xinjiang from the hub cities of western provinces, and arrive at European cities such as Hamburg , Duisburg and Warsaw at a shorter time at a lower transportation cost, and no longer rely entirely on the sea route of coastal cities to complete it." Adam Rush believes that the vast space in this is a powerful driving force for inland provinces in the traditional sense. This is a huge opportunity for Sichuan.
and the user country achieve win-win
achieve smooth trade and people-to-people communication
"Enterprises 'going out' means entering an open and complex environment. Different races, different customs and habits, different religious beliefs, different institutional rules, etc. may all become stumbling blocks to development." How to better carry out localized operations, integrate into local society, and realize the principle of harmony and inclusiveness proposed by the "Belt and Road" is a problem faced by Chinese enterprises.
Adam Rush suggested that as competition continues to intensify, the traditional competition strategy of enterprises that fight alone and fight is obviously out of place. We must jointly seek the greatest common divisor of the "Belt and Road" in the community built by governments, financial institutions, overseas enterprises, etc. along the route. Sharing means finding sharing points with customers and partners, and even finding sharing points with competitors, and continuously promoting the development of international business. Taking CRRC as an example, when entering the fierce European and American markets, it originally summarized four sharing methods: sharing with competitors; sharing with customers; sharing with local governments and people; sharing with European universities, research institutions, consulting institutions, etc.
In addition, in the implementation of the "Belt and Road" initiative, it has driven the corresponding technologies and standards to go global, fully spread and utilized, and while benefiting the regions along the route, it has also driven China's higher-level opening up to the outside world. Under the "Belt and Road" initiative, China has carried out all-round cooperation with countries along the route, creating unprecedented opportunities for the improvement of the popularity of the "China Business Card"; on the contrary, as the "China Business Card" is recognized around the world, it will surely play a positive role in further promoting the "Belt and Road".
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