Editor's note: The article is part of CGTN's series called "New Chapter of the BRI", in which global economists and eminent academics share their views and insights on the development and opportunity of BRI. Saud Faisal Malik is the CEO of The Daily CPEC, a news website reporting on the China-Pakistan Economic Corridor. The article reflects the author's opinions and not necessarily the views of CGTN.

In an ever-evolving world, characterized by rapid globalization and interconnectivity, the need for mutual understanding, cooperation and shared prosperity among nations is more crucial than ever. Against this backdrop, China's State Council Information Office recently released a white paper entitled "The Belt and Road Initiative: A Key Pillar of the Global Community of Shared Future". The paper highlights the profound historical significance of the Belt and Road Initiative (BRI) while emphasizing its role in the vision of a global community of a shared future. This leads us to examine the successes achieved by the BRI, and the difficulties it faces, especially those mentioned in the recent keynote address given by Chinese President Xi Jinping at the third Belt and Road Forum for International Cooperation.

With regards to the BRI's significance in the contemporary day, we ask these questions: Can it really contribute to the creation of a global community with a shared future? And what lessons can be learned from its path?

The BRI celebrated its 10th anniversary during the summit. It has played a significant role in the development of international cooperation and shared prosperity, a transformative effort that aims to improve interconnectivity and collaboration across numerous dimensions, including policy, infrastructure, trade, finance, and people-to-people ties.

Over two millennia ago, our ancestors embarked on a journey that transcended geographical boundaries and cultural divides, forging the Silk Road that connected Asia, Europe, and Africa. This ancient route facilitated not only trade but also cultural exchanges, contributing significantly to human progress. More than a thousand years ago, they set sail to establish a maritime Silk Road, bridging the East and the West and ushering in an era of closer communication among people. The BRI, proposed by President Xi in 2013, draws inspiration from these historic achievements and enriches them with contemporary ideas and values.

One of the fundamental tenets of the BRI is international cooperation. What began as an idea has evolved into concrete actions, garnering international recognition and producing tangible results. Over the past decade, the BRI has not only benefited China but also delivered real gains to participating countries. It has contributed to the development of economic globalization and addressed global development challenges, thereby enhancing the global governance system. The commitment to shared development stands as a shining example of China's dedication to a global community of shared future.

However, there is a clear challenge in the contemporary context of economic globalization. Many have experienced affluence as a result of it, but it has also made wealth gaps wider, and has led to economic imbalances between rich and developing countries. The practice of hegemony, protectionism, and unilateralism by some countries has impeded global economic growth and stability. In response, the BRI has emerged, promoting changes to the global economic system with its inclusive and impartial stance.

China's remarkable economic expansion, fueled by its international involvement, provides evidence of the possibility for other developing nations to follow suit and modernize. China has been a steadfast supporter of globalization, tying the BRI to the 2030 Agenda for Sustainable Development of the UN. The goal of the BRI is to create a more dynamic, inclusive and sustainable global economy that benefits all countries by sharing development opportunities and fostering higher-quality growth.

To truly understand the amazing progress of the BRI over the past 10 years and comprehend how it is influencing future international cooperation and shared prosperity, it is essential to go further into the main points of President Xi's speech.

At the third Belt and Road Forum for International Cooperation, President Xi gave the keynote address honoring the BRI's 10th anniversary. The BRI is a revolutionary project that has profoundly impacted international affairs. Its goal is to increase interconnectivity and cooperation in a range of areas, including trade, infrastructure and policy. During his speech, President Xi presented the BRI's accomplishments and future course, highlighting its pivotal function in promoting global cooperation, interconnectivity and mutual prosperity. The principal points of this inspirational speech can be summarized as follows:

Global expansion

The BRI has expanded quickly over the last 10 years, reaching Africa and Latin America in addition to the Eurasian continent. Agreements for cooperation under the BRI have been inked by more than 40 international organizations and more than 150 countries. With the launch of numerous programs and projects, the effort has progressed from being just ideas to actual projects.

Inclusive cooperation

Institutional as well as physical interconnectivity is part of BRI cooperation. Its guiding concepts include "planning together, building together, and benefiting together," the philosophy of open, green and clean cooperation, and the goal of pursuing high-standard, people-centered and sustainable cooperation.

Network of interconnectivity

Information highways, transit routes and economic corridors make up the world's established network of interconnectivity. The flow of products, capital, technologies and people is facilitated by this network, which spans land, sea, air and cyberspace.

Signature projects

In the current century, a number of projects, such as high-speed railways, contemporary airports and intelligent power transmission networks, have facilitated international trade and the growth of the world economy.

Humanitarian aid

The Belt and Road was a life-saving channel during the COVID-19 pandemic. China engaged in cooperative vaccine production, supplied masks and offered other forms of significant assistance to a number of countries. This highlighted the BRI's ethos of cooperation and altruism.

A global shared future

The BRI unites people to pursue growth for everyone, despite disparities in social structures, civilizations, cultures and development. It represents the common aspirations of humanity for growth and prosperity.

The BRI stands as one of the main pillars in the construction of a global community with a common future. In his inspiring speech, President Xi outlined the extraordinary journey of the BRI. The initiative's future potential to promote global cooperation and shared prosperity is further illuminated by these major themes. The BRI has established itself as a transformative force in changing the global cooperation landscape through its humanitarian aid, symbolic projects, inclusive cooperation, network of interconnection, global expansion and vision of a global shared future.