Ancient Silk Road revitalized for the 21st century
BUSINESS
By Ge Ning

2017-05-12 16:02 GMT+8

In the 19th century, German geographer Ferdinand von Richthofen named an ancient Chinese trade passage the "Silk Road." In 2013, Chinese President Xi Jinping pitched the idea of the Belt and Road Initiative, inspired by the ancient trade routes through Eurasia. While there are similarities between the two routes, there are also many differences.
The Silk Road was split into three routes, snaking through central Asia and reaching as far as the Iberian Peninsula, and also encompassing trade hubs at ports in Europe and Africa. The Belt and Road Initiative, however, consists of dozens of countries across four continents.
Along with tea and porcelain, silk was one of the most lucrative products for ancient Chinese traders, with the trade route soon taking the name of the fabric. By contrast, the 21st century global market provides much more than just exotic material. Each year, around 13 million containers ship goods from China to Europe and vice versa, carrying all manner of different consumer goods, from electronics, to household appliances, and even automobiles.
Much of the goods traded along the ancient Silk Road was carried by camels, but now it has been replaced by train carriages, making these trips much faster. A China-Europe Block Train can bring local handicrafts from China’s Yiwu all the way to the Spanish capital Madrid in just 21 days.
With everything evolving very quickly under the Belt and Road Initiative, its spirit of inclusiveness, connectivity and communication remains unchanged.

READ MORE