Luo Yuze

(Deputy Division Chief, Foreign Economic Relations Department, Development Research Center of the State Council of China)

Author

Luo Yuze is Deputy Division Chief and Researcher at the Foreign Economic Relations Department, Development Research Center of the State Council of China. Luo received his PhD in Economics from Peking University in 2006, after earning his master’s degree in management from Jilin University in 2002. His research areas include international economics, industrial economics and corporate strategy. He has published articles in international journals such as The World Economy, Thunderbird International Business Review and China & World Economy as well as in top domestic journals such as Economic Research Journal, China Economic Quarterly and The Journal of Quantitative & Technical Economics. He also serves as a reviewer for leading academic journals such as Economic Research Journal, China Economic Quarterly, and Thunderbird International Business Review (TIBR).

Abstract

The key for the construction of the Silk Road Economic Belt lies in whether the economic activities along the belt can prosper through further opening up and enhancing cooperation in this region. Asia enjoys rather stable politics and society, harmonious international relationship, and constantly improving infrastructure, which create a sound environment for economic growth. After the global financial crisis, developing countries in central and southeastern Asia have kept rapid growth, the bottleneck and weakness in Europe and the Asia Pacific are constantly easing, providing a major opportunity for the revival and prosperity of the Silk Road Economic Belt. Chinese President Xi Jinping proposed the initiative of building the Silk Road Economic Belt in 2013, aiming to further boost regional cooperation, giving full play to the advantages each country and region enjoys, elevating the level of mutual benefit,

and realizing the enduring stability, prosperity and sustainable development in the region. Realizing traffic connectivity and building economic cooperation channel are the basis for the initiative, but not the ultimate goal. What is more important is to boost economic activities and the economic development along the belt, in order to build an economic corridor that boasts smooth transportation, concentrated industry, and prosperous trade, and a road that focuses on trade, cooperation, communication and harmony. Countries along the Silk Road Economic Belt should stick to their mutual trust, expand consensus, enhance coordination of development plans, deepen communications and cooperation in various fields, innovate the mode for opening up, co-build unique economic parks, and bring their wisdom together, in order to jointly elevate the international competitiveness in this region, promote the enduring and sustainable economic growth, and ultimately realize the great revival of the Silk Road Economic Belt and the mutual beneficial cooperation of nations along the belt.