The Congressional Research Service is a non-partisan office of the Liberary of Congress. The full pdf of this report is available at the link below.
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President Xi Jinping of the People’s Republic of China (PRC or China) in 2013 launched an ambitious and multifaceted foreign economic policy initiative—One Belt, One Road—to expand China’s global economic reach and influence. In 2015, Beijing changed the English name to the Belt and Road Initiative (BRI), possibly to deflect from its focus on developing China-centered and controlled global ties in a hub and spoke format. In October 2020, the Communist Party of China’s Central Committee reaffirmed the effort’s central role in national economic development and securing China’s supply chains. A January 2021 White Paper, International Development Cooperation in the New Era, issued by China’s cabinet, highlights the initiative’s role as a platform for China’s global commercial activity.
