The Study On The Belt And Road Initiative In Latin America And The Caribbean

The Belt and Road Initiative is a project of trade connectivity through infrastructure,inspired in the ancient Silk Road,which was a route network that served for the passage of merchants in ancient times.It is an important project of development in the world,conceived in the framework of the growing economic and commercial position of China and the new necessities outcome by globalization event in countries of the world.As China growths economically and technologically,it becomes an important partner for many countries including those of Latin America and the Caribbean(LAC).While the relationship of this region with the United States becomes more and more complicated with President Donald Trump.China is now the second largest economic power for Latin America and the Caribbean.By 2013,President Xi Jinping made public the BRI to link Europe and Asia continents.Considering the achievements,the BRI has made and the presence of China more and more remarkable from last decades in Latin America and the Caribbean region.In the sidelines of the Belt and Road Forum in 2017 Chinese President Xi announced,during a meeting with President Mauricio,that Latin America and the Caribbean is a “natural extension” of the Belt and Road Initiative.The Belt and Road Initiative coincides with Latin America and the Caribbean region’s need for infrastructure investments as it represents an opportunity for the development of production and investment infrastructure in the region.BRI is a convenient project because it creates conditions for development and integration based on independence and the “win-win” cooperation that inevitably ends the unipolarism.In order to understand the phenomenon of the Belt and Road Initiative in the region,this study focuses on an analysis to answer to three research questions: what constitutes the Belt and Road Initiative and what is its current status? what are the current challenges of the Belt and Road Initiative in this region? and what are the projections for its improvement for a near future?Therefore,the following analysis were conducted through a qualitative research methodology,by using various sources such as books,articles,papers,analysis and news among others by analyzing and comparing them in order to understand the new BRI phenomena in Latin America and the Caribbean,the arrival of the initiative to the region until the present,in the pursuit of future perspectives.This study comprises five chapters: The first chapter contains the background of the study that generally explains the rise of China,its importance in the international commerce,Belt and Road Initiative in the world and in LAC.The second chapter explains the importance of China in the international system,constitution of the Chinese commerce,the Ancient Silk Road to the launch and constitution of the Belt and Road Initiative today,roads and routes that comprised the Belt and Road Initiative’s project,the beginning of the project,the development of the Chinese and Latin American and the Caribbean commercial partnership,and the BRI’s “natural extension”,Latin America and the Caribbean China’s presence in Latin America and the Caribbean within the BRI.The third chapter is dedicated to challenges faced by the Belt and Road Initiative,such as the United States position with regards to the Belt and Road Initiative;to explain the reservations of nonmember countries of the BRI.The forth chapter is focused on the evaluation of the BRI.Finally,the fifth chapter is consecrated on the conclusion drawn in this research.The Belt and Road Initiative,as the opportune launch of a global project of cooperation through infrastructure financing programs,the adequate conditions of China to surprise the world with the BRI initiative,the weakness of the relations of the United States with its “American first” policy and the vulnerable relationship with countries of the world with this commercial partner,the opportunity it constituted for Europe,Asia and the rest of the world.The number of countries in the BRI has increased due to positive results of the cooperation with China since the natural extension.The U.S.policy of "U.S.priority" and its fragile relationship with other countries in the world have brought opportunities to Europe,Asia and even other countries in the world.As a “natural extension” of the Belt and Road Initiative,the more and more Latin American and Caribbean countries want to cooperate with China.Although the cooperation is facing the challenges brought by the United States and other factors,a deeper cooperation and deeper mutual trust can be expected.