Prosperity and challenges ahead

Braving challenges together helped the world move along the Silk Road, but the initiative must now take advantage of new opportunities

The history of humanity is about braving constant challenges. Our ancestors set out to explore new worlds and civilizations.

The ancient Silk Road was an important historical landmark that provided many benefits to civilizations. The knowledge and sharing of cultures and civilizations allowed for significant development along the routes.

The paths taken over the years played an essential role in inducing technological development.

For example, caravans took challenging land routes through rough terrain. Thus, technologies for logistical support and protection against natural disasters and robbers significantly reduced the existing problems on these routes. Traders on the sea lanes had different challenges. They needed to develop innovative navigation and shipbuilding technologies to increase travel speed and safety.

Although thousands of years have passed, technological innovation remains fundamental to success both along the routes and in current activities.

Ten years ago, President Xi Jinping invited countries to recreate this innovative model of cooperation, bringing many positive results for humanity. The Belt and Road Initiative was proposed and identified the following as priorities: policy coordination, infrastructure connectivity, unimpeded trade, financial integration and closer people-to-people ties.

The results of this excellent structuring project have been positive, but after 10 years there are likely to be new challenges. In this way, many of the Belt and Road Initiative actions must articulate to face the new challenges and take advantage of the new opportunities of this new era.

The concept of "modernization with Chinese characteristics" explains how the Belt and Road Initiative actions should evolve in the coming years.

In general terms, Chinese modernization aims at improving people's living conditions. This improvement can have material, ethnic, cultural, and solidarity characteristics to create a better-shared future for all humanity. The initiative must apply this concept to face the current challenges.

In the current global context, many important nations insist on practicing protectionist policies, which cause more harm than good. The significant challenges of the new era demand solidarity and cooperation. It will only be possible to build a prosperous future by implementing multilateralist economic and social policies. Protectionism will only segment nations into blocs and this is against the idea of creating an environment of global cooperation.

Social inequality is one of humanity's biggest problems, which over the years tends to get worse in the absence of necessary measures. China achieved the historic feat of eradicating extreme poverty for its entire population in 2020. We know this was a complicated task, but China is sharing some of its experiences to serve as a benchmark for other countries. Additionally, the Belt and Road Initiative must improve people's livelihoods and well-being, adapt health policies to construct an adequate system to face significant challenges such as the COVID-19 pandemic, and strengthen monitoring and rescue actions and prevention of natural disasters, among others.

Innovation had an exponential growth, which was helped by talent graduating from the world's educational institutions. Thus, there needs to be more institutions to meet companies' new demand for qualified labor and talents. The Belt and Road Initiative can influence its participants, developing actions to improve these conditions and promoting quality development in compulsory education and the adaptability of professional education, and adapting the curriculum of universities to the demands of companies. The close partnership between educational institutions and companies will be fundamental for important success in the new era.

It is essential to think about how to requalify the workforce that lost jobs, as they worked in sectors in the process of extinction. If retraining is not possible, creating some activity for these people will be necessary. It will undoubtedly be one of the biggest social problems of the coming years.

The Belt and Road Initiative must promote and develop alternative energy matrix such as wind, solar and others. The best energy adaptation will depend on the characteristics of the countries. What is important is that their energy development complies with climate improvement standards.

Economic development has significant differences across countries. However, innovation will be an essential and general factor for the success and survival of all. As such, the Belt and Road Initiative should propose concrete policies for high-quality development. In this context, countries can share and implement a series of measures, such as by promoting the possible integration of technological innovation with the real economy.

In the digital area, strengthening scientific and technological institutions, encouraging business innovation and implementing digitalization policies can help. At first, some of these areas may seem very sophisticated, but countries that do not adapt to this new world may find it difficult.

Fortunately, there is a consensus that protecting the environment is a non-negotiable measure. However, in practice, there are still several gaps for this to occur in the medium term. The Belt and Road Initiative can improve measures to reinforce pollution prevention, ensure that industrial structure optimization follows environmental standards, and encourage green development and the harmonious coexistence of man with nature.

The author is the director of the China-Brazil Center for Research and Business. The author contributed this article to China Watch, a think tank powered by China Daily.

Contact the editor at editor@chinawatch.cn.