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During the G20 summit in India on September 9 and 10, state representatives laid the foundation stone for a gigantic project. They want to connect India, Europe and the US through the so-called “India-Middle-East-Europe Economic Corridor” (Imec). The goal is clear: the trade route must compete with the New Silk Road that China is currently building.
We tell you what you need to know about the “Anti-Silk Road”.
What is the Anti-Silk Road?
The US, the EU, Saudi Arabia and India want to build a corridor between Asia, the Middle East and Europe. Logistically this is not that simple: goods are brought from India by ship to Dubai, then taken by train through the desert to Haifa in Israel, then by ship again to the Greek port city of Piraeus and then by train again to Western Europe.
The project also includes the production of green hydrogen, to be transported via pipelines. The construction of submarine cables is intended to improve communications and data transmission.
What are the differences with the Chinese Silk Road?
Apart from the route, there are three main differences.
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Costs: The Chinese investment volume is about $900 billion, the Western project is estimated at $600 billion.
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The offer: Unlike China, the West wants to invest not only in the transportation of goods, but also in digital connectivity, the production of clean energy and the promotion of education in the affected countries.
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The owner: China’s Silk Road is a state project that aims to create dependencies through loans and debts and tie foreign infrastructure to itself. The private sector must also be involved in the anti-Silk Road.
Who finances the project?
US President Joe Biden (80) has announced a contribution of $200 billion to the costs of about $600 billion. President of the European Commission Ursula von der Leyen (64) probably wants to invest the 300 billion that was already announced at the end of 2021 in the Global Gateway Initiative, a predecessor of the EU. Saudi Arabia, Japan and Canada have pledged further contributions. Private companies should also participate.
When will the Anti-Silk Road be put into use?
Although the beginning of the Chinese Silk Road has already been made, in the minds of its initiators the Western project is only a statement of intent. The G20 summit participants agreed to meet again within 60 days to develop an action plan with timelines.
Kamran Bokhari, an expert on the Middle East at the University of Ottawa, writes on cicero.de that due to the many obstacles, the corridor will probably initially be limited to the sea route connecting India with the Arab Gulf states.
What are the problems?
There are many challenges with such a gigantic project. This also applies to Israel and Saudi Arabia participating at the same time. To work together, the two feuding governments must first find each other. Another problem is likely to be the port of Piraeus, a central point of the anti-Silk Road. This port, located in Greece, is now owned by the Chinese.
What political significance does the project have?
It is a strong signal against China’s New Silk Road and an offer to states that have drawn closer to China and Russia in recent years. Italy is part of the Chinese project. But as the country continues to import more goods from China instead of exporting to China, the euphoria has already evaporated. Prime Minister Giorgia Meloni (46) does not want to extend the contract with China, which expires at the end of 2024. The West’s counter-offer comes at just the right time.
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
