"The Silk Road, no longer just a concept in history books, has evolved into a story of modern logistics and Sino-European cooperation," Yang Jiechi, China's top diplomat, told a conference this month.
The New Silk Road Economic Belt — from China across Central Asia and Russia to Europe — and the 21st Century Maritime Silk Road — through the Malacca Strait to India, the Middle East and East Africa — have become the centerpiece of China's economic diplomacy. The belt and the road, as China's diplomats refer to them, are the focus of the Asia-Pacific Economic Cooperation (APEC) summit being held in Beijing this week. They aim to cement China's emerging role at the heart of the 21st century economy.
China's President Xi Jinping has pledged $40 billion to a new Silk Road fund for investing in infrastructure, resources and industrial and financial cooperation across Asia.