During his historic visit to Sri Lanka in September 2014, President Xi Jinping described the island as a “splendid pearl” while the two countries signed over twenty bilateral agreements in Colombo. Symbolized by the Buddhist-inspired Lotus Tower on the waterfront of the picturesque Beira Lake in the commercial district, the globalizing BRI is reviving the ancient glory of “trade-for-peace” to bring about a more harmonious and prosperous “Pacific New World Order” for the Asia-Pacific region and beyond.

Pakistan’s deep-sea port Gwadar, which the Chinese built and are now operating under a 40-year agreement, is a key part of China’s Belt and Road Initiative. The U.S. and India are looking at the Chinese initiative with skepticism, believing that the twin initiatives are meant more to secure China’s geo-strategic aims.

EU engagement in Central Asia has been reactive than proactive. U.S. withdrawal in Afghanistan, and the amalgamation of EU expertise and the Chinese financial power may significantly help mitigate the effects of poverty in Central Asia. Yet, at this stage these prospects are detached from the reality and embody rather normative aspirations.

China’s “One Belt, One Road” initiative would create multiple economic corridors encompassing more than 60 countries Asia, North Africa and East Africa, linking the most dynamic East Asia Economic Zone with the advanced European Economic Zone. Intraregional free trade and infrastructure funding will enable more efficient circulation of currency and culture.

China and its Eurasian neighbors likely discussed the future of Central Asian security while attending the Chinese military parade. Chinese leaders may have to assume a more prominent security role in Central Asia and talks with U.S. officials can make this process more manageable.

Although One Belt, One Road is hailed as one of the grandest flagship projects of Beijing, it may have a bumpy start in Central Asia. Corruption scandals may overshadow laudable development achievements, whilst the new Silk Road may emerge as the Golden Road for kleptocratic governments and rent-seeking elites.

As the focus of the West was fixed in Greece and Iran, the 7th BRICS Summit began a massive shift from a dialogue to an economic partnership – one whose full impact will be witnessed in the coming years.

Neighbourhood diplomacy is becoming a foreign policy priority for official Beijing, and demonstrates that China is willing to undertake the role of mediator in Afghanistan and accelerate regional efforts to bring all relevant parties to the negotiating table.

The Asian Infrastructure Investment Bank will help finance billions in infrastructure projects around Asia, and also challenge the existing financial institutions. Curtis S. Chin, provides suggestions on how the new institution should organized to be efficient, environmentally stringent, and respectful of local rights.

Could China’s export infrastructure drive be at risk from its actions in the South China Sea? To win overseas infrastructure contracts, China may have to choose between a trouble free ‘going out’ strategy, and an aggressive ‘island-building’ South China Sea policy.