Digital Silk Road Catalyzing Global Digitalization

The Vision Of Digital Silk Road (DSR) Announced In 2015 Have Performed Till Now As A Long Term Vision Of Building A New Model Of Cooperation.

China, the leading innovator of the world in the field of science and technology has emerged as a nation that have been experimenting on innovations by pushing forward the initiative of building a digital society with the shared future of mankind. In the recent years, China has gained the attention in the international community as a country that is focusing on the goal of global connectivity under Belt and Road Initiative (BRI). The smooth development and progress of projects under BRI has offered a good example of solving global problems of physical infrastructure today faced by individual countries and regions at large.

BRI has widely opened the doors of bilateral and multilateral cooperation on regional and international level that also brought the opportunities of working jointly on digitalization of the global society. The idea of BRI attracted numerous countries and international organizations that were looking forward for the bulk of investment in infrastructural development, gas and oil pipelines, energy projects and others.

In the same way, under the umbrella of BRI, The Vision Of Digital Silk Road (DSR) Announced In 2015 Have Performed Till Now As A Long Term Vision Of Building A New Model Of Cooperation That is providing the facilitation and innovations mostly for developing countries who face the lack of technological development. The consistent focus of Boao Forum for Asia (BFA) on Global Governance and BRI proved as a great support in building a unanimous approach to inject new impetus in unimpeded supply chains, digital trade and essential public goods for Asian economies and beyond.

The concept of digital trade under DSR have been developing a new blueprint for expansion of trade digitally among Asian economies and BRI countries with the up-gradation of digital gateways amid the pandemic. DSR has accelerated the development of future-oriented and high-standard economic integration leading towards multilateral trading system digitally in the post pandemic era. Digital communication has been recognized as an important basis for quickly giving all nations access to smart technologies and strategies that are helping to promote regional cooperation by injecting new impetus into regional economic growth.

In the face of COVID-19 pandemic, digital collaboration is leading towards the scaling up E-Commerce activities that has turned into a positive development for economic growth. The timely transferring the knowledge of technology from China towards partner countries accelerated process of innovation and development of digital technologies that is continuously ensuring the regional and global supply chains to promote green investment, digital transition and facilitation of cross-border infrastructure.

It is far sure that the concept of DSR is helping to attain sustainable economic recovery that is also fulfilling the gap of physical connectivity during the current health crisis globally. DSR has brought not only benefits for China to export Chinese products to global markets but it is also helping partner countries to export their products to China and to raise the volume of trade. By taking the advantages of DSR, cross border E- Commerce has witnessed the rapid boom and the forces of unilateralism and protectionism have been left far behind.

Purchase and sale of Products and goods between China and the partner countries have given birth to new technological firms and strengthened those working already in the technological sector. The development of DSR have pushed a boom for digital trade connections between China and others and the digital trade activities injected vigorous vitality against backdrop of COVID-19 and anti-globalization drive. The active promotion of network infrastructure and digital transformation is boosting the economic value that attached the great importance to the economic zones between China and Asian countries including BRI partners.

The achievements of China in the fields of Cloud Computing, Big Data, 5G, Artificial Intelligence and Internet of Things (IoT) have been seen by the global community as an opportunity of more collaboration that can accelerate the process of digital economic transformation more smoothly. The fast scale development of internet in China has laid the foundation of digital cooperation in this new era of technological advancement for all at equal basis. The sudden global outbreak of COVID-19 resulting the economic uncertainty pushed forward BRI partner countries in adoption of DSR for upgrading their internet infrastructure to spur the growth of online consumption.

The joining of BRI countries for ongoing stream of innovations in China enhanced their digitization process with the benefits of high quality progress. The rapid and effective development of BRI with the connectivity at its core, China as a major country is fulfilling its global responsibility to share the dividends of its achievements in various sectors including the technology. The fragmented markets of developed countries were already in a dire need to develop digital gateways for enhancing the movement of their goods domestically and internationally in a smooth manner during the pandemic.

The broadened infrastructure of E-Commerce in China is injecting the new momentum of freight trade for BRI partner countries locally and globally that is ensuring the timely movements of goods across the globe. The DSR has been continuously promoting the connectivity between consumers and local businesses in China and BRI countries through financial technology, education technology, E-Commerce softwares and smartphones.

It is being observed that DSR has enabled the BRI partner countries to enjoy the advanced IT infrastructure such as fiber optic, E- Commerce and broadband that have highlighted the needs of communication infrastructure for sustainable digital system. The sharing of Chinese technological development as part of DRS has emerged as a tool kit in providing favorable environment for the sake of controlling the pandemic and public welfare.

This news was originally published at GMW.

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