China's New Maritime Silk Road: Implications and Opportunities for Southeast Asia

In 2013, Chinese President Xi Jinping unveiled plans for two massive trade and infrastructure networks connecting East Asia with Europe: the New Silk Road and the 21st Century Maritime Silk Road ("one belt one road"). The plans aim to reinvigorate the ancient Silk Roads with a modern network of high-speed rail, motorways, pipelines and ports stretching across the region. The idea of the New Silk Road and the New Maritime Silk Road was raised because China's domestic economy is experiencing structural changes that reflect a "new normal" of slower but better quality growth. More importantly, it signals a shift in China's strategic thinking and foreign policy towards prioritizing the relationship with neighbouring countries. Hence, it has many implications for Southeast Asian countries.