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China plans to build a logistics network for a swift trade of goods internationally, by 2035. This would make it possible for goods to be transported to its neighboring countries and other main international cities in 2-3 days.
The logistics network is also likely to enhance China’s trade with some of the major EU and Asian economies.
Trade experts have noted that China’s international trade is expected to grow 5% or more yearly during the fourteenth Five-Year Plan period. If the negative influence of geopolitics of the country is controlled, then traders predict that the turnover could be even more than 5%.
According to analysts the broad plan is also important for an international industry network coordination where China is a key and focal player.
Perditions suggest that given China’s fervent plans and schemes, it could attract gradually become the world’s economic center.
According to the comprehensive logistics chain layout, China targets to construct 460,000 kilometers of transportation roads and 200,000 kilometers of railways. Additionally it also aims at building 25,000 kilometers of high-level shipping lanes or sea routes. All this it hopes to complete in the next 14 years, i.e. by 2035.
The transpiration network would add up to a total of approximately 700,000 kilometers. Added to this would be 27 main coastal ports, 400 airports for transportation and 80 express centers for transportation.
This will support China’s global 123 rapid logistics circle for goods. The local market will qualify for one day delivery, the bordering countries for two-day delivery and main international cities for three-day delivery.
With this China will be creating the largest transportation system in the world. According to analysts/economists, the plan will considerably lessen transportation times, which would help china’s trade in goods with other major countries. This would especially benefit trade with Asian countries, China shares a land border with.
It is a widely accepted fact that as distances shorten, industry interactions increase. Other economies will move closer to China in distance. Thus making it possible for China to play an imperative role in global trade.
A logistics chain, will sure make China a global production center. It will also promote industrial growth, while making China the world’s economic hub.
This plan of China is also going to create a job market, which will hopefully help the world recession caused by the Coronavirus pandemic. Workers will need to be employed at the new ports, railways and shipping lines.
China was the only economy in 2020, that prevented its economy from the worst effects of the coronavirus pandemic. It was also one of the few countries that were actively participating in providing medical equipment to the less privileged countries. It had shown a tough exterior during the pandemic and even now it shows positive growth as are the other major economies.
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