THE BELT AND ROAD INITIATIVE: FROM INCLUSIVE GLOBALIZATION TO A NEW STAGE OF HIGH-QUALITY DEVELOPMENT

Proposed in 2013, the Belt and Road Initiative (BRI) has become a major platform through which China participates in global governance reform and promotes international development cooperation. This article reviews the initiative's conceptual evolution and practical outcomes and analyzes its transition from inclusive globalization to high-quality development. It focuses on infrastructure connectivity, trade and investment facilitation, and people-to-people exchange, as well as the Green, Digital, and Innovation Silk Roads. The analysis indicates that BRI cooperation has expanded transport and trade links and created additional development opportunities for participating countries. At the same time, project implementation faces persistent challenges related to debt sustainability, environmental and social impacts, geopolitical uncertainty, regulatory differences, and local institutional capacity. The article argues that the next phase should place greater emphasis on project quality, transparent risk assessment, green and low-carbon development, digital inclusion, and stronger alignment with host-country priorities and international standards.