Challenges and prospects of ICT and trade development in Asia

Abstract

Information and communication technology (ICT) is crucial to the development of both developed and developing economies. China’s One Belt and One Road (OBOR) initiatives is a rather ambitious one, towards grooming ICT and economic development. This research article critically examines different challenges and prospects of the OBOR initiative of China. The OBOR initiative proposes significant potential in several fields including information technology, economic, political, cultural and strategic fields, not only for China but for the whole of Asia and Asia-Pacific.

Furthermore, this initiative may help in developing the technological trade and economic cooperation in the Asian region. The study examines different regional and global challenges faced by the initiative. The article also analyzes the future of the initiative in the light of observation and opinions of several related scholars, IT experts, political leaders, journalists, military experts and strategic analysts, and the reports of several non-governmental organizations and agencies. It is deduced from the probabilistic model proposed in the study that the future of the OBOR initiative is more liable to succeed if the factors given in the model became minimized and it will become a gateway for the development of ICT and the associated economy not only for China but for the other emerging Asian countries.