The Chinese project of "One Belt, One Road" (OBOR) has drawn remarkably little attention and comment in the West, especially in the USA. This is surprising, considering its tremendous scope, its implications for a large part of the world (with its potential to transform the lives of a sizable part of humanity), and its geostrategic significance.
Typically, the only voice talking about this (and other developments in China) in a sane and prescient manner is that of Amb Chas Freeman. (The neocons were right ‒ from their perspective ‒ in ensuring in 2009 that he would not be able to officially influence US policy; the loss, a grave one, was their country's). He first talked at some length about OBOR in July 2015, and then again in June of this year. This post should be considered an updated summary; for a more detailed view I would recommend Mr Freeman's 2015 talk.
OBOR seeks to convert the Eurasian land mass into a single economy by interconnecting it with a network of roads, railroads, pipelines, ports, airports, and telecommunications links, and, based on these, to create a series of development corridors containing large zones of productive economic activity (and, ultimately, prosperity).
Supplementing this essentially continental development will be a maritime component (the "Road"), aimed at investing and fostering collaboration in Southeast Asia, Oceania, and North Africa, through several contiguous bodies of water – the South China Sea, the South Pacific Ocean, and the Indian Ocean. This will be achieved by developing suitable (deep water) ports and then building the infrastructure to link them to interior industrial zones and markets, e.g, Piraeus (in Greece), Zarubino (in Russia), Djibouti and Mombasa (in Africa), Kyaukpyu (in Myanmar) and Gwadar (in Pakistan).
Amb Freeman rightly called One belt, One Road "the largest and potentially the most transformative engineering effort in human history".