BRI offers connection, enablement, coordination synergy approach to development: report

BEIJING, Oct. 18 (Xinhua) -- The Belt and Road Initiative (BRI) offers a connection, enablement and coordination (CEC) synergy approach to development that values the importance of infrastructure, industrial development and the role of government, said a report on the Belt and Road development studies released Wednesday.

The report, titled "The Belt and Road Development Studies -- A Synergy Approach to Global Development," was released by the Xinhua Institute at a thematic forum on think tank exchange during the third Belt and Road Forum for International Cooperation.

The BRI has given rise to a genre of more inclusive and effective development science -- the Belt and Road Development Studies, the report said.

"Connection" in the CEC approach represents the importance of connectivity, and particularly in infrastructure, which promotes the free movement of economic elements worldwide and helps more countries access the global market.

"Enablement" helps developing countries reshape their factor endowment structures and comparative advantages, better participate in the international division of labor and optimize and reshape global production and value chains.

"Coordination" means better inter-governmental cooperation and a synergy of domestic rules and standards.

The approach provides answers for critics of neoliberal economic policies, and addresses global development's two main problems, namely a lack of robust driving forces and uneven development.

To ensure the effective operation of the approach, efforts are needed to redefine the roles of four major development factors: government, capital, society and the ecological environment, with government as an active coordinator of resource allocation, capital as stakeholders of long-term development, members of society the new force of modernization, and the ecological environment the new potential for high-quality development.

In terms of action principle, the BRI emphasizes adapting to local conditions and the compatibility of different development paths, social systems and cultures.

Based on those principles, the BRI comprises two core values: mutual benefit and win-win cooperation as well as people first. It is committed to achieving common development to improve people's livelihoods and creating a more inclusive and dynamic global development landscape.