China's Belt and Road Could Boost Global Trade by 12%, ING Says

China’s Belt and Road campaign could increase global trade by as much as 12 percent by halving trading costs for countries involved in the sprawling initiative, according to an economist at ING Groep NV. The BRI will have a significant impact on transport and trade facilitation expenses, both of which are large factors in final trading costs, Joanna Konings, senior economist for international trade analysis with ING in Holland, said in a June 6 report. “Trade between Asia and Europe, not including trade between EU countries, accounts for 28 percent of world trade, so making those trade flows easier has a large potential impact,” Konings said in the report.