The Belt and Road Initiative In China's Promotion of Globalization 2.0 and Achieving Common Sustainable Development Goals

The main idea of the paper is to demonstrate how jointly funded projects under the Belt and Road Initiative (BRI) bring mutual benefits to participating African countries, in particular Somalia, Djibouti and Ethiopia. The goal is to give a realistic assessment of the impact of the BRI on the socio-economic development of the participating countries, the promotion of "Globalization 2.0" among them. Methods used are correlation and regression analysis in assessing the BRI direction towards the sustainable development goals. Nonlinear models are proposed by employing the directed enumeration method of power and logarithmic dependences by calculating the deviation potentials. The measure for ensuring the model's accuracy is the least sum of squares of residuals. The considered hypotheses are a) China aims to establish a global community through its BRI, promoting shared human interests. The initiative seeks to raise awareness among countries, nations, and citizens to solve common issues; b) China is deliberately attempting to ensnare African countries in a debt trap through the BRI with the goal of obtaining strategic or political advantage. Based on the example of the countries along the Maritime Silk Road, it is evident that the parties are deliberately working towards connecting Asia, Europe, and Africa through a network of infrastructure projects. This initiative promotes "Globalization 2.0" while aiming to achieve common goals of sustainable development. The assertion that China is attempting to ensnare African countries into a debt trap through the BRI has been disproven. The BRI is a significant infrastructure program with mutually beneficial terms for all participating states. These terms are demonstrated through the trends in macroeconomic indicators of the countries. China aims to establish a global community that fosters interdependence and interconnectedness. Emphasis is placed on adherence to peaceful coexistence, mutual respect, and working jointly towards shared objectives.