The Belt And Road Initiative

This timely Research Handbook investigates the radically transformative impact of the Belt and Road Initiative (BRI), addressing key questions regarding its economic, political and strategic consequences: what does the Chinese government hope to achieve with the BRI? How have recipient states responded? And what are its potential opportunities and risks?

This timely book examines the Belt and Road Initiative (BRI), assessing its effect on the international economic order and global governance more broadly. Through a variety of qualitative case studies, the book investigates the implementation of the BRI and evaluates its development outcomes both for China and the countries it interacts with under the initiative, along with its international implications.

This book is an analysis of the developments associated with the Belt and Road Initiative (B&RI) five years after Xi Jinping announced both the Silk Road Economic Belt (SREB) and the 21st Maritime Silk Road (21MSR). Together, these two dimensions constitute the B&RI, providing the so-called Chinese ‘project of the century’ with regional, inter-regional and global reach. This book aims at assessing the impact of the B&RI in all these dimensions and levels of influence. This is a current and promising theme, not only in the short and medium terms, but also within a broader timescale, reflecting Chinese strategic thinking itself, since Chinese philosophy and culture are oriented towards long-term and inter-generational perspectives. Likewise, both the title of this publication and the way it has been organized result from the empirical perception that China asserts a conservative attitude towards foreign affairs, redesigned in multiple dimensions, to create a perception of domestic unity and global prestige. In this vein of thought, the B&RI is already influencing and will continue to influence, directly or indirectly, the current economic and political order.

This book showcases how the People's Republic of China (PRC) has been utilizing the Belt and Road Initiative (BRI) to reshape the global order. Dissecting China's increasingly assertive international behaviour, the book demonstrates how the PRC projects its self-perception onto the international order. The book outlines five aspects of China's international role projection, which the PRC applies selectively, depending on its target audience: (1) The bearer of traditional Chinese culture; (2) The humiliated nation; (3) The socialist state with Chinese characteristics; (4) The developing state and promoter of international development; (5) The authoritarian globalization optimist.Drawing on an in-depth analysis of hundreds of primary BRI documents, the book offers a comprehensive overview of China's most crucial foreign policy agenda item. It demonstrates how, through the BRI, the PRC has introduced mechanisms to the international level, which reflect its domestic policy-making mode. In addition, the PRC has institutionalized the initiative by establishing China-centered BRI networks across a wide range of policy areas. Within those emerging China-centered BRI networks, the PRC systematically increases its international discursive power, for example, by inserting Chinese vocabulary into UN resolutions or by promoting Beijing's approaches vis-à-vis 'the rule of law' across a range of developing states. This book also further discusses the implications of the BRI for the international legal order.

This collection explores the expansion of Chinese outbound investments, aimed to sustain the increased need for natural resources, and how they have amplified the magnitude of a possible international crisis that the People’s Republic of China may face in the near future by bringing together the views of a wide range of scholars. President Xi’s Belt and Road initiative (BRI), aimed to promote economic development and exchanges with China for over 60 countries, necessitates a wide range of security procedures. While the threats to Chinese enterprises and Chinese workers based on foreign soil are poised to increase, there is an urgent need to develop new guidelines for risk assessment, special insurance and crisis management. While the Chinese State Owned Enterprises are expanding their international reach capabilities, they still do not have the capacity to assure adequate security. In such a climate, this collection will be of profound value to policy makers, those working in the financial sector, and academics.

The Belt and Road Initiative (BRI), launched by China in 2013, carries and projects powerful regional dimensions and transformations, with short- and long-term global, national and local consequences. The BRI’s regional significance lies in its designation and creation of several cross-border corridors that originate from inside China and extend out into its neighbouring countries, and those farther afield in Asia, Africa and Europe. Through driving and facilitating new trade and infrastructure connections along and beyond these corridors, the BRI has begun to reshape the master processes of globalisation, urbanisation and development by affecting the economic, social and spatial fortunes of many countries and cities. This book serves two purposes. First, through a new framework and three case studies, it examines the BRI’s impacts on globalisation, urbanisation and development via the China-Europe Freight Train, the paired construction of a new city and railway across the China-Laos borderland and the port-park-city development corridor between Djibouti and Ethiopia. Second, the comparative analysis and evidence guide the book to advance policy recommendations for targeted stakeholders that can potentially turn the BRI into a global public good with greater benefits and fewer risks.

The Belt and Road Initiative (BRI), officially unveiled in 2013, is Chinese President Xi Jinping’s signature foreign and economic policy initiative to achieve improved connectivity, regional cooperation, and economic development on a trans-continental scale. This book reviews the evolving BRI vision and offers a benefit-risk assessment of the BRI’s economic and geopolitical implications from the perspective of Asian stakeholder countries, using both qualitative and quantitative research methods. Among the value added of the book is first an online perception survey of opinion leaders from Asian participating countries on various aspects of the initiative. To our best knowledge, the survey is the first of its kind. Second, the book presents the simulation results of a computable general equilibrium model of the world economy to estimate the potential macroeconomic impacts of the BRI as a whole and those of its constituent overland and maritime economic corridors. Third, the book makes ten key evidence-based policy recommendations on how to enhance the prospect of a successful and mutually beneficial BRI 2.0 to both China and stakeholder countries.

This book introduces the “Belt and Road” in its entirety, including what it is, what it aims to do, what it can do and how. This book can serve as a helpful resource for the general public, it can improve their understanding about the “Belt and Road” and its relative economics, policy, culture and so on. Also, this book is good reading for academics, as well as students of public management, politics, finance and economics. The “Belt and Road” advances a whole complementary set of new ideas on international cooperation. Conforming to the principles of peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit, it stipulates policy coordination, facilitates connectivity, unimpeded trade, financial integration and people-to-people bonds as the five major contents, and promotes practical cooperation in all fields. It also works to build an open and win-win regional community featuring mutual political trust, economic integration and cultural inclusiveness.