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Understanding China’s Belt & Road Initiative: Motivation, framework and assessment
Abstract
The Belt & Road Initiative is China’s greatest international economic ambition, aiming at stimulating economic development in a vast region covering sub regions in Asia, Europe and Africa, which accounts for 64 percent of world population and 30 percent of world GDP. The Initiative is devised to reconfigure China’s external sector in order to continue its strong growth. While infrastructure development plays a central role, the Belt & Road Initiative is a comprehensive one, including also policy dialogue, unimpeded trade, financial support and people-to-people exchange. It is too early to assess the impact of this ambitious Initiative. It certainly has the potential of turning the underdeveloped “Belt & Road” region into a new vibrant economic pillar and contributing to economic policy thinking by incorporating successful experiences of emerging market economies. However, the Initiative also faces very high barriers, including lack of central coordination mechanism, potential clash of different political regimes and beliefs and financial viability of cross-border projects.
... The political tensions were most observed between China and the neighboring countries of Central Asia. This project also helped in lowering the threat of terrorism that could be faced in this region (Huang, 2016). According to Osnos (2018), "as Donald Trump surrenders America's global commitments, Xi Jinping is learning to pick up the pieces". ...
... However, many studies showed that the main intend of BRI project was to gain "policy coordination goals, facilities connectivity, unimpeded trade, financial integration, and people-to-people bonds among the partner countries" (State Council, 2017;Shao et al., 2018). According to Huang (2016), the economic growth of a nation is significantly influenced by the investments made in its infrastructure development. Many firms in China were also found to invest in projects of different countries including "high-speed railway, mining, coal, and energy construction." ...
... However, the introduced BRI project in 2013 by the Chinese government was a "new home institutional landscape" introduced as a global strategy (Li et al., 2019). Many scholars believed that the BRI project can play an important role in stimulating the "Chinese ODI" (Du and Zhang, 2018;Huang, 2016). According to Cuervo-Cazurra et al. (2018), the "home-based advantage" plays a significant role in driving the outward FDI. ...
This study investigates the impact of the Belt and Road Initiative (BRI) on the construction sector in Southeast Asia, focusing on Thailand, Malaysia, and Cambodia. Qualitative research approach is used to analyze the implications of Chinese investments in these countries, exploring both the opportunities and challenges faced by Chinese investors. Key research questions address the resilience of the construction sector, the obstacles encountered by investors, and the influence of policy on the construction business. Through interviews with CEOs and senior managers of major construction companies and a review of relevant documents, the study uncovers the economic and geopolitical motivations behind China’s BRI strategy. The findings reveal significant insights into the benefits and drawbacks of BRI financing, providing recommendations for overcoming challenges and leveraging future opportunities in Southeast Asian construction sectors.
... Furthermore, the initiative champions the use of the Chinese Yuan in international transactions, with the objective of lessening reliance on the US dollar and elevating the currency's international prominence. This facet of the BRI not only serves China's economic interests but also has substantial geopolitical implications, challenging the existing global financial order (Huang, 2016;Yu, 2017;Bayari, 2020). ...
... Additionally, establishing mechanisms for stakeholder engagement and dispute resolution can enhance the initiative's accountability and responsiveness to the concerns of affected communities and countries. Importantly, these recommendations align with the opinions of Griffiths (2020), Cooper (2018), Huang (2016), and Callaghan & Hubbard (2016). ...
This paper examines the impacts and implications of the Belt and Road Initiative (BRI) on the global architecture. The BRI's influence extends both in regional and global contexts, with potential indications of a dependency syndrome arising from concerns about debt traps within the Global South regions. Through the use of the dependency theory as an analytical framework, the paper seeks to elucidate the potential implications and impacts of the BRI. Employing a content analysis approach and drawing data from secondary sources, the paper finds the potential of a significant debt trap and economic dependency, as well as the feasible implementation of a counter-hegemonic strategy as policy implications of the BRI. As a result, the paper emphasizes the importance of recognizing the extensive and evolving nature of the BRI's implications. It also prioritizes the need for caution and thorough assessment of the costs and benefits of BRI projects by countries directly involved, ensuring alignment with national develo
... Almost all the experts agree on the point that although the BRI is the sole Chinese intention for increasing its own trade volume, it can have considerable implication for global economy (Afzaal and Naqvi, 2024;Aris, 2016;Hosain and Hossain, 2019;Huang, 2016;Misra, 2016;Plagemann, 2021;Rahman and Ahmed, 2020). The BRI itself intends to increase trade volume and connectivity. ...
... Another issue is the opportunity of generating employment through the BRI-related schemes. However, some experts (Hosain, 2019;Huang, 2016) argue that in many Chinese projects, most of the people involved are brought and employed from China rather than the local ones. This issue can create dissatisfaction among the local unemployed people who have great employmentrelated expectations from such development projects. ...
This paper highlights the opportunities as well as challenges posed for Bangladesh by the Belt and Road Initiative (BRI) of China. BRI is being considered as the most expensive project ever initiated connecting more than half of the world population from Asia, Europe and Africa. For writing this paper, the authors utilized published sources such as journal articles, newspaper articles and web-based information published from 2013 to 2024. The article proposes that although the involvement of Bangladesh in the BRI is not absolutely free of challenges, it can serve the ultimate national interest through greater connectivity with other countries, increased volume of trade and economic activities and socio-cultural exchange. Although, as the originator and major contributor of the BRI, China will be the principal benefiter, other partner countries can also attain considerable benefits out of this historical mega scheme through the application of appropriate vision and strategic implementation. This paper has highlighted those benefits/opportunities and challenges for Bangladesh that can be beneficial for upcoming research projects particularity aimed at development studies, political economy and international relations. On the other hand, based on the arguments made on this paper, policymakers and businessmen can formulate their best policies as well as trading strategies with mutual benefits for all the stakeholders involved.
... This region accounts for 30 percent of the global GDP and is home to 64 percent of the world's population. Additionally, the Belt and Road Initiative (BRI) has the potential to transform the economically depressed "Belt and Road" region into a vibrant hub at the core of the global economy [10]. Another illustration is the Pakistan-China Energy and Economic Corridor (PCEEC). ...
Conflicts and tensions among major powers are often seen as clashes of interests between entities with significant influence. Nevertheless, from a historiographical standpoint, one would challenge the validity of such a simplistic view. The themes of nations that have to be considered full are undeniably formed by comprehensive historical and cultural components. Hence, it is essential to comprehensively evaluate cultural disparities to have a comprehensive understanding of interstate conflicts. This research uses case studies and qualitative methodologies to conduct a comparative analysis of the ideologies and national value identities that underlie Chinese-American interactions during the last decade. It focuses on the cultural distinctions inherited from China and the United States in order to get a deeper understanding of these connections. This research posits that the concept of democracy is firmly ingrained in the cultural and political fabric of these societies, giving rise to divergent ideologies. Numerous pieces of evidence indicate that the cultural aspects of a country significantly influence its political evolution.
... Early studies aimed to elucidate the specific contents of the initiative and ascertain its broader strategic implications (Leonard 2016). Huang (2016) provided an in-depth analysis of the purpose behind the Belt and Road Initiative, while Jiang et al. (2018) offered insights into the developmental stages of the CR Express, comparing its freight cost structure with seaborne container shipping, and examining hinterland patterns using a binary logit model. proposed an incentive-compatible compensation mechanism to enhance CR Express services while addressing adverse selection and moral hazard. ...
This paper investigates the synergistic development of China’s ‘new three’ industries, referring to electric vehicles, lithium batteries, and solar batteries, the China Railway Express (CR-Express), and the China-Europe trade. Using panel data from 2017 to 2023, we first disclose the development trend of ‘new three’ industries and China-Europe trade. Secondly, the synergistic relationship among ‘new three’ industries, and the synergistic relationship CR-Express and China-Europe trade are demonstrated form the spatiotemporal correlations perspective based on correlation and regression analysis. Thirdly, the synergistic development of China’s ‘new three’ industries and the CR-Express trade is evaluated based on qualitative and quantitative analysis method. Our findings show: 1) China’s ‘new three’ industries show an upward export trend to Europe, aligning with the development of the CR-Express; 2) The correlation between the industries exports shows strong interconnections, particularly between electric vehicles and lithium batteries (0.988). Besides, the CR-Express’s export correlation with China-Europe exports is 0.952, demonstrating its role in enhancing trade; 3) A sensitivity analysis of electric vehicle exports via CR-Express suggests the importance of timing for optimising access to European markets. The results underscore how transportation infrastructure and industrial growth can reinforce each other, reshaping trade patterns and offering valuable guidance for policymakers and stakeholders.
... Alguns países dão boas-vindas ao esforço chinês para promover a cooperação e o desenvolvimento regional, por outro lado outros também se preocupam com as possíveis consequências negativas para suas economias domésticas e riscos da estratégia chinesa, como a gestão de riscos geopolíticos, a coordenação de políticas internacionais e sustentabilidade financeira de projetos entre países (Huang, 2016). De certa forma, a promoção das iniciativas pela China é uma demonstração da ambição chinesa em, eventualmente, substituir a ordem econômica liderada pelos EUA. ...
Este artigo trata da ascensão do multilateralismo asiático e sua influência no sistema internacional contemporâneo. O regionalismo asiático ao longo das duas décadas do século XXI ganhou força, adquirindo caráter mais institucionalizado e fortalecendo a cooperação econômica, e política entre os países. Ao localizar o crescimento econômico das nações no pós-Guerra Fria, a institucionalização da cooperação asiática e o fortalecimento dos mecanismos regionais são aqui analisados. Outrossim, este artigo sugere que, hoje, a Ásia tem o mesmo poder de modelação das relações internacionais que os atores tradicionais ocidentais, Estados Unidos e União Europeia. Isso acontece através do estabelecimento de um sistema diplomático, comercial e político centrado na Ásia e do reconhecimento do poder de reorientar as economias e estratégias de outras nações do mundo.
... In specific terms, China's BRI initiative is accelerating its economic influence both regionally and globally. Many governments in developing countries increasingly relied on Chinese financing for their infrastructure projects, thereby enhancing China's impact on the region's economy and supply chains (Huang, 2016). However, if China's financing capabilities were compromised, governments of BRI countries might find it challenging to complete ongoing projects or fund new ones (Lin and Bega, 2021), potentially leading to economic instability and heightened liquidity risks in these developing nations. ...
This paper focuses on the multi-scale spillover and time-varying dependence of Chinese stock market and its important trading partners along the Belt and Road around the COVID-19 crisis. We use multiple methods - the DY (12) and BK (18) connectedness approaches that investigate dynamic and frequency connectedness; the wavelet coherence and the time-varying CoVaR to examine the connection between price lead lags and systemic risk spillovers. Our empirical results show spillovers to be asymmetric, and short-term spillovers dominating. Meanwhile, the level of spillover in the system increased sharply after the COVID-19. In the medium and long-term frequency domains, wavelet coherence reveals strong co-movement between the Chinese market and its major trading partners. We see that the highest level of systematic risk spillovers occurs at the beginning of the COVID-19 outbreak. Finally, the weighting of the Chinese stock market in the effective portfolio rises after the COVID-19 outbreak.
... BRI is a regional cooperation model President Xi of China proposed in September and October 2013 during his visits to Kazakhstan and Indonesia. The initiative aimed to create a Silk Road Economic Belt, after which, in November 2013, President Xi's idea officially became a proposal called the One Belt & One Road Initiative (Huang, 2016). BRI is a network of interconnected economic nodes spanning from China's west to its south and extending to Southeast Asia, South Asia, Central Asia, Russia, Europe, and beyond. ...
This research is motivated by the Belt and Road Initiative program, which aims to create a new trade route connecting China to various countries using the Silk Route. The project was created through cooperation between China and many countries, including Malaysia. Malaysia rejected the BRI in 2018 but continued with a new agreement. This study aims to determine the impact of the BRI scheme on Malaysia's geopolitics and economy. This research employs two analytical lenses: geopolitics and international cooperation. It examines the regional dynamics that have emerged due to Malaysia's partnership with the BRI and assesses the potential impact of BRI at the domestic level. Qualitative research methods were used, and data was collected through library research. The research indicates that Malaysia's geopolitics have shifted following the implementation of the BRI scheme, resulting in an economic upturn through the utilization of the newly constructed infrastructure. BRI has had a positive impact on Malaysia. Specifically, it has led to an increase in container traffic and contributed to the country's GDP. Additionally, the BRI has helped to develop Malaysia's Eastern region. The results of BRI have affected Malaysia's position in both geopolitical and economic aspects within ASEAN. In conclusion, the BRI has positively impacted Malaysia since its reinstatement in 2018. Abstrak Penelitian ini dilatarbelakangi oleh program ambisius Belt and Road Initiative yang bertujuan membuat jalur perdagangan baru yang menghubungkan China menggunakan jalur sutra ke berbagai negara. Proyek ini dibuat dengan kerjasama antara China dengan banyak negara salah satunya Malaysia, keikutsertaan negara lain pada proyek China membuktikan bahwa dampak yang dihasilkan sangatlah besar bagi negara mitra. Malaysia sempat menolak BRI namun dilanjutkan lagi dengan kesepakatan yang baru. Penelitian ini bertujuan untuk mengetahui dampak dari implementasi skema BRI di Malaysia terhadap geopolitik dan ekonomi. Penelitian ini menggunakan dua prespektif, geopolitik dan kerjasama internasional untuk melihat perubahan dinamika kawasan akibat kemitraan Malaysia dengan BRI dan bagaimana BRI dapat berdampak kepada tingkat domestik. Metode penelitian pada penelitian ini menggunakan kualitatif dan pengumpulan data menggunakan metode library research. Penelitian menunjukan bahwa terjadi perubahan geopolitik Malaysia setelah adanya BRI dan peningkatan ekonomi di Malaysia dengan memanfaatkan infrasturktur yang di bangun dengan skema BRI. BRI memberikan dampak positif kepada Malaysia ditandai dengan peningkatan peti kemas, kontribusi proyek pada 109 GDB dan kemajuan kawasan Timur Malaysia. Hasil BRI juga mempengaruhi posisi Malaysia di ASEAN dalam aspek geopolitik maupun ekonomi. Kesimpulannya BRI memberi dampak baik kepada Malaysia sejak BRI di berlakukan lagi pada 2018.
... Besides the application in crop Y estimation, the VI products based on HTR satellite sensors have also been widely used in crop growth monitoring, biomass estimation [15,16], drought monitoring [17,18] and phenology monitoring [19,20]. Compared with the more well-developed RS satellite products in the USA, VI products based on the FY-3 satellites developed relatively late but are now playing an increasingly significant role in agricultural monitoring and meteorological disaster prevention and mitigation in China and other countries in the world, especially the "Belt & Road" [21] countries in Asia, Africa, and South America, etc. [22][23][24][25]. To date, the application of FY-3 satellites in agricultural monitoring has formed a basic operational framework that provides regular services and data support to the relevant departments of countries around the world [26]. ...
The spatial resolution (250–1000 m) of the FY-3D MERSI is too coarse for agricultural monitoring at the farmland scale (20–30 m). To achieve the winter wheat yield (WWY) at the farmland scale, based on FY-3D, a method framework is developed in this work. The enhanced deep convolutional spatiotemporal fusion network (EDCSTFN) was used to perform a spatiotemporal fusion on the 10 day interval FY-3D and Sentinel-2 vegetation indices (VIs), which were compared with the enhanced spatial and temporal adaptive reflectance fusion model (ESTARFM). In addition, a BP neural network was built to calculate the farmland-scale WWY based on the fused VIs, and the Aqua MODIS gross primary productivity product was used as ancillary data for WWY estimation. The results reveal that both the EDCSTFN and ESTARFM achieve satisfactory precision in the fusion of the Sentinel-2 and FY-3D VIs; however, when the period of spatiotemporal data fusion is relatively long, the EDCSTFN can achieve greater precision than ESTARFM. Finally, the WWY estimation results based on the fused VIs show remarkable correlations with the WWY data at the county scale and provide abundant spatial distribution details about the WWY, displaying great potential for accurate farmland-scale WWY estimations based on reconstructed fine-spatial-temporal-resolution FY-3D data.
... It will also critically examine the aforementioned possibilities and limitations within this framework. There is a vast literature on the content and magnitude of the Belt and Road Initiative, the roads, bridges, ports, railways built within the scope of the project, and the economic cooperation agreements and partnerships established that give meaning to all these (Liu and Dunford, 2016;Huang, 2016;Dunford and Liu, 2019;. Similarly, there have been many detailed analyses on the possible effects of BRI on China's growing economy and its power struggle with the West (Li, 2020;Flint and Zhu, 2019;Zhao, 2021;. ...
... However, the project has since expanded and extended to Africa, Latin America and Oceania, broadening China's economic and political influence. The BRI has attracted 147 countries accounting for two-thirds of the world's population, 32 international organisations that have signed cooperation agreements and 40% of global GDP have subscribed to projects or shown interest in the initiative (Huang 2016 ...
This article analyses China’s Belt and Road Initiative (BRI) of 2013–2023,
which serves as its economic diplomacy tool in the 21st century. The BRI
reflects China’s soft power, which targets redefining the international eco
nomic order to serve its interests both economically and strategically. This
article aims to identify the core motivations behind China’s BRI, its impact,
challenges, and policy implications. To explain the rationale behind the
BRI’s emergence, the article uses the Hegemonic Stability and Neoliberal
theories as an analytical framework. The content analysis method was
used, and data was obtained from secondary sources. The analysis shows
that the BRI is a manifestation of China’s global aspirations and strategic
maneuvers. The initiative serves as a geopolitical tool to increase China’s
global influence while enhancing economic cooperation. The BRI has led
to both positive and negative outcomes. This article predicts that the Glob
... As a testament to China's increasing international aspirations, President Xi Jinping inaugurated the Belt and Road Initiative (BRI) in 2013 during his visits to Kazakhstan and Indonesia [1]. After a decade, China's "project of the century" has grown into one of history's most ambitious international initiatives, with total financing of over $1 trillion across 150 countries with signed BRI agreements [2]. ...
China’s global infrastructure financing flagship, the Belt and Road Initiative (BRI) encompasses countries hosting over 60% of the global population and one-third of worldwide GDP. It is based mainly on long-term loans that will mature decades into the future, and timely repayments are only possible if they remain commercially viable. But despite its vast global scope, little is known about the climate risks that could imperil the operations of BRI projects over the next few decades, and, consequently, threaten their long-term sustainability. We narrow this gap by estimating the impacts of future climate change on 217 BRI projects across 70 countries and 9 sectors in two dimensions. First, the effects of increased heat stress on human physical work capacity are calculated using the wet bulb globe temperature and an assessment of the workload for each selected BRI project. Second, the potential structural damages from more frequent flooding incidents are measured by return period (RP), where a shorter RP signals heightened risk. Both have direct impacts on human productivity and infrastructural integrity, which are essential to maintaining the operational viability and financial stability of BRI projects. We compared projected changes on both measures for the mid- and late-twentieth centuries (2041–2060 and 2081–2100) to the historical baseline (1981–2010). We found that BRI projects face escalating vulnerability to climatic risks on both counts. The results underscore a broad variance across different future carbon emission scenarios measured under the Shared Socioeconomic Pathways (including SSP1-2.6, SSP2-4.5, SSP3-7.0, and SSP5-8.5). BRI’s aggregated climatic risks are substantially elevated under a high carbon emission scenario compared to a low emission scenario. By the end of the twentieth century, labor workability under SSP3-7.0 (31%) could potentially decrease three times more compared to SSP1-2.6 (10%). Under an intermediate-emission scenario (SSP2-4.5), floods with a historical return period of 10 years could have a return period of 5 years in the future. Significantly hampering the utilization and economic return generation potential of infrastructure projects. In addition, regional geography contributes to risk heterogeneity, with 100-year floods occurring every 15 years in South Asia and every 24 years in Sub-Saharan Africa. Such climate risk implications, potentially overlooked by development financiers, represent significant risks to the sustenance of the BRI, estimated to be worth $1 trillion.
... The BRI was proposed in September 2013 by China's president Xi Jinping. The main purpose was to increase regional economic cooperation in Southeast Asia, as well as other parts of the world, by expanding China's investment and trade with developing countries that lie along the BRI routes between China, Central and Southeast Asia, and Europe (Cheng 2016;Huang 2016). This will not only help to reduce the risk of an economic slowdown in China caused by the high overcapacity in the manufacturing sector, but will also promote economic and infrastructure development in low-income countries along the BRI routes. ...
The huge gap in economic development between developed countries and developing countries has negative impacts on globalization’s contribution to the world. To promote socioeconomic development in Southeast Asia and narrow the gap between rich and poor countries, China implemented the Belt and Road Initiative (BRI). However, perceptions of the BRI around the world are polarized. We used Hsiao–Ching–Wan empirical analysis to provide a more objective way to interpret the BRI and found that the initiative achieved a positive average treatment effect (i.e., a beneficial policy response) of 14.8% for China’s real GDP from 2014 to 2018, of 82.0% for real investment, and of 129.6% for real net exports. Using Kazakhstan and India as examples of member BRI countries and non-member countries, respectively, BRI also achieved a positive average treatment effect of 13.2% and 2.1% for real GDP, respectively. Thus, the BRI is a win–win initiative for both members and non-members. Our analysis, combined with the current situation and our review of other studies, showed that a lack of confidence in the BRI by some countries has slowed BRI’s development. China and other developed countries should therefore make greater efforts to promote development in poor countries along the BRI routes and improve the common development of all humans.
... In China, the railway has played a critical role in the rapid socio-economic development (Cui et al., 2021). In the context of the Belt and Road Initiative (Huang, 2016) and the "Two Horizontal and Three Vertical Urbanization Belt" development strategy ("https://www.gov.cn/gongbao/content/2014/ content_2644805.htm" ...
Introduction
Transportation corridors, as special economic corridors, have a greater impact on land cover and landscape pattern changes.
Methods
Therefore, 10 buffer zones were established at 1 km intervals on both sides of the Longhai Railway as the centerline to trace the impact of the railroad corridor on the land use change and regional landscape pattern change of the cities along the line from 1985 to 2020.
Result
The results show that: (1) The land cover changes along the railroad corridor during the 35 years are mainly characterized by the conversion between cropland, grassland, and construction land. Compared with 1985, in 2020, the construction land increased by 161.96%, the grassland area decreased by 11.83%, and the cropland area decreased by 15.83%. (2) The fragmentation of land patches and vegetation coverage is negatively and positively correlated with the buffer zone distance, respectively. In the same year, the comprehensive land-use dynamic degree is smaller as it is further away from the railway. The nighttime light index in the buffer zone is significantly correlated with the land aggregation index and average patch area, and the closer to the railroad, the higher the land aggregation index of construction land. (3) In terms of zoning, the intensity of land cover and landscape pattern changes in the eastern section is higher than that in the western section, with a higher degree of land fragmentation and more agglomeration of construction land, and the transportation corridor has a greater impact on the change of integrated land use motives in this region. The results of the study can provide a scientific basis for optimising the spatial pattern of land and improving the ecological environment in the construction of cross-regional transport corridors.
... China's overseas' investments have risen fast since the 2000s. Chinese corporate and state actors have funded and constructed hundreds of major railway, port, mining, and dam projects, partly through the Belt and Road Initiative (BRI, see Huang, 2016). The mining industry has been central to China's efforts of 'going global.' ...
As China's investments are rising fast across the globe, we examine the circumstances under which Chinese mining companies concede to protest. While scholars have already identified success conditions of such struggles, it is unclear if these conditions apply to Chinese cases as well. More so, some research suggests that Chinese business practices fundamentally differ from others. Therefore, we seek to better understand Chinese corporate responsiveness by examining major mining projects from Guinea and the Democratic Republic of the Congo (DRC). Our analysis draws on protest event data (collected from news and social media), interviews, and further sources to trace protests and company responses. We find that Chinese mining companies indeed concede under similar conditions as Western and other companies: recurrent disruptive actions, pressure from state actors and NGOs, and reputational concerns are key factors for their responsiveness. As we discuss, however, reputational vulnerabilities, which result from global supply chains and transnational activism, are differently distributed in the Chinese case, which undercuts the responsiveness of some major Chinese miners.
... The BRI can be best defined as a socio-economic connectivity strategy that resurrects old trails of international commerce used during the ancient Silk Road. They are not just limited to the creation of infrastructure but also to encouraging policy coherence among member countries, improving trade and investment, encouraging the integration of the finance sector, and cultivating people's relations (Huang 2016). Promising to form as many railways, highways, harbours, and digital roads as possible so that geography cannot limit business deals, capital, and ideas, BRI aims to make them flow more easily. ...
The China-Pakistan Economic Corridor (CPEC) is a flagship project of the Belt and Road Initiative (BRI), significantly enhancing cooperation and interconnectivity between Pakistan and China. This $62 billion initiative, spanning communication infrastructure, energy, telecommunication, industrial zones, and Gwadar Port, is not just an economic endeavor. It holds immense strategic importance for both regional and extra-regional countries. By enhancing trade routes and transforming Pakistan’s geostrategic importance, particularly through the link between Gwadar Port and Xinjiang, CPEC provides China with direct access to the Arabian Sea. This paper delves into how CPEC strengthens bilateral ties between China and Pakistan, contributes to regional economic and political stability, and serves as a model for international collaboration. The project’s success is underpinned by infrastructure improvements, energy investments, and an expanded transportation network, positioning Pakistan as a key player in global trade and furthering China’s geopolitical and economic ambitions. Beyond development, CPEC fosters a new era of bilateral cooperation and shared strategic objectives, serving as a beacon of international collaboration.
... As an open and promising international platform, the B&R does not set geographical boundaries for countries to join (Battamo et al., 2021;OECD, 2018). By the end of June 2023, China had already signed cooperation agreements with 152 countries to jointly participate in the construction of the B&R, covering over 60% of the population and 30% of the GDP in the world (Huang, 2016). Meanwhile, coastal countries of the B&R are rich in marine fishery resources and vital global regions for the production and consumption of marine products. ...
Marine fishery is a crucial component of marine living resource utilization, directly affecting marine ecosystems, human food and nutrition security, and fishermen’s livelihoods. It is important to focus on the ecological sustainability of marine fishery. This study took coastal countries of the Belt and Road (B&R) as study areas, and analyzed the spatial–temporal evolution and future trend in the marine fishery sustainability by ecological footprint (EF) model based on the component approach, and exploratory spatial analysis tools. Results showed that from 1990 to 2020, marine fishery total EF in study areas had a fluctuating growth, and capture fishery and aquaculture accounted for the vast majority. Per capita EF of both showed a scissor-shaped growth trend. Meanwhile, marine fishery total EF presented a spatial distribution pattern of "high in the north and low in the south, high in the east and low in the west", with significant spatial clustering modes of "HH" and "LL". The trajectory of its gravity center was continuously approaching the direction of China, and the area of the standard deviation ellipse was gradually diminishing, meaning that spatial clustering features were strengthened. Additionally, marine fishery total EF from 2024 to 2035 would continue increasing, albeit at a potentially slower pace. Therefore, some policy recommendations for cross-border cooperation, the entire fishery industry chain and technological innovation were proposed. These findings enriched the theoretical system of existing studies, and provided decision-making references for the sustainable development and cross-border cooperation of marine fishery between China and the B&R coastal countries.
... This has led to technological prosperity within the industry, resulting in a positive development trend for "manufacturing makes cities rich" (Huang, 2022 We continue our discussions on the social effects of the decline in manufacturing employment. By using regression analysis (Table 10) limited to the sea to encompassing both the sea and the Eurasian continent (Huang, 2016). As a result, the west side of the Hu Line, which serves as China's gateway to the Eurasian continent, has seen new development opportunities. ...
The decline in manufacturing employment has emerged as a global demographic phenomenon in recent decades. However, previous research has primarily focused on the national level, resulting in limited geographical insights into the spatial variations of this decline at more minor scales. Our paper decodes the long-term geographical process of manufacturing employment decline at the city level in China from an "industry-population-place" perspective, underscoring the pivotal role played by technological advancements. The results show that, during 2000-2010 and 2010-2020, the unbalanced changing pattern of China's manufacturing employment appeared to be a disruptive reallocation. The technology-driven transition of manufacturing employment decline at the city level in China was identified. During 2000-2010, over 60% of cities experiencing a decline in manufacturing employment were technologically lost, while technological density improvement became the "main melody" in most cities experiencing such decline during 2010-2020. In a city experiencing such a decline, the greater the improvement in technological intensity, the stronger the positive effect of the decline on local economic development, particularly when accompanied by an expansion in the socioeconomic scale of the city. Furthermore, we observe changes in the characteristics of manufacturing employment on the west side of the Hu Line between 2010 and 2020, compared to previous years and even decades. These changes are characterised by a significant increase in manufacturing employment and the rapid technology-driven transformation of cities that have experienced a decline in manufacturing employment.
... It is expected that this will increase further depending on governmental economic policies and political stability among other factors such as conflict resolution between China and other competing investors. Growing tensions and conflicts have been reported in several studies done on the BRI in developing countries across the globe, and an effective means of handling these conflicts in BRI host countries will depend largely on existing regulatory policies and the rule of law among other factors (Hillman, 2018;Huang, 2016). ...
Sub Saharan Africa (SSA) is receiving increased investments in the energy sector under the belt and road initiative (BRI) project since its inception in 2013. SSA has a worse energy efficiency ratio coupled with deficient electricity access, through analysis showed varied impacts on the SSA countries due to the BRI initiative. This study dilves into the influencing factors for Energy Efficiency (EE) in 38 SSA countries, applying the probit and logit approach for 2000-2018. The Multiple-regression model shows significant results of some variables such as foreign direct investment, gross domestic product, and port infrastructure quality being significant on EE under BRI initiative countries. However, the logit and probit models produce similar results and the marginal effect for the entire variable, except energy imports that do not likely impact EE. Furthermore, the interaction of quality of port infrastructure and foreign direct investment variables produces significant results, highlighting the increased investments SSA receives under the BRI initiative in the energy and transport sectors. The model Percent correctly predicted (PCP) value was about 84%, indicating it correctly classified the variables and about 16% not classified. The study recommends EE performance standards should be incorporated on energy projects in SSA to ensure that these projects are energy efficient and decouple SSA's energy demand from economic growth. The research proffers suggestions for policy regarding the BRI initiative in SSA and the implications on sustainable energy and building a community with a shared future.
... The BRI as a Soft-Power Tool The BRI has been described as the normative link between China's domestic development and its global orientation (Huang, 2016;Johnson, 2016). On the one hand, some analysts suggest that it reflects a shift from "keeping a low profile and biding its time" to becoming a global leader whose norms and rules are duly reflected in international institutions and a "game maker" (Qiu, 2015). ...
This article analyses how the Belt and Road Initiative (BRI) is used as a tool to spread Chinese normative language and soft power in the European Union (EU), as well as the potential governance effects of the BRI. Through in-depth elite interviews and comparative qualitative analysis of the BRI Memoranda of Understanding (MoUs) between EU countries and China, it provides a comprehensive overview of the content of the MoUs, most of which are not publicly available. It finds that, while little normative influence can be seen, the MoUs represent a partially successful exercise of soft power. However, growing scepticism and even resentment towards China are emerging among EU BRI countries. This, paired with the securitisation of Chinese foreign direct investment that originated from the paradigm shift in EU trade policy towards economic security, has led to greater unity in the EU and a more antagonistic vision of China by its Member States.
... The Belt and Road Initiative (BRI) involves a massive development of transnational construction among the countries along this trade route [1]. Construction firms with cutting-edge management concepts, advanced technologies, and standardized construction methods are playing an increasingly important role in the international engineering, procurement, and construction (EPC) market. ...
Compared with an ordinary prefabricated housing project (PHP), a transnational PHP tends to involve more uncertainties, with major stakeholders residing in different countries. This study proposes a novel digital project management framework that integrates building information modeling to enhance information utilization. This framework also incorporates innovative design concepts of modulor, modulus, module, model, durability, and recyclability for enhanced user comfort, housing industrialization, and extended lifespan. It was demonstrated how planning, design, manufacture, and transportation processes can be streamlined in transnational PHP delivery. A case study was performed in a typical transnational PHP between the Kingdom of Saudi Arabia and China for validation. By applying the framework, this PHP could install a single house within 24 h, improve precast level by about 20%, and reduce project cost per square meter by 5.2%, because of integrated design concept, reduced labor cost, effective material cost control, and enhanced information management.
Within the complex framework of international political economy, the continued focus on climate change and environmental degradation has spurred the rapid development of green trade. Sovereign states are promoting the cross-border flow of environmentally friendly goods and technologies through the implementation of green trade policies, aiming to accelerate the growth of the green trade system. However, the advancement of green trade faces multiple challenges, such as the inconsistency of international green standards, the relatively high costs of green products, and consumers’ lack of awareness about eco-friendly products. Utilizing the theoretical framework of international political economy, this study explores the interrelationship between green trade and climate change, analyzing how to overcome these challenges from both domestic and international obstacles could potentially reverse the current adverse trends. Particularly, it examines how political uncertainty and the global free-rider problem act as moderating variables in the relationship between green trade and climate change, thereby affecting the dynamic interaction between the two. Relying on this theoretical framework, the study conducts regression analysis using data from member countries of the Regional Comprehensive Economic Partnership (RCEP) and finds that the initial stages of green trade may have a negative impact on the climate, and its relationship with climate change follows the environmental Kuznets curve, which will mitigate climate change in the long term. Furthermore, the study concludes that political stability and digital technology can reverse the negative impacts of green trade on the climate, thereby ensuring that green trade can genuinely support the goals of environmental sustainability.
This paper leverages firm-level data to examine the impact of the US–China trade war on the greenfield investment of Chinese investors. Our research yields a few interesting findings. Importantly, our longitudinal analysis of Chinese greenfield investment projects yields evidence that the tariffs have dampened overall Chinese investment. Further analyses for different world regions indicate that while the tariffs have generally had a chilling effect on Chinese investment in most world regions, they may have prompted Chinese investors to engage in “tariff-jumping” in the United States. Our analysis further shows that the trade war may have incentivized Chinese investors to increasingly invest in countries with good political ties with Beijing, presumably as a buffer against potential downturns in bilateral relations. It may also have contributed, at least in part, to a reduced willingness by Chinese state-owned enterprises to engage in overseas investment. However, we found no evidence that the tariffs have led to a perceptible shift in China's investment flows toward BRI countries. Overall, these findings help to illuminate the extent to which policies of “decoupling” may have induced shifts in Chinese investors’ investment patterns, at least in the short-run.
Bu çalışmada, Çin Kamu Diplomasisinin en önemli ve en geniş projeksiyonlu yapı taşlarından biri olan BRI (Belt and Road Initiative) çerçevesinden Doğu Akdeniz’in önemi ve ABD-Çin küresel rekabetinin literatür, dünya siyaseti ve küresel düzen içindeki yeri anlaşılmaya çalışılacaktır. Konunun önemi ve genişliğine binaen öncelikle BRI ile ilgili detaylar ve ortaya koyduğu geniş vizyon aktarılacaktır. Çin Devleti’nin önceden Bir Kuşak Bir Yol (One Belt One Road – OBOR) Girişimi olarak isimlendirdiği girişimi, ‘bir’ ifadesinin yanlış anlaşılabileceği görüşü üzerine BRI olarak değiştirmesi, Çin’in yumuşak güç algısına verdiği önemi bir kere daha ortaya koyan bir durumdur. Çalışma BRI’nin geniş perspektifini ortaya koyduktan sonra Doğu Akdeniz’in bu proje açısından önemine ve ABD-Çin rekabeti içindeki yerine yoğunlaşacaktır. Ana kaynak olarak literatürde yer alan tartışmaların yanı sıra, konu ile ilgili ileri gelen basın yayın kuruluşu yorumlarından, uluslararası yayınları ve haberleri içeren ampirik verilerden faydalanmıştır. Çalışma metodolojik olarak nitel bir araştırma olarak tasarlanmış ve çalışmada doküman analizi yöntemi kullanılmıştır.
Sustainable development and international relations are increasingly intertwined as global challenges demand cooperative solutions that balance security priorities with environmental goals. The evolving nexus between sustainability and geopolitics underscores the need for comprehensive strategies that integrate environmental stewardship into national and global security frameworks. This study explores the interplay between these domains, highlighting the critical role of international institutions, policy frameworks, and collaborative initiatives in achieving sustainable outcomes. It examines key issues such as climate change-induced security threats, resource conflicts, and the geopolitical dimensions of renewable energy transitions. By analyzing case studies of international agreements and cooperative efforts, the research identifies effective mechanisms for aligning security objectives with environmental imperatives. Emphasizing the importance of multilateralism, equitable resource allocation, and technology transfer, this study advocates for policies that foster resilience, promote sustainable development, and mitigate environmental risks while addressing geopolitical tensions. Ultimately, the research underscores the transformative potential of aligning security strategies with sustainability goals to address global challenges collaboratively and equitably.
Global financial crises have long been central to discussions in international political economy, highlighting the intricate link between financial markets, political structures, and economic stability. This paper explores the causes, consequences, and responses to major global financial crises, focusing on how these events have shaped the modern international economic system. Through the lens of past crises such as the 2008 Global Financial Crisis (GFC), the 1997 Asian Financial Crisis, and the 1980s Latin American debt crisis, the study examines the role of financial deregulation, speculative practices, and institutional weaknesses in exacerbating economic instability. Additionally, it analyzes the political dynamics, including policy responses by national governments, international institutions, and the shifting balance of power between global economic actors. The paper further discusses the evolving nature of global financial governance, assessing the effectiveness of reforms implemented after past crises, such as the Basel III framework and the strengthening of the International Monetary Fund (IMF). Finally, it draws lessons for future stability, emphasizing the need for robust regulatory frameworks, enhanced international cooperation, and greater resilience in financial markets to prevent future crises. By understanding the interplay of economic, political, and institutional factors, this paper offers valuable insights into building a more stable and sustainable global financial system.
Sanctions have become a central tool in international diplomacy, used by governments and international bodies to influence the behavior of target states or entities. These measures, which can range from trade restrictions to asset freezes, are often deployed in response to perceived violations of international law, human rights abuses, or threats to global security. The effectiveness of sanctions in shaping foreign policy, however, remains a subject of significant debate. This paper examines the economic impact of sanctions on target nations, exploring both the intended and unintended consequences. While sanctions are designed to impose economic pain on the target state, forcing political change or compliance with international norms, their success is often contingent upon several factors. These include the level of multilateral support, the resilience of the target economy, the strategic objectives of the sanctioning nation, and the ability of the target state to circumvent sanctions through alternative partnerships. Through case studies, such as those of North Korea, Iran, and Russia, this paper evaluates the varying degrees of success sanctions have had in altering state behavior. The analysis also highlights how sanctions can have broader geopolitical implications, potentially harming the interests of the sanctioning countries or their allies. While sanctions can exert significant economic pressure, their overall effectiveness in shaping foreign policy depends on the political context, the unity of the international community, and the ability of sanctioned states to adapt to the economic challenges they face. Understanding the economics of sanctions is crucial for assessing their utility and exploring more effective alternatives in influencing global politics.
Energy politics is undergoing a profound transformation as the world shifts toward renewable energy sources in response to climate change, energy security concerns, and technological advancements. The transition from fossil fuels to renewables-such as wind, solar, and hydroelectric power-has significant geopolitical implications that are reshaping the global energy landscape. Historically, energy resources like oil, natural gas, and coal have been central to geopolitical power dynamics, with energy-rich nations wielding considerable influence over global politics. However, the growing demand for clean energy and the technological advancements in renewable energy production are altering the balance of power. As countries invest in and prioritize renewable energy infrastructure, new patterns of energy trade, competition, and cooperation are emerging. Nations that possess abundant renewable energy resources, such as wind-rich regions or areas with significant solar potential, are becoming key players in the new energy geopolitics. Furthermore, the renewable energy transition is bringing to the forefront issues of energy storage, rare-earth materials, and supply chain dependencies, which have their own geopolitical dimensions. In this context, the geopolitical implications of renewable energy transitions are multifaceted, influencing international relations, global trade, and security concerns. While the transition holds the promise of mitigating climate change and reducing dependence on fossil fuels, it also presents challenges related to resource competition, energy access, and the role of international institutions in managing these changes. This paper explores the evolving energy geopolitics, examining the shifting power structures, economic opportunities, and emerging challenges in the global energy system as renewable energy becomes a central component of national security and foreign policy agendas.
This study examines economic growth, energy consumption, financial development, trade openness, urbanization, and environmental degradation in 47 Belt and Road Initiative (BRI) countries from 1980 to 2022. Panel unit root tests (LLC, IPS, ADF, and PP) ensured data correctness and stationarity. Three co-integration tests examined the variables' connections. Difference of means (DOLS) and functional moment (FMOLS) tests examined BRI economies' co-integration. A paired Granger causality test found bidirectional correlations between CO2 emissions, urbanization, financial development, economic growth and the creation of gross fixed capital. Trade openness only correlated with ecological well-being. International study suggests regional, state, and federal policy implications. The empirical investigation used a panel causal heterogeneous test, dynamic ordinary least square (DOLS), and fully modified ordinary least square (MOLS) with fixed and random effects. Trade openness negatively affected CO2 emissions, but all other regressors positively affected environmental quality. Good governance and country-specific policies are needed to maximize BRI advantages. Despite conflicting energy statistics, the study found that economic development hurt the environment in all 47 countries. Industrialized nations generally use renewable energy, which minimizes ecological issues, hence their omission from the BRI full panel may explain the negative coefficient. Since most BRI economies are in emergent and growing countries, environmental preservation and renewable energy technologies need more time and money. Instead of coal, the Chinese government and other BRI nations are urged to invest in wind, hydro, solar, and biomass. Sharing green energy technology might help BRI economies. Cross-national urbanization strategy should incorporate eco-friendly solutions. The panel and governments may utilize the paper's substantial policy recommendations.
The induced innovation hypothesis, initially proposed by Sir John Hicks, posits that as the cost of energy rises compared to other input factors, firms are motivated to engage in innovative practices to counteract the increased expenses related to energy consumption. This innovation can manifest through the development and implementation of technologies, processes, or methodologies that enhance energy efficiency or diminish overall energy dependency. In this study, we empirically examine and validate this hypothesis. By theoretically modeling how innovation responds to elevated energy costs, we exploit China’s substantial surge in energy demand as an external shock to global demand, to empirically test the predictions associated with our theoretical framework. We test these predictions using firm level data in Belt and Road Initiative (BRI) countries. Our findings strongly support the induced innovation hypothesis, revealing that, on average, a 1 percent rise in the relative cost of energy corresponds to a 2.1 to 5.1 percent increase in the likelihood of innovation in energy-exporting countries and a 0.5 to 3.6 percent increase in non-energy-exporting countries. These results are robust to various methodological variations and data restriction exercises.
JEL Classification: D22, D24, O13, O14
Wisdom tradition or Sufism, expressed as an expression of the mystical perspective in the Islamic cultural world, has been accepted as one of the ways to reach God. Many mystics (sufists) gave importance to discipline the soul by turning to the inner world and trained those who adhered to them in this direction. Some mystics, on the other hand, did not content themselves with only self-discipline, but showed some miracles and extraordinary experiences and stated that a divine experience would lead to the experience of unity (vuslat). In Sufism, the experience of miracles, as a fruit of self-discipline, are concrete examples that express reaching unity from multiplicity to unity and form to meaning in the soul struggle of a saint/murshid. These experiences, which cannot be expressed in words and are intended to affect various natural events, are the powers that the saint obtains as a result of his encounter with God directly, without any intermediary. These experiences are just like the miracle experiences of the prophets. In this respect, the experiences of the Sufis become more realistic by transforming from a subjective to an objective experience, turning into a verifiable/provable form. Since miracles appeal to the senses and the mind, mystical experiences become epistemologically valuable. In this study, the place of the miracle-type experiences of the famous mystic Hasan Baba (Hasan Hâce b.Yusuf) (d.1441), who lived in Balıkesir in the 15th century, in the gnostic tradition will be touched upon, and its value in terms of religion, religious experience and knowledge will be tried to be revealed.
The purpose of the article is to identify current problems and thematic areas of financing infrastructure projects. To do this, both a systematization of approaches is carried out on the basis of thematic analysis and a review of Russian and foreign sources is done. A methodological plurality of definitions of the main categories was discovered. Inductively identified thematic areas of research cover: general trends in the development of types of economic infrastructure, microanalysis of the creation of specific infrastructure facilities and local needs for infrastructure development, local economic impact of individual types of infrastructure, cross-sectoral effects of infrastructure development, integration aspects of the creation of infrastructure facilities, infrastructure in the context of sustainable development, features of instruments and forms of financing infrastructure projects, infrastructure facilities as a separate class of investment assets.
Australian‐funded development programs aim to support the needs of partner governments but ultimately advance Australiaʼs national interests. This research unpacks this discourse on the major Australian‐funded infrastructure development programs in Papua New Guinea. It has two key findings: first, the way program reporting speaks about geopolitics is implicit, while partnerships are made explicit. DFAT speaks between the lines on geopolitics in aid. Yet, external media and the aid community outside government bureaucracy are quick to speculate about links between the two. Second, political “goals” are achieved everywhere, and not through DFAT effort alone. In this dataset, individual advisers are a key vector of this under‐reported influence. They often perform as political actors despite their position outside formal aid structures. Ultimately, actors are aware of the many aims of the aid program yet seem to make only a certain portion explicit and visible, just to ensure things work in practice.
Since the inception of the Belt and Road Initiative (BRI), China’s trade relations with participating nations have experienced substantial growth. This study utilises data from the World Trade Organization (WTO) covering the years 2003 to 2021 to explore the dynamics of China’s foreign trade and assess the impact of the BRI on trade interactions with China. One of the central objectives of our research is to determine whether participation in the BRI has significantly contributed to trade growth with China, thereby strengthening economic ties and fostering bilateral cooperation. Another important objective is to analyse the changes in the BRI’s role in driving global economic growth amid China’s slowing growth. Through empirical analysis using data from over 180 countries, we evaluate the heterogeneous effects of the BRI across different continents. Our findings indicate that the BRI has had the most pronounced trade-stimulating impact on the continents of America, Europe and Africa, while trade volumes with Asian countries have seen only marginal increases. The relatively smaller trade growth in Asian countries can be attributed to the already high volume of trade activities due to their geographical proximity to China, which diminishes the marginal impact of the BRI. Additionally, the significant infrastructure investments under the BRI have been predominantly directed towards Africa and Europe, further explaining the smaller trade-enhancing effects observed in Asia compared to other continents. Furthermore, we identified the spillover effects of the BRI on non-participating countries. Moreover, significant differences in the BRI’s impact on global economic growth were observed before and after China’s economic slowdown. This article offers actionable policy recommendations to inform future decisions based on these findings.
This study delves into the realm of Sino-Japanese reactive diplomacy within the context of Bangladesh. It primarily examines their engagements through the Belt and Road Initiative (BRI) and the Free and Open Indo-Pacific (FOIP) vision. The study evaluates these diplomatic efforts’ economic upshots in a continuously changing regional context. The contest between China and Japan for influence in Bangladesh has grown in the last few years due to the country’s constant economic growth. This study investigates how both nations use reactive diplomacy, reacting to each other’s actions and changing tactics to support Bangladesh’s economic growth. The Chinese government has invested significantly in infrastructure-related
projects in Bangladesh as a part of the BRI, and Japan’s FOIP strategy strongly emphasises connectedness and high-quality infrastructure. This dichotomy of approaches leads to an intricate web of interactions with local stakeholders, reflecting diverse economic implications. However, the study emphasises how crucial it is to examine Bangladesh’s strategy for navigating this diplomatic rivalry—that is, how to balance the economic gains from bilateral investments while avoiding undue reliance or political entanglements.
This article examines the transformative role of connectivity politics amid global upheaval, focusing on China’s Belt and Road Initiative ( BRI ) and Western connectivity strategies. It explores how China’s strategic use of connectivity has enabled it to navigate crises and exert global influence, while also analyzing the strengths and weaknesses of both Chinese and Western approaches. The article highlights the importance of multilateral collaboration, environmental sustainability, local empowerment, and adaptive policies for future connectivity initiatives. By synthesizing lessons from both the BRI and Western models, the article proposes a balanced and sustainable framework for global development, offering insights into fostering a more interconnected, equitable, and resilient world.
Purpose
In this study, it is analyzed the validity of the exchange rate pass-through (ERPT) effect and the effect of interest rate and output level on the inflation rate (IR) in Brazil, Russia, India, China and Turkey (BRIC-T) between the years 1995Q1 and 2022Q4.
Design/methodology/approach
The methods such as the panel unit root test developed by Westerlund (2012), the LM bootstrap panel cointegration test developed by Westerlund and Edgerton (2007), the common correlated effects (CCE) estimator developed by Pesaran (2006) and the augmented mean group (AMG) estimator developed by Eberhardt and Bond (2009) that take into account the cross-section dependency are applied for analysis.
Findings
As a result of the findings, it is determined that the ERPT effect is valid in Turkey, Brazil, Russia, India and China and the cost channel is valid only in China. Finally, it is found out that output level positively affects inflation in Turkey, Brazil, Russia, India and China.
Practical implications
All these results indicate that the economies of Turkey, Russia, Brazil and India have a fragile structure, especially in terms of inflation. Therefore, the central bank of these countries should maintain exchange-rate stability to implement the inflation-targeting strategy successfully. In this context, central bank independence should be increased in these countries in achieving this objective. Also the results indicate that it is still early to consider whether BRIC-T countries and accordingly the Belt and Road Initiative will be an alternative against the domination of the USA and European Union (EU) on international trade system or it will substitute them.
Originality/value
In this study, it is tested that the impact of interest-rate (NIR), exchange-rate (FER) and output level (IPI) on general level of prices. Besides, it is analyzed that whether production level affects the IR. Also, the study investigates the economic issues such as ERPT effect and cost channel. The study analyzes whether China's Belt and Road Initiative is successful or not. In this study, we used the panel data methods that allow for structural breaks and cross-section dependency. For these reasons, this study differs from other studies in the literature both in terms of scope and methods used.
This article examines the state and prospects of relations between the Republic of Azerbaijan and the People's Republic of China. While studying the issues of cooperation between the two countries, the author notes that in 1992 the People's Republic of China officially established diplomatic relations with the Republic of Azerbaijan, then the Republic of Azerbaijan a year later, that is, in 1993, decided to open an embassy in Beijing, the capital of the People's Republic of China. The author particularly examines the economic aspects of international cooperation between the two countries and emphasizes the special role of China’s “One Belt, One Road” initiative and the Shanghai Cooperation Organization, in which the Republic of Azerbaijan has become a dialogue partner. Analysing the state of economic aspects of international cooperation between the two countries, the author identifies some cases that negatively affect the development of relations between the Republic of Azerbaijan and the People's Republic of China. The author mainly attributes the diversification of export products, the problem for Chinese enterprises in the energy sector of the Republic of Azerbaijan, the trade imbalance between the two countries, and so on to these problems. The author, examining statistical data, comes to the conclusion that there is a stable trade surplus of China over Azerbaijan. The author notes that constant efforts by both countries are needed to improve trade and, in general, economic relations in order to prevent obstacles that negatively affect these relations. According to the author, these problems need to be solved by both countries jointly, coordinating their actions in advance. Therefore, we believe that the basis of international relations between the two countries in the economic sphere, including politics and culture, is the friendly and proactive attitude of the Republic of Azerbaijan towards the People's Republic of China. The development and strengthening of these relations will contribute to a new wave of economic and trade growth between the two countries in the future.
This study examines the material and intellectual factors that make inter-state cooperation possible from a constructivist perspective and aims to assess the impact of identity and culture on Turkey's planned partnership with China under the Belt and Road Initiative (BRI). The BRI, which envisions the creation of a new China-centered economic-political structure and value system in the long run, seems to be a manifestation of China's desire to transform the existing order of international relations. The article examines from a constructionist perspective the question marks raised by Turkey's participation in this large-scale project, where Westernized intellectuals are the main constitutive element, and where Turkey has been included in the economic, political and military architecture of the West since the Second World War with the Truman Doctrine, Marshall Plan and NATO membership.
The scholarship on how race and mobilities intersect and interact has emerged mainly from the Western context, such as the UK and the US. Minimal to no research has examined this relation within Global South settings. As an emergent destination country for international migration, China offers an interesting case to research the mechanisms through which foreign migrants’ mobilities are racialised and hierarchised by the local population. This article thus examines how race and racism affect foreign students’ negotiation and interpretation of daily rules of movement and social norms of mobility, and how the racialisation of mobilities, in return, reshaped their foreignness in China. Based on ethnographic data from in-depth interviews with 21 foreign students in an elite Chinese university and participant observation, this article shows how the hierarchy of access to everyday mobilities is established through the logic of racial ideology, scapegoating and institutional design. Mobilities are also intertwined with the intersections of race, gender and skin tone, alongside the construction of misperceived racial identities from the locals, which goes on to produce further immobilisation among foreign students.
The purpose of the study is to investigate the practices of the international corporate strategic communication and management of Chinese enterprises to improve the bilateral trade between Greece and China. The quantitative research design was chosen to provide an accurate outcome for the needs of our investigation. The data collection is held by the online distribution, of 101 questioners, through Google forms, completed by employees in various positions in Chinese enterprises. The research focused on different variables, such as social media usage, government and regulatory compliance. The research analysis gives a clear view of the differences between the models of corporate strategic communication and management utilized by the enterprises of the two countries, as well as suggestions for further adaptation of multi-platform approach to optimize the bilateral trade.
This paper reviews economic growth theory in the framework of economic development and explores the possibility of sustained growth in the People's Republic of China (PRC) in the long run. We argue that the PRC has the potential to sustain relatively high growth rates. First, since the technological gap with major developed countries still exists, the PRC can continue to enjoy its “advantage of backwardness” in the near future. Second, large-scale infrastructure investment, which began several decades ago, may possibly extend to the future and provide the country a basis for further growth. Third, structural readjustment, which is needed in many areas, should similarly be able to support the Chinese economy. This paper argues that to sustain long-term growth in the PRC, a number of general preconditions need to be fulfilled—these include well-functioning markets, a minimum amount of investment, continued structural upgrading, and effective government.
This paper finds that Chinese manufacturing firms that engage in outward foreign direct investment (ODI) have better economic performance than non-ODI manufacturing firms. Overall, ODI firms are more productive and have higher profitability than non-ODI firms. The sector analysis shows that the exceptional performance is significant for labor-intensive industries. Finally, the ODI activity can raise the productivity of other firms in an industry. The larger the ODI within an industry, the higher the productivity of all firms in that industry. The paper suggests that domestic firms set up their firm’s global strategy and reallocate the firm’s resources according to the changing investment environment, taking advantages of profit opportunities outside of domestic markets and invest abroad to get new markets and new technology.
This paper reviews economic growth theory in the framework of economic development and explores the possibility of sustained growth in the People’s Republic of China (PRC) in the long run. We argue that the PRC has the potential to sustain relatively high growth rates. First, since the technological gap with major developed countries still exists, the PRC can continue to enjoy its “advantage of backwardness” in the near future. Second, large-scale infrastructure investment, which began several decades ago, may possibly extend to the future and provide the country a basis for further growth. Third, structural readjustment, which is needed in many areas, should similarly be able to support the Chinese economy. This paper argues that to sustain long-term growth in the PRC, a number of general preconditions need to be fulfilled—these include well-functioning markets, a minimum amount of investment, continued structural upgrading, and effective government. © 2015 Asian Development Bank and Asian Development Bank Institute Published under a Creative Commons Attribution 3.0 IGO (CC BY 3.0 IGO) license.
It is increasingly accepted that the gross domestic product (GDP) growth rate of the People’s Republic of China (PRC) is slowing down, but the reasons for the slowdown are not yet well understood. Part of the reason is that growth in all countries that reach high-income status slows down when they reach a global research income level that is still far below the level of the highest income countries. In the PRC, on the supply side, this is happening because total factor productivity (TFP) is slowing down whereas, because of slowing labor force growth, it would have to increase in order to maintain near double-digit GDP growth. On the demand side, a low share of household income in GDP has required the PRC to maintain an unusually high rate of investment in transport infrastructure and housing, but the rapid growth in both of these areas is coming to an end. Environmental investment could take up the slack and keep aggregate demand at a level thatwould fully employ resources. Finally, thePRChas reached the point where the manufacturing share of GDP has peaked and will begin to decline as the economy becomes increasingly service based, but services seldom grow at the double-digit rates that manufacturing is sometimes capable of. © 2015 Asian Development Bank and Asian Development Bank Institute Published under a Creative Commons Attribution 3.0 IGO (CC BY 3.0 IGO) license.
Laboratory research suggests that components in coffee and tea may have anticarcinogenic effects. Some epidemiologic studies have reported that women who consume coffee and tea have a lower risk for melanoma. We assessed coffee, tea, and melanoma risk prospectively in the Women's Health Initiative - Observational Study cohort of 66 484 postmenopausal women, followed for an average of 7.7 years. Coffee and tea intakes were measured through self-administered questionnaires at baseline and at year 3 of follow-up. Self-reported incident melanomas were adjudicated using medical records. Cox proportional hazard models were used to estimate risk, adjusting for covariates, with person-time accumulation until melanoma diagnosis (n=398), death, loss to follow-up, or through 2005. Daily coffee [hazard ratio (HR)=0.87, 95% confidence interval (CI) 0.68-1.12] and tea (HR=1.03, 95% CI 0.81-1.31) intakes were not significantly associated with melanoma risk compared with nondaily intake of each beverage. No significant trends were observed between melanoma risk and increasing intakes of coffee (P for trend=0.38) or tea (P for trend=0.22). Women who reported daily coffee intake at both baseline and year 3 had a significantly decreased risk compared with women who reported nondaily intake at both time points (HR=0.68, 95% CI 0.48-0.97). Consistent daily tea intake was not associated with decreased melanoma risk. Overall, there is no strong evidence that increasing coffee or tea consumption can lead to a lower melanoma risk. We observed a decrease in melanoma risk among long-term coffee drinkers, but the lack of consistency in the results by dose and type cautioned against overinterpretation of the results.
We attempt to explain the China Puzzle, the coexistence of accelerating economic growth, and a worsening growth outlook. The root cause lies in China's unique liberalization approach, that is, the combination of a complete liberalization of product markets and continued distortions in factor markets. Repressed costs of labor, capital, land, and resources artificially raise the profits of production, increase the returns to investment, and improve the international competitiveness of Chinese products. The asymmetric liberalization approach not only promoted economic growth, but also caused structural risks. It also contributed to global imbalances as well as regional integration. Therefore, future reform policies should focus on the liberalization of the factor markets and the elimination of cost distortions.