Article

Understanding China’s Belt & Road Initiative: Motivation, framework and assessment

Authors:
To read the full-text of this research, you can request a copy directly from the author.

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.

No full-text available

Request Full-text Paper PDF

To read the full-text of this research,
you can request a copy directly from the author.

... This plan addresses transportation, energy, and a communications-based infrastructure interconnection. However, most studies on the impact of BRI beyond the liberalization of trade and investment, such as infrastructure construction assistance, can only be conducted from a broad overview perspective (Huang [9]; Ramasamy and Yeung [10]). Although Ramasamy and Yeung [10] compared the main measures of the BRI, namely strengthening physical infrastructure and improving border management, the impact on the trade of the countries that signed the project, especially the countries along the six major economic corridors. ...
... First, it introduces related variables of trade costs, technological assistance, and financial assistance into a multilateral model. This mathematical analysis method is different from the current overview analysis of various measures (Huang [9]; Ramasamy and Yeung [10]). Second, the authors conduct a simulation analysis of the multilateral impact of BRI on the Silk Road Economic Belt, which has distinguished the trade effects and welfare effects of the three policy measures, and expands the trade and investment perspective of understanding of the Belt and Road Initiative (Shi et al. [1]; Lin et al. [3]; Mahadevan and Nugroho [4]; Luo et al. [5]; Du and Zhang [6]). ...
... First, it introduces related variables of trade costs, technological assistance, and financial assistance into a multilateral model. This is different from the current overview analysis of various measures (Huang [9]; Ramasamy and Yeung [10]). Second, the authors conduct a simulation analysis of the multilateral impact of BRI on the Silk Road Economic Belt, which has distinguished the trade effects and welfare effects of the three policy measures, and expands the trade and investment perspective of understanding the Belt and Road Initiative (Shi et al. [1]; Lin et al. [3]; Mahadevan and Nugroho [4]; Luo et al. [5]; Du and Zhang [6]). ...
Article
Full-text available
This paper divides the Silk Road Economic Belt into four regions. Based on the economic characteristics of these regions, the authors construct a regional equilibrium gravity model with a multilateral resistance variable. The results of the theoretical analysis show that China’s three measures (trade liberalization, financial assistance, and technological assistance) will lead to different trade effects and welfare effects. This paper conducts numerical simulations to analyze these effects among regions under different circumstances, and the authors confirm that the simulation results are consistent with real trade changes. The main results are: (1) Trade liberalization can greatly increase China’s exports to the four major regions, and the welfare of all regions will also increase (Simulation 1). (2) Technological cooperation and assistance can continuously improve local production technology, which in turn leads to a slight decline in China’s exports to the four major regions, but in the long run, the welfare of all regions has improved (Simulation 2). (3) The financial assistance from international institutions will increase the regional trade and welfare linearly (Simulation 3). Finally, this paper draws some conclusions based on the numerical simulation results.
... It is a significant attempt made by China to explore new forms of international economic cooperation with new partners, thus sustaining its economic growth (Ge et al., 2020). Through the B&R, the synergy of foreign direct investment (FDI) between regions is greater, and the comprehensive effect is conducive to promoting green finance (Huang, 2016). ...
... In terms of the possibility of creating a new economic pillar and contributing new policy thinking for economic development, the B&R does provide many important opportunities, although it also contains significant uncertainties and risks (Huang, 2016). By applying CiteSpace, a dynamic analysis software (Du, 2021), we can find the research hotspots and frontiers in B&R, which have attracted researchers' attention and analysis. ...
... B&R or Belt and Road is the abbreviation of "Silk Road Economic Belt" and "21st Century Maritime Silk Road" (Saud et al., 2019), and it's also considered as China's "Going global strategy" (Rauf et al., 2020). It covers more than 60 countries, 47.6% of the global population, 27.8% of total world trade and nearly 30% of the world's GDP (Huang, 2016;Chin & He, 2016;World Bank, 2018;Belt and Road Initiative Big Data Report, 2018). ...
Chapter
This research analyses the results of the Belt and Road Initiative in 17 Central, Eastern, and Southeastern European countries that signed the China-Central and Eastern European Countries Initiative. The subject of the research is the extent to which the initiative would provide benefits for the growth and development of these countries. Special attention will be paid to the link between infrastructure development and FDI, and whether environmental standards are taken into account in the projects belonging to the domain of the Initiative. The authors analyse which areas of economy belong to Chinese investments in the selected countries, and whether the countries have taken into account strategically important investments for the society and the country's economy. One of the goals of the research will be whether in the previous period the countries regularly settled their debts to China and how the COVID-19 crisis has had an impact on debt repayment.
... China, having the highest carbon emissions in B&R, had an average annual increase rate of carbon emissions of 5.34% during 1971-2018, which was higher than the average annual increase rate of carbon emissions worldwide (Lu et al., 2020;Yang et al., 2022). With such environmental issues prevailing, attention should be given to the coordinated economic-socialnatural development of the BRI (Grecu et al., 2018;Yao et al., 2020;Debnath et al., 2021;Retallack, 2021), and not only its trade and economic development (Huang, 2016;Olander et al., 2018;Chen et al., 2020;Carlucci et al., 2021;Alves and Lee, 2022). However, such a holistic study that can summarize the economic, social, ecological, and environmental issues has still not been well documented. ...
... Labour-intensive industries are the major industries in most countries, with labour as their main competitive advantage (Liu and Xin, 2019). However, some studies showed that the BRI has broken trade barriers between the CAFTA countries and promoted the export of complementary products with geographical advantages (Huang, 2016). Compared with developed countries, the backward production technology still delayed the FIGURE 3 | Structure of the indicator system used to assess complex ecosystems. ...
... This in turn has caused a lag in the natural ecological position in Singapore, Indonesia, and China. Nevertheless, some scholars found that China has restructured its economy after the BRI to achieve a two-wheel-drive development comprising economic growth and ecological resilience (Alves and Lee, 2022), despite a high annual growth rate of over 9% (Huang, 2016). However, this growth was mainly driven by increased investment and the growth model was relatively crude. ...
Article
Full-text available
The Belt and Road Initiative (BRI) significantly contributes to the world economy. However, the central part of the Belt and Road (B&R) is located in fragile ecological zones that are arid, semi-arid, or sub-humid. Using the entropy method, the economic-social-natural ecological niches and their coupling coordination during 2007–2019 along B&R’s 11 countries were explored along with regional differences and spatiotemporal characteristics. The economic-social-natural ecological niches were low, with a fluctuating upward trend. Additionally, the average annual growth rate of the synthesis ecological niche dramatically improved after the BRI. Further, the BRI facilitated inter-country trade and promoted the economic ecological niche. However, the BRI marginally affected the social ecological position, possibly because the social ecological niche was high pre-BRI. The natural ecological niche showed a negative growth after the BRI. Further, the coupling coordination of economic-social ecological niche and natural ecological niche showed an upward trend, transforming from severe discoordination to advanced coordination. Although BRI promoted advanced coordination, it did not affect internal categories. Policy recommendations for sustainable development in China-ASEAN Free Trade Area were provided. This study can assist policymakers to balance economic-social development and environmental protection.
... This long-term infrastructure development policy plan aims to improve connectivity and cooperation among countries along the B&R routes. Huang [2] described B&R as the country's greatest international economic ambition and provided four key points for understanding the initiative. First, the initiative's purpose is to sustain China's economic growth by developing new markets. ...
... For Model (1) in Section 4.1, the dependent variables are, respectively, the six measures of QI (VA, PV, GE, RQ, RL and CC) and the explanatory variables are CISI, GPC, FISI, TO, IT and NRC. For Model (2) in Section 4.2, an additional lagged term of each of the QI was added to the explanatory variables. Empirical analyses were conducted using the statistical software Stata [57]. ...
Article
Full-text available
As it has now been over eight years since the introduction of the Belt and Road initiative, analysts and scholars continue to debate the impact of the initiative on host countries. Recent academic studies reported a mostly positive relationship between China’s Belt and Road investments and host countries, including the governance of the latter. However, these studies mainly utilised data compiled by Chinese institutions, and questions have often been raised as to the quality of the data. This paper conceptually replicated one such investigation but utilised datasets compiled by non-China sources. The empirical methodology followed a novel sequential model selection approach, removing criticisms on the flexibility of generalised method of moments (GMM) panel estimations for researchers. Robust results were obtained: China’s Belt and Road investments had a significant positive impact on some measures of governance from the World Bank, and no significant negative effects were found.
... China announced the plan for the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road (known as the Belt and Road Initiative, BRI) in 2013, which immediately attracted attention worldwide [1][2][3][4]. The BRI associates Central and West Asia with the Persian Gulf and the Mediterranean, connecting Asia, Africa, and Europe [5]. ...
... The BRI associates Central and West Asia with the Persian Gulf and the Mediterranean, connecting Asia, Africa, and Europe [5]. The main aim of the BRI is to stimulate economic development of countries along the route [2]. However, with the implementation of the BRI, intense human economic activities may cause substantial disturbance to regional ecology and the environment of the BRI [6]. ...
Article
Full-text available
Economic development and trade activities are some of the main driving forces leading to land use and land cover changes (LUCC) with impacts on ecosystem services (ESs) functions. As the origin of the Belt and Road Initiative (BRI) initiated by China, Central Asia nations (CANs) provide a prism to examine the impact of LUCC and ESs changes brought by the BRI. The impacts of LUCC and ecological influences were evaluated. The land use transfer matrix and dynamic index, the Vector Autoregressive (VAR) model, the Integrated Valuation of Ecosystem Services and Tradeoffs (InVEST), the Carnegie Ames–Stanford Approach (CASA) model, and the Revised Wind Erosion Equation (RWEQ) model were used to evaluate the impact of export trade from the CANs to China (ETCC) on LUCC and ESs in the CANs before and after the BRI. Results showed that before and after BRI (2001–2020), agricultural land and construction land increased by 59,120 km2 and 7617 km2, respectively, while ecological land decreased by 66,737 km2. The annual growth rate of agricultural land and the annual reduction rate of ecological land after the BRI were higher than that before the BRI, while the annual growth rate of construction slowed down. Among the ecological land, the forestland increased by 5828 km2 continuously, while the grassland increased by 12,719 km2 and then decreased of 13,132 km2. The trends for LUCC spatial variation were similar. The development of ETCC positively affected the changes in agricultural and construction land in the CANs and negatively affected the changes in ecological land. The average contribution rates of the ETCC to changes in agriculture, construction, and ecological lands after the BRI were higher than those before the BRI. They increased by 5.01%, 3.33% and 5.01%, respectively. The ESs after the BRI improved compared with those before the BRI, indicating that, during short-term implementation of the BRI, ETCC growth also ensures the ecological protection of CANs. This study provides a reference for dealing with trade, land management and environmental protection relations between member countries of international economic alliances worldwide.
... In 2015, The Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road were published. This document proposed five areas of cooperation: policy dialogue, which intends to create an intergovernmental mechanism for discussions; infrastructure connectivity to link the sub-regions in Asia, Europe, and Africa; unimpeded trade to eliminate trade and investment barriers; financial support to promote the stability of Asian monetary, investment, and credit systems; and people-to-people exchange to build mechanisms for academic and cultural exchanges (Huang, 2016). According to Yunlong (2020), the BRI aims to achieve closer economic ties, greater political trust, deeper cultural exchanges, and friendly understanding between countries. ...
Chapter
Full-text available
China has become one of the engines of the world economy and the principal global player in trade as a supplier and as a market. This fast growth of China is radically changing the global geopolitical ecology of investment, production, and trade (Palat, R. A., Futures 40:721–734, 2008). In this context, this chapter presents some reflections on the influence of geopolitical factors in the economic relations between China and Mexico. The chapter is divided into four different sections. The first is a literature review about the importance of geopolitics to understanding the reasons behind China’s actions in the region. Second is an analysis of the dynamics of imports and exports between Mexico and China between 2010 and 2018. Third is an analysis of the possibilities of Chinese FDI in Mexico to balance the trade deficit, considering the role of Mexico as a platform to the US market, and how the Mexican government can rethink its strategy to rebalance the trade deficit. Finally, the conclusion discusses the geopolitical limitations and opportunities for Mexico’s commercial relationship with China.
... According to Andrew Scobell (2018), the main conflict and crisis hotspots for China from 1990 to today are on the sea: The Taiwan strait, the East China Sea, and the South China Sea. Robert D. Kaplan (2010) suggests that China is trying to exercise a Chinese version of the Monroe Doctrine in the disputed waters on the Pacific, while the Belt and Road Initiative, through the Maritime Silk Road and the Silk Road Economic Belt, is driven by strategic interests which range from breaking the perception of encirclement by American forces in the Indo-Pacific, diversifying trade routes and projecting geoeconomic influence (Clarke, 2017;Zhou & Esteban, 2018;Wey, 2019;Huang, 2016). ...
Article
Full-text available
This paper sought to understand how geographic and historical sources of Chinese strategic culture shaped China's stance regarding sea power throughout the imperial period and in the People's Republic of China. By applying a deductive qualitative analysis, it was possible to identify that the borders of the Chinese heartland with the northern strategic periphery inhabited by non-Han peoples constituted an element of vulnerability that prompted the various dynasties to prioritize land-based strategic options. In the People's Republic of China, the strategic environment favored the construction and adoption of sea power, however, continental domestic imperatives still influence Chinese strategic culture and security decisions. The study of the Chinese case enabled this paper to contribute to the understanding of how strategic culture molds strategic decisions by interacting with material and ideational variables. Resumo: Este artigo visou entender de que modo as fontes geográficas e históricas da cultura estratégica chinesa moldaram as posições da China referentes ao poder marítimo ao longo da era imperial e na República Popular da China. Através da aplicação de uma análise qualitativa baseada na dedução, foi possível identificar que as fronteiras do heartland chinês com a periferia estratégica ao norte habitada por povos não-Han constituíram um elemento de vulnerabilidade que levou com que as várias dinastias priorizassem opções estratégicas continentais. Na República Popular da China, o ambiente estratégico favoreceu a construção e adoção do poder marítimo, contudo, imperativos domésticos continentais ainda moldam a cultura estratégica chinesa e as decisões de segurança. O estudo do caso chinês permitiu que este artigo contribuísse para o entendimento sobre a influência da cultura estratégica sobre decisões estratégicas pela sua interação com variáveis materiais e ideacionais.
... All three have made the Indo-Pacific the fulcrum of the United States attention. However, from the Chinese perspective, the BRI provides a mechanism for enhancing its sphere of influence by demonstrating cooperative engagement through economic incentives as new norms of international relations (Huang, 2016). Therefore, the evolving regional landscape demonstrates great powers" competition (i.e., between China and the United States), where both forces are vying to enhance their sphere of influence through assertive behavior and contrasting strategies. ...
Article
Full-text available
This research focuses on "pivot to Asia" and "Belt and Road Initiative" (BRI) as two competing paradigms defining the great power relations in the evolving regional and global order. The article is based on the premise that a dialectic relationship exists between the United States and China, manifested through the pivot to Asia and global rebalancing by China. The paper investigates the contours of both strategies using the theoretical framework of hegemonic stability theory to provide empirical answers to the assertive behavior of the United States as the status-quo power and China as the rising power. The central argument of the paper revolves around the renewed United States strategic focus in the Indo-Pacific, which is creating perceptions of containment in China. In doing so, the article investigates the evolving power dynamics and role of the United States in shaping the strategies and alliances among the regional actors and Chinese counterbalance strategies through economic incentives and developmental projects such as BRI. The research is an original contribution to unveiling the saga of the United States pivot to Asia and counterbalance by China for enhancing their spheres of influence in maintaining hegemony.
... In 2015, The Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road were published. This document proposed five areas of cooperation: policy dialogue, which intends to create an intergovernmental mechanism for discussions; infrastructure connectivity to link the sub-regions in Asia, Europe, and Africa; unimpeded trade to eliminate trade and investment barriers; financial support to promote the stability of Asian monetary, investment, and credit systems; and people-to-people exchange to build mechanisms for academic and cultural exchanges (Huang, 2016). According to Yunlong (2020), the BRI aims to achieve closer economic ties, greater political trust, deeper cultural exchanges, and friendly understanding between countries. ...
Chapter
The Republic of Costa Rica and the People’s Republic of China resumed diplomatic relations in 2007. These relations, beyond the possible commercial benefits, are of strong political interest from China in order to have a presence in the Latin American region, and in this case, particularly in Central America and the Caribbean. However, one of the most tangible expressions of cooperation between the two countries has been the commercial dimension. Although Costa Rica and China have had trade relations since the early 1990s, it is since the incorporation of China to the World Trade Organization (WTO) in 2001, when trade exchanges experienced constant growth, with a consolidation in 2008, when the negotiations for a free trade agreement and investment protection agree- ment between the two countries were launched. The FTA entered into force on August 1st, 2011, while the bilateral Investment Promotion and Protection agree- ment was approved by Costa Rica in March 2016. This gradual approach has led China to become the second trade partner of Costa Rica after the United States. Therefore, this chapter seeks to evaluate the business impacts that the FTA signed with China have represented for the Costa Rican economy, as well as to reflect on the commercial opportunities that Costa Rica can promote with the existence of this commercial instrument. This will be achieved by a quantitative analysis which will allow characterizing and evaluating the trade relations between the two economies.
... Desde una perspectiva occidental, esta iniciativa hace parte de la estrategia china, basada en sus ingentes recursos, para controlar a las naciones en desarrollo (Zhao, 2020). Sin embargo, desde la perspectiva china, esta iniciativa, junto con el Banco Asiático para el Desarrollo de Infraestructura, está basada en la cooperación y el desarrollo, en la que China se convierte en un contribuidor global que busca aportar a la modificación de la arquitectura económica global (Huang, 2016). Es más, con esta iniciativa la RPC busca "cambiar la manera en que los otros se relacionan con y reflexionan sobre la economía política global y su rol dentro de ella" (Vangeli, 2018, p. 60, traducción propia). ...
Chapter
Full-text available
En este capítulo se propone responder la siguiente pregunta: ¿qué significa para América Latina la presencia de actores globales extrarregionales (China, Rusia, India e Irán) en la región, en un escenario de incertidumbre acentuado por la pandemia del covid-19? Se propone examinar la influencia actual de esas cuatro potencias no occidentales en la región en torno a tres grandes dimensiones: política, económica y militar. No se usará una metodología estrictamente comparativa ante la inconsistencia y asincronía de los datos, pero se usarán algunas series de tiempo, tablas de indicadores y subtemas de contraste para ponderar en qué países de la región se perciben más esas presencias y cuál puede ser su profundidad.
... In 2015, The Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road were published. This document proposed five areas of cooperation: policy dialogue, which intends to create an intergovernmental mechanism for discussions; infrastructure connectivity to link the sub-regions in Asia, Europe, and Africa; unimpeded trade to eliminate trade and investment barriers; financial support to promote the stability of Asian monetary, investment, and credit systems; and people-to-people exchange to build mechanisms for academic and cultural exchanges (Huang, 2016). According to Yunlong (2020), the BRI aims to achieve closer economic ties, greater political trust, deeper cultural exchanges, and friendly understanding between countries. ...
Chapter
The Republic of Costa Rica and the People’s Republic of China resumed diplomatic relations in 2007. These relations, beyond the possible commercial benefits, are of strong political interest from China in order to have a presence in the Latin American region, and in this case, particularly in Central America and the Caribbean. However, one of the most tangible expressions of cooperation between the two countries has been the commercial dimension. Although Costa Rica and China have had trade relations since the early 1990s, it is since the incorporation of China to the World Trade Organization (WTO) in 2001, when trade exchanges experienced constant growth, with a consolidation in 2008, when the negotiations for a free trade agreement and investment protection agreement between the two countries were launched. The FTA entered into force on August 1st, 2011, while the bilateral Investment Promotion and Protection agreement was approved by Costa Rica in March 2016. This gradual approach has led China to become the second trade partner of Costa Rica after the United States. Therefore, this chapter seeks to evaluate the business impacts that the FTA signed with China have represented for the Costa Rican economy, as well as to reflect on the commercial opportunities that Costa Rica can promote with the existence of this commercial instrument. This will be achieved by a quantitative analysis which will allow characterizing and evaluating the trade relations between the two economies.
... Xi further institutionalized the principle of a "community of shared future for mankind" in the Asian Infrastructure Investment Bank and the Belt and Road Initiative (BRI). 29 As scholars have noted, while continuing to accept many Western norms, China has gradually begun to develop alternative norms in areas such as con ict mediation and post-con ict peace-building. 30 is concept is also a path or solution to achieve the "Chinese dream" and "great rejuvenation of the Chinese nation" proposed by Xi Jinping. ...
Article
The media and pundits increasingly associate China’s diplomacy with the term “wolf warrior” and warn about the country’s increased assertiveness and hostility in foreign affairs. However, there has as yet been little if any systematic research on how official the hostile and combative wolf warrior diplomacy is or how it relates to China’s diplomacy under Xi Jinping’s leadership. This article situates wolf warrior diplomacy in the broader context of Xi’s diplomacy and provides a large-scale empirical analysis of diplomats’ speeches. We show that Xi’s diplomacy contains two conflicting components: a liberal and egalitarian “shared future for mankind” and a realist “dare to fight.” Wolf warrior diplomacy only reflects the realist “fighting spirit.” Furthermore, our analysis of the transcripts of the press conferences held by China’s Ministry of Foreign Affairs over the past 20 years reveals that the language of these events has become increasingly hostile during Xi’s presidency. However, this hostility has been associated only with specific issues.
... A month later, on October 3, 2013, President Xi once again called for the establishment of the Asian Infrastructure Development Bank (AIIB) and the construction of the 21st Century Maritime Silk Road. The OBOR initiative covers at least 60 countries, which account for 64% of the world population (4.4 billion people) and 30% of the global GDP ($21 trillion) (Huang, 2016). 1 The Belt and Road Initiative (BRI) is one of PRC's key national strategies. The "Belt" constitutes the major economic and trade zone for many cities along this route. ...
Article
Full-text available
The global pandemic has posed serious challenges for the entire world economy, including for business activities concerning the outward foreign direct investment (OFDI) by People’s Republic of China (PRC)’s. This paper explores the potential economic impact of the COVID-19 crisis on PRC’s OFDI, especially on Chinese state-owned enterprises (SOEs) in the Belt and Road countries. The objective of this study is to engage in an in-depth analysis and provide further insights into the attitudes of relevant stakeholders toward the performance of these SOEs with regard to the Belt and Road Initiative in the Association of Southeast Asian Nations (ASEAN) and the Central Asia Regional Economic Cooperation (CAREC) regions in relation to the current global health crisis. Applying the quarterly panel data regression from 2013Q1 to 2020Q2, we find statistically significant outcomes for the business environment in terms of PRC’s OFDIs initiated in these countries. The first empirical results show that the global pandemic can impair PRC’s OFDIs in ASEAN and CAREC member states. Our study also evidences that the strong connections between the PRC, ASEAN, and CAREC member states in the Belt and Road Initiatives (BRIs) could eliminate the risks. These connections can providing another platform for the PRC to promote shared regional prosperity while resisting counter-globalization and actions from many government forces. In addition, strong economic capacities in line with the demands of the on-going pandemic offers another opportunity for the PCR to develop its foreign economic assistance policy by offering more foreign aid, humanitarian assistance, and health, professional, academic, and culture exchanges to countries along the Belt and Road Initiative (BRI) routes. The study further reveals that the impact of the COVID-19 pandemic can be minimized provided these governments are able to implement useful and effective post-pandemic recovery plans to sustain their economic growth with respect to cross-border FDI for PRC’s BRI OFDI investors.
... The One Belt and One Road (OBOR) initiative is the formal name for the BRI concepts. The idea was put into the broad reform plan announced by the party leadership in November 2013 as a significant political objective by 2020 (Huang 2016). ...
... In 2013, the Chinese government proposed the Silk Road Economic Belt joint construction and the 21st century Maritime Silk Road in Kazakhstan and Indonesia, respectively [1,2]. The Belt and Road Initiative (BRI) aims to strengthen mutually beneficial cooperation among countries along the route and promote stable regional development [3,4]. ...
Article
Full-text available
Under the Belt and Road Initiatives, China’s overseas cooperation in constructing mining projects has developed rapidly. The development and utilization of mining resources are essential requirements for socio-economic development. At the same time, the ecological impacts of the exploitation and utilization of mining resources have increasingly aroused the widespread concern of the international community. This paper uses Landsat images, high-resolution images, and nighttime light (NTL) data to remotely monitor Sino Iron in Australia and Taldybulak Levoberezhny in Kyrgyzstan in different development periods to provide a reference for the rational development of mineral resources and environmental management. The results show that the Chinese enterprises have achieved good results in the ecological protection of the mining area during the construction period. The development of the mine has caused minor damage to the surrounding environment and has not destroyed the local natural ecological pattern. The different NTL indices show an overall rising trend, indicating that the construction of mines has dramatically promoted the socio-economic development of countries along the Belt and Road in both time and space. Therefore, relevant departments should practice green development in overseas projects, establish a scientific mine governance system, and promote a win-win economic growth and environmental governance situation.
... 129). It is a hallmark of Chinese proponents (e.g., Hu, Liu & Hu, 2017;Huang, 2016) of the Belt and Road initiative to brush aside potential negative fallouts on host countries. The CPC allows no reservations from its scholars in selling the initiative. ...
Article
Full-text available
It is often claimed that if the world had been promptly forewarned about COVID-19 in China, it would have acted sooner and prevented a catastrophe. Yet, we are witnessing another Chinese initiative, the Belt and Road policy, which threatens to drown global regions in debt, and many governments are doing nothing to stop it. Hesitation in front of red flags determines humanity’s destination. I use the Azores as an example of being on the receiving end of Chinese expansionism, of how it all started with a group of Chinese tourists fluent in Portuguese, and how this innocent looking factor opened the door for more serious political maneuvering by the Communist Party of China (CPC). I examine closely the writings of the CPC’s Haoguang Liang and Yaojun Zhang and how they sugarcoat the true intent and perilous outcomes of the Belt and Road initiative as China becomes more assertive in its economic and military strategies. I also draw lessons from Francisco Cantu’s work, The Line Becomes a River.
... The Belt and Road Initiative (BRI) is a megaproject of the twenty-first century that China proposed in 2013 to promote regional economic development through infrastructure development (Huang, 2016). The five priorities of the BRI are policy coordination, facilities connectivity, unimpeded trade, financial integration, and people-to-people bond (Zhang, 2018). ...
Article
The Belt and Road Initiative is a megaproject expected to accelerate urban growth. However, the accompanying urban development process can endanger the environment. Thus, land suitability assessment for urban development is crucial to cope with the urban expansion, especially in the anticipated rapid urbanisation areas. This study aims to assess the land suitability for urban development in Nong Khai City, Thailand. Eighteen criteria were selected to indicate suitability by integrating the analytical hierarchy process with the geographical information system. The results showed that the policy to conserve the cultural assets, flood, and the policy to conserve the natural assets have the biggest influence on the decision-making for urban development areas. Precisely 24.73 % of the areas were very highly suitable for urban development, most of which are flood-free with high accessibility and high suitability regarding policy. Precisely 12.10 % of the areas were very lowly suitable for urban development, most of which are prone to flooding, have low accessibility, and are distributed in the zones under the policy to conserve natural assets. The results highlighted how the suitability map for urban development is utilized in urban planning and provided evidence to support urban planning in the context of small cities.
... At this stage, the domestic logistics industry is facing the challenges of global economic integration and the age of information technology. At the same time, the logistics industry should also actively respond to the challenge of optimizing the industrial chain model, e ectively saving costs in the logistics industry, and achieving an overall improvement in management efciency with the support of modern science and technology [1][2][3]. ...
Article
Full-text available
In order to accurately predict the development trend of the “Internet +” logistics industry in the context of the new period and to understand the circulation of the Internet and logistics between countries and the development dynamics of the economy, this paper will take the “Belt and Road” initiative as the research background and elaborate the specific development mode of the “Internet +” logistics industry and the corresponding strategies. Meanwhile, the development trend is evaluated based on its development data using the method of combined forecasting. The results show that the combined prediction results fluctuate within the range of 1, indicating a high degree of prediction accuracy. This is important for predicting the trend of development forces and adjusting the strategic approach and development direction.
... The BRI manifests materially as a series of infrastructure projects and associated efforts to spur economic, political, and cultural cooperation and development with and within the countries it works through (Dunford & Liu, 2019;Huang, 2016). These projects and efforts enable China's region-and world-building agenda to be realized. ...
Article
This paper explores how political ecology can advance existing understandings of the BRI and its effects, and how the BRI can contribute to recent shifts in the study of political ecology. It argues that the idea of infrastructural overlap can sensitise discourse to the ways in which the materialisations of the BRI as a series of infrastructural megaprojects intersect with other infrastructural formations, such as the environment and religion. By focussing on the effects of the BRI on resource dependent communities located between the “commons” and the “cosmos” we can appreciate the sense of existential crisis that is triggered and exacerbated by China’s world-building agenda. This is particularly evident in Southeast Asia, where a variety of indigenous communities reflecting a spectrum of beliefs reveal how the sacred politics of the BRI are beginning to manifest. Drawing on the examples of the Lower Sesan 2 dam in Cambodia and the Myitsone dam in Myanmar, three frames are proposed to guide future research on the BRI: recognising variegated and intersecting “sacrednesses”; navigating soft, religious and spiritual power; and reconciling the sacred politics of displacement and dispossession.
... In particular, countries along the Belt and Road with underdeveloped infrastructure, low investment rates, and low per capita income can increase their trade volumes. China can also ensure its energy security and raw material supply by establishing infrastructure to access these resources (Hofman 2015;Huang 2016). The BRI covers 145 countries and more than four billion people. ...
Article
Full-text available
An essential objective of China's outward foreign direct investment (OFDI) is to expand international trade and access to overseas markets to garner resources and improve transportation routes. This study identifies the determinants of China's OFDI activities in the short and long term, focusing on 138 countries that are part of China's Belt and Road Initiative (BRI). It is the first study to evaluate the sys-tem's contribution of location determinants, including the four factors of economy, logistics, energy, and politics, to China's OFDI by employing a vector error correction model with panel data from 2007 to 2019. In addition, we compare the influence of the variables in coastal and landlocked countries. Panel Granger causality and impulse response tests, variance decomposition, and forecast analysis were conducted to analyze and forecast China' OFDI. The results show that China's OFDI in both coastal and landlocked countries is statistically sensitive to the variables of economy, energy, logistics, and politics in host countries engaged in the BRI. It also shows that improving logistics infrastructure and the political investment environment in landlocked countries, this can positively attract China's OFDI.
... The "Road," i.e., "21st Century Maritime Silk Road" comprises a number of seaports that connect China with Southeast Asia, South Asia, Africa, the Middle East, and Europe through the South China Sea, the Indian Ocean, and the Mediterranean (Rolland, 2017). This part is headed to the Indian Ocean and the Pacific Ocean from coastal ports of China via the South China Sea (Huang, 2016). ...
Article
Full-text available
Bangladesh is a designated partner of Belt and Road Initiative (BRI) which the largest international integretion and cooperation program after the marshal plan. This specific research aims to explore the opinions of Bangladeshi people regarding the income and development potentials due to this partnership. The impact of expected economies, expected raise of FDI inflows, and expected educational develolpment on income potential has been analyzed while the mediating role of expected employment generation has been considered as well. The study surveys a sample 460 citizens who are academicians, business people and senior students, economist, bureaucrats and people involved in policy making. The study finds that expected change in economies due to BRI significantly and positively effect potential income. Similarly, expected increase in FDI inflow and expected education due to BRI have positive association in enhancing employment. On the other hand, the expected change in employment has found to mediate the relation between expected FDI and education to expected income and development of domestic people. However, the study also finds that expected change in economies and expected education does not have any direct impact on expected employment and income of domestic people respectively.
... The regional geopolitics coupled with fragile internal security situation in Pakistan through contained to a large extent will continue to pose security challenges for both China and Pakistan. On the geo-economic side, the CPEC will stimulate Pakistan's economic growth through comprehensive investment in multiple sectors to the tune of USD 60 Billion (Huang, 2016). CPEC. ...
Article
Full-text available
CPEC is the first of the Belt and Road Initiative’s (BRI) six envisioned corridors and the flagship project connecting the belt from Kashgar with the maritime Silk Road at Gwadar Port of Pakistan. From Pakistan’s perspective, this project has been labelled “Fate Changer” for Pakistan and “Game Changer” for the entire region. CPEC is expected to bring significant economic and geo-strategic benefits for Pakistan and China. The expected investment of USD 60 billion will elevate Pakistan’s economy and security. Both the countries remain committed to see its timely completion. While CPEC offers opportunities at global, regional and domestic levels, it faces some internal and external challenges. Therefore, a comprehensive approach in realm of foreign policy initiatives, governance and security domains is required.
... Besides the ones published in official statements, there are other commonly discussed reasons listed for the launch of BRI such as finding solutions for overcapacity in heavy industries and excess foreign reserves problems and slowdown of China's economic growth in the last few years (Schulhof et al, 2022;Huang, 2016). ...
Book
Full-text available
Purpose: The objective of the current article is to explore the role of Emotional Intelligence and Personality Organization as a treatment protocol in the treatment of traumatic like symptoms in social contexts, to highlight the need for qualitative change in the organization of ego-bearing structures of trauma and to examine the interconnection of different approaches in terms of traumatic dynamics in life-changing dynamics. Method: We administered online the Mayer-Salovey-Caruso Emotional Intelligence Test (MSCEIT) of EI and The Scale of Impact of Stressful Events – English version in the Center for Emigration Services (CES) in Italy in March-April 2022. The sample of respondents included 1000 individuals from the CES centers in Italy (N=1000) from whom were 685 females (68,5 %) and 315 males (31,5%) in range age of 18-30 years old with a mean of 22 years old. Results: Results showed that there is a strong line of conception of trauma and its inter-dynamism in certain personality structures for the CES centers in terms of traumatic manifestations and personality organization (r =. 865, p < 0.05), a strong and positive relation between personality organization and self-awareness (r =. 912, p < 0.05) and a moderate positive relation between personality organization and social skills (r =. 456, p < 0.05). Emotional Intelligence and Personality Organization assets with a clinical and statistical significance included the Neurotic Personality Tendency (Sig. = .620) (M = .613; SD = .43), the Psychotic Personality Tendency (Sig. = .801) (M = 4.10; SD = .4675) and Empathy (Sig.=. 764; SD= .5698). Conclusions: In conclusion, healthy Personality Organization patterns, behavioral tendency and Emotional Intelligence variables can be regard as a healthy coping strategy mechanism for overcoming traumatic-like symptoms. Keywords: Trauma settings, Personality Organization, Behavioral tendency, Emotional Intelligence, Recovery
... The Chinese Yuan/Renminbi is potentially stepping in where the petrodollar is now waning [75]. The effects of this expansion of economic influence by China, through a potential petro-Yuan, and the belt and road initiative [76], are not yet felt, but the lines are fairly clearly defined. The Euro system is potentially more stable, and less 'weaponised' but comes with it's own restrictions for use, especially through the International Monetary Fund (IMF). ...
Preprint
Full-text available
We present a state of the art and positioning book, about Web3, Bitcoin, and `Metaverse'; describing the intersections and synergies. A high level overview of Web3 technologies leads to a description of blockchain, and the Bitcoin network is specifically selected for detailed examination. Suitable components of the extended Bitcoin ecosystem are described in more depth. Other mechanisms for native digital value transfer are described, with a focus on `money'. Metaverse technology is over-viewed, primarily from the perspective of Bitcoin and extended reality.\par Bitcoin is selected as the best contender for value transfer in metaverses because of it's free and open source nature, and network effect. Challenges and risks of this approach are identified. A cloud deployable virtual machine based technology stack deployment guide with a focus on cybersecurity best practice can be downloaded from GitHub to experiment with the technologies. This deployable lab is designed to inform development of secure value transaction, for small and medium sized companies.
... Since its official launch in 2013, the BRI has grown to encompass more than 60% of the world's population and 30% of global gross domestic product (GDP) (Huang, 2016). The BRI forms part of Beijing's global ambitions to place itself at the centre of new trade routes through the construction of large infrastructure projects along the old Silk Road land route ( Figure 1). ...
... Besides the ones published in official statements, there are other commonly discussed reasons listed for the launch of BRI such as finding solutions for overcapacity in heavy industries and excess foreign reserves problems and slowdown of China's economic growth in the last few years (Schulhof et al, 2022;Huang, 2016). ...
Book
Full-text available
(An article part of this book was located on pages 75-79) A teacher is someone who provides lessons, training, and education to students or learners. A professional teacher is someone who has special expertise and abilities in the field of education so that he can carry out his duties and functions as a teacher with the maximum ability Invalid source specified. Invalid source specified. A profession is defined as a certain position or job that requires specific knowledge and skills acquired and trained from intensive academic education. Professionalism leads to the commitment of professional members to improving their professional abilities and continuously developing the way of strategy they use when doing work according to what they carry out. The professionalism of the teacher will be the main criterion for the parent to entrust their children in the hand of teachers. The purpose of this study is to reveal how education and training affect the professionalism of teachers.
... The potential for the BRI to have significant influence on the future of global trade transportation is illustrated in the projected commitment of USD 1 trillion, by the Chinese Government, and the involvement of at least 138 participating countries, representing over 60% of the total world population (Huang, 2016). In this respect, since its inception, the BRI has been associated with the launching of 695 projects in 98 countries (CFR, 2020), among which 217 are transport infrastructure projects such as roads and rail, airports and seaports. ...
... 5 While the latter is sponsoring the FOIP, China and the US are promoting their very 'Belt and Road Initiative (BRI)' and 'Blue Dot Network (BDN)' respectively. 6 Among the Asian nations, Japan first enjoyed unprecedented economic momentum and emerged as a leading economic power by the end of the 20th century. Taiwan, South Korea, Singapore, and several South and Southeast Asian countries followed Japan with similar growth. ...
Article
Full-text available
Japan, under the aegis of the hybrid 'Free and Open Indo-pacific' regional order, plans to enhance 'connectivity' between Asia and Africa to promote security and macroeconomic stability across these regions. The signing of $2.5 billion ODA in June 2019 indicated that Japan desired Bangladesh in this connectivity plan. Despite the size of Japanese assistance to Bangladesh, the latter suffers from a hefty trade deficit with the country. Poor investment rating due to weak administration, poor infrastructure, lack of transparency hinders the partnership. Against this backdrop, this paper examines the geopolitical and geoeconomic significance of the Japan-Bangladesh relations, and the extent to which development projects in Bangladesh, financed by Japan, are consistent with environmental sustainability standards. With the advent of globalization, longstanding security philosophies are changing rapidly. The rise of artificial intelligence, e-commerce, cyber-security, hybrid warfare, climate change, or even new diseases such as the Novel Coronavirus (COVID-19) has reinforced concerns over non-traditional security. Dealing with such delicate security matters require new and thinking. Japan is one of the first nations to understand that need. Tokyo’s multi-regional engagement through the ‘Free and Open Indo Pacific (FOIP)’ proposal can be noted as such an attempt.
Chapter
Motivated by the Chinese government's foreign direct investment (FDI) promotion policies, this paper is attempting to examine the implications of these policies to the Belt and Road (B&R) regions under the unique institutional settings. By applying the software tool CiteSpace, which is developed for visual analyze of science mapping (Chen, 2017), this paper aims to investigate the dynamics of Chinese cross-border investment activities in B&R countries, taking the China-Pakistan Economic Corridor as an example, and discuss the question whether & how these policies and activities could drive more Chinese multinational enterprises (MNEs) to exploit these emerging business opportunities in B&R regions, as well as investigate what is the trend of Chinese FDI in B&R.
Article
There are large heterogeneities in the logistics development of urban agglomerations in western China due to the low compactness and spatial stability of urban agglomerations. Using the statistical yearbook and logistics industry data of 135 cities in western China from 2003 to 2018, we analyzed the spatial distribution characteristics of logistics enterprises using kernel density and cold-hot spot analysis. Simultaneously, economic development level, industrial structure of circulation, and the logistics industry are identified as influencing factors of logistics industry evolution. The comparative and integration analysis of spatial autocorrelation models and geographically weighted regressing models are implemented on the influencing factors of logistics enterprises' spatial-temporal evolution. Our study revealed that the number and density of logistics enterprises in western China have continually increased in the past 20 years, factors such as per capita gross domestic product, population quantity, population density, the proportion of the tertiary industry, and density of logistics enterprises are all key factors supporting the evolution of the logistics industry in western China. The logistics industry in the western provinces has had outstanding development in the past 20 years; however, there are still obvious regional inequalities due to factors such as infrastructure and policy.
Chapter
Full-text available
I divide my paper into five parts: after a short introduction to explain my question and my odd title (“From ‘Zero Tolerance’ to ‘Turn the Other Cheek’”), I examine justice as the Golden Mean between four ethical extremes, taking up Seneca’s thought. In the three following sections, I deal with the ideological outcome of my four-quarter grid, firstly examining the interchange of morally acceptable attitudes, then the opposition of sternness versus cruelty, and in the fifth section the last pair of opposites: mercy and commiseration.
Chapter
The focus of this chapter is the analysis of economic relations between Montenegro and China and the implications that the intensified economic cooperation may have on the political, regional, and global levels. Special attention is paid to the construction of the priority section of the Bar-Boljare highway and the financial arrangement concluded on those grounds between Montenegro and the Chinese Exim Bank. China's presence in the Western Balkans has gained importance recently through the Belt and Road Initiative project. Therefore, this chapter seeks to answer how Montenegro can use all the benefits of this initiative to strengthen its national economy and increase its citizens' living standards. That can be crucial as Montenegro is facing economic consequences of the COVID-19 pandemic, and FDI inflows are a precondition to reduce the infrastructure gap within the convergence criteria in the EU accession process.
We analyze the relationship between trade patterns and the allocation of investment projects carried out under the China-led Belt and Road Initiative (BRI). Rooted on a novel database, we construct the intermediate trade network and assess its role in the allocation of the projects. Investments tend to concentrate in countries located in central nodes of the international production networks as well as towards suppliers of intermediate goods whose revealed comparative advantage overlaps with China. High income countries closer to destination markets tend to attract fewer but larger investments. Controlling for gravity variables as well as for political proximity to China adds explanatory power without affecting the results on the importance of trade. The BRI represents an opportunity for China to upgrade its exports and for the countries receiving investments to enhance their participation in Global Value Chains (GVC) with possible positive impacts on development.
Article
Full-text available
The “Belt and Road” Initiative (BRI), i.e., the official Chinese term for the “Silk Road Economic Belt” and the “21st Century Maritime Silk Road”, was proposed to share China’s development opportunities with BRI-related countries and achieve common prosperity. Though the BRI itself conveys rich social and economic connotations, ecosystem health and the environmental problems in the Belt and Road regions are scientific issues. In this study, papers relating to the ecological issues of the BRI between January 2013 and December 2021 were collected and analyzed via CiteSpace. We found that some ecological issues were involved with the environmental challenges posed by the BRI, whereas others were, to a certain extent, subjective assumptions. Accordingly, we identified and classified the limitations and constraints of those environmental views about the BRI. By emphasizing that scientific data is key to explaining the ecological problems, we advanced four prospects for ecosystem health and environmental geography studies in the Belt and Road regions: (1) Spatial analysis and monitoring technology for the environment; (2) Clarification of the characteristics and mechanisms of the ecosystem and environments; (3) A focus on the interaction between the economy and the environment; (4) Specific and targeted strategies and solutions to different environmental problems.
Article
As one of the most salient features of China’s economic development, high-speed rail (HSR) is considered to be an attractive target and travel mode for terrorists. Distinguishing potential terrorists from normal passengers is of critical importance to public security, but very challenging because terrorists constitute only a very small fraction of HSR passengers, especially when they can disguise their attributes and behaviors to deceive the classifiers. For this extremely imbalanced classification problem, we propose a novel evolutionary generative adversarial network (GAN) ensemble method, where each GAN in the ensemble simultaneously trains a discriminator to identify abnormal samples from a large number of passenger profiles and trains a generator to produce abnormal samples that are disguised as normal ones in a subspace of the sample space, and the final classifier combines these GANs using an evolutionary fusion method. Experiments on benchmark problems demonstrate that the proposed method has very competitive performance compared to popular imbalanced classifiers. The successful applications in terrorist identification for China Railway also demonstrate the feasibility and effectiveness of our approach.
Article
We present the risk spillover effect of 2178 banks in 63 countries along the Belt and Road from 2006 to 2020 with the VAR-BEKK-GARCH model. We find that Chinese banking has two-way risk contagion with banks in East Asia and Association of Southeast Asian Nations, South Asia, West Asia, and Central Asia. Furthermore, Chinese banking keeps a positive correlation with banks in Thailand, Turkey, and Saudi Arabia, and its relationship with Indonesia and Kazakhstan shows seasonal characteristics, whereas with India, there is no obvious spillover effect.
Article
The Belt and Road Initiative (BRI) initiated by China in 2013 is a new experiment in regional cooperation, which aims to improve infrastructure connectivity through investment. This paper investigates whether the BRI created exports for its member states (excluding China), based on a difference‐in‐differences model. We find a significant causal relationship between the signing of the initiative and the export growth of its member states. In addition to the large export creation between the BRI countries and China (considered as “give‐them‐a‐fish”), export creation also originated from the BRI countries excluding China (“teach‐them‐to‐fish”). Both the intensive and extensive margins are significantly important, indicating that export creation has not just come from expansion of the volume of existing products, but also from new products and new markets. The BRI achieved the goal of mutual benefit mainly through enlisting investment in both publicly funded infrastructure sectors and private sectors. Moreover, the initiative has enhanced the position and participation of its member states in the global value chain.
Preprint
Full-text available
Since the advent of the OBORI, it was subjected to numerous studies. However, most 15 previous studies investigated only the potential impact of the OBORI on the Chinese economy and 16 geopolitics. Therefore, its real effect on Chinese international commerce in OBORI countries is not 17 evaluated yet. Accordingly, this study intends to model the OBORI effect on Chinese product 18 brand purchases across country members. The assessment is made on 18362 purchases of the 19 International Online Consumers (IOCs) from a Chinese international online selling platform. The 20 Data was obtained from a programming language and the octopus software. The OBORI policy's 21 effect on Chinese brands' purchases was examined through a Different In Different Model (DIDM). 22 Results show that the impact of OBORI is weak in the real market. However, it could be significant 23 if OBORI includes more developed and economically strong countries. To Chinese brands and 24 policymakers, we show how the inclusion in the OBORI project of developed countries could 25 contribute more to Chinese product brands' purchases. Thus, the study enables decision-makers to 26 understand the current impact of OBORI on the real market and its potential effect if more 27 developed and economically strong countries are included. 28
Chapter
China has become the main trading partner for most Latin American economies, on the one hand, due to the growth in natural resources imports, and on the other, as a supplier of final consumption and industrial goods. During the last years, this participation has not only grown in aggregated terms, but China has also been able to develop a more complex export matrix, increasing its participation in highly innovative and technological sectors. This is the result of the implementation of various policies, among which export promotion policies become fundamental for its development. The objective of this chapter is to understand how the Belt and Road Initiative has become a fundamental element within Chinese export promotion policies toward Latin America. As some BRI projects in the region have been stalled, the Digital Silk Road appears as an alternative to enhance export promotion through cooperation between China and the Latin American region.
Chapter
Foreign direct investment (FDI) is a very important element of economic integration because it creates an opportunity for accelerated development, technological innovation, and corporate restructuring. Western Balkan countries mainly focused their activities on attracting investments from EU countries. However, as investments from these countries have been reduced recently, the countries of the Western Balkans have opened their markets to incoming Chinese investments. Serbia is currently the first country in the Western Balkans. Based on the inflow of Chinese investments, and in the coming period, we can expect a trend of intensive growth of Chinese investments related to the “Belt and Road” Initiative, which will lead to additional development of the Serbian economy. The main subject of this research focuses on the distribution of Chinese investments on a global scale, as well as the importance of the “Belt and Road” Initiative for both multinational companies and recipient countries of Western Balkans, with special reference to Serbia.
Thesis
Full-text available
As an important staple food for humanity, rice is the main source of foreign exchange for most Asian countries, including Cambodia. Widely known as “white gold” in Cambodia, milled rice is the country’s economic foundation and foremost agro-exportable commodity. Thus, this dissertation aims to investigate the export competitiveness and to identify the determinants of Cambodian rice exports, by focusing on five imperative aspects (through different econometric estimations and statistical analytical methods), as follows: 1). Empirical analysis of the current situation and trends of the Cambodian rice economy: the descriptive statistical methods (e.g. tables, graphs, maps, and so on) were utilized. 2). Investigation of numerous trade-related policies’ impacts on Cambodian rice exports: the discussion methods based on existing literature were conducted. 3). Analysis of the Relative export competitiveness (REC) of the Cambodian rice sector in the world rice market: the indexes of REC and Relative symmetric export competitiveness (RSEC) were developed. The short-run regression (SRR) model was estimated for identifying the potential determinants of the REC of the Cambodian rice sector. The data sets used for this analysis were available from 1995 to 2018 (24 years). 4). Estimation of major influencing factors of Cambodian rice exports: the dynamic panel gravity model was constructed and analyzed based on the GLS, PPML, and Heckman model. Our data sets contained 880 observations (22-year 1995-2016 × 40 selected partners). 5). Analysis of impacts of SPS measures: the SPS gravity models analyzed based on GLS, PPML, and Heckman approaches were utilized, based on data sets containing total observations of 874 (23-year 1996-2018 × 38 importing major partners). The main findings derived from the research are as follows: EU is the biggest market for Cambodian rice, while China (including mainland China, Hong Kong, Macao, and Taiwan) is gradually becoming the second largest international market. The third market is the ASEAN market, and the countries along the BRI would be another important market for Cambodian rice exports. The main varieties of rice exported from Cambodia are Long Grain, Fragrant Sen Kraob and Neang Sauy, Jasmine Phka Rumduol or Phka Malis, and Long Grain Parboiled. Our findings revealed the gradual improvement of Cambodian rice’s export competitiveness in the international market over time, especially after the application of the “Rice export policy” (RP2010). The evidence showed that the RP2010 had pushed Cambodia’s REC from the very lower stage to the comparable stage of other world’s rice exporters. SRR model reveals the important effects of local policies’ implementation (RP2010 and RS-III in particular) on the national rice industry. The model also indicated that the European EBA and the Chinese BRI positive-significantly influenced the exports of Cambodian rice. Moreover, domestic supply/demand management was defined as another major source for maintaining the export competitiveness of the rice sector in Cambodia. The Dynamic Panel Gravity Model suggested that historical ties play important role in Cambodian rice exports. However, these exports were further sensitive to macroeconomic factors (like financial crisis and so on). The findings also indicated that the exchange rate policy and agricultural land expansion are one of the core influencing factors promoting rice exports. The SPS Gravity Model of the study also indicated that SPS measures have a high negative impact on Cambodian rice exports. Cambodian rice is more popular in the higher-income international markets such as the EU than in others. Additionally, our findings revealed that there should be great opportunities for Cambodia to expand the market shares if Cambodia could accumulate experience and consider fulfilling the higher standards required by SPS beforehand of market access. Some applications and recommendations for Cambodian rice development have been suggested based on the findings of the research. Keywords: Cambodian rice economy; Export competitiveness; Gravity model; Heckman selection model; Poisson Pseudo-Maximum-Likelihood (PPML); Belt & Road Initiative (BRI); Everything but Arms (EBA); ‘Green’ Trade Barriers (GTBs)
Article
Full-text available
The Chinese Government commenced the One Belt One Road (OBOR) project in 2013 for the multidimensional development to restore the historical Silk Road paradigms. The Economic Corridor provides networks and connections based on two geographical territories. The China Pakistan Economic Corridor (CPEC) is one of them, a chunk of the Silk Road Economic Belt’s economic corridors. CPEC would be an economic game-changer for Pakistan. It will generate businesses, minimize poverty, generate employment opportunities, and improve local communities’ health and education. However, it is more lucrative for the Chinese economy because CPEC is a safe, cheapest, and shortest route for importing energy rather than other routes. The present study investigates the social, infrastructural, and tourism effects of CPEC through the mediation role of rural development and knowledge sharing, including income, employment, business, land-use change variables, and CPEC adoptability for a local community in Pakistan. This study is based on four different regions of Gilgit Baltistan, Khyber Pakhtunkhwa, Punjab, and Sindh in Pakistan. The study incorporates the collected data from the respondents living on the CPEC routes via face-to-face interviews from citizens (cities, villages, and towns). Besides, the study applied univariate and Structural Equation Model techniques to draw the results. The study results reveal that CPEC plays a significant role in Pakistan’s socio-economic and rural development. This mega project’s expectations might bring positive changes in infrastructure development, energy sector, and social development projects in Pakistan. The Results also indicated that CPEC would link rural areas to urban areas, which would offer development opportunities for rural regions to achieve sustainable development.
Article
This paper adopts and extends the theoretical lens of institutional imprinting to international business research. It analyses a secondary data set on Indian and Chinese foreign direct investment (FDI) flows to Africa, compiled for the period ranging from 2008 to 2018, to highlight the distinctiveness of Indian FDI. It argues that Indian FDI streams into better governed host countries with controlled corruption and high standards of accountability. This is in striking contrast with Chinese FDI, which is impervious to host country governance standards in its geopolitical quest for gaining economic supremacy in the region. India’s membership of the Commonwealth (CW) plays a vital role in the location and volume of its investments to Africa, whereas the Chinese Belt and Road Initiative (BRI) wields no influence on the location of its investment.
Article
China’s outward foreign direct investment (OFDI) provides a window of opportunity for the Belt and Road (B&R) countries to solve their transportation challenges and achieve green economic growth. This study examines the causal relationship between China’s OFDI, transport, and green economic growth in 63 B&R countries from 2005 to 2019 using system GMM estimators. The empirical results indicate that there is a multifarious relationship between these factors. China’s OFDI can effectively facilitate the transport infrastructure construction of host countries, which will spur green economic growth. Moreover, the B&R countries with transport and green economic growth gap are more likely to contribute to China’s OFDI “attractiveness.” These conclusions provide a policy basis for the B&R countries to attract China’s OFDI, develop adequate transportation infrastructure, and enhance sustainable green economic growth.
Article
This paper examines how Chinese policy banks responded to China's Belt Road Initiative (BRI) using transaction‐level international syndicated loan data. Employing a difference‐in‐differences (DID) estimation, we show that Chinese policy banks increased aggregate lending (number of loans and loan amounts) to firms from the BRI countries compared to those from the non‐BRI countries after the initiative. This increase was more pronounced among firms along the continental route and in the infrastructure sectors. We also find that Chinese policy banks' loans to the BRI borrowers were associated with reduced spread, lowered collateral requirement, and extended maturity. Moreover, our results suggest that Chinese policy banks gave more support to firms from the BRI countries with weaker economic performance, more fragile institutional quality, and closer political interests. Overall, our study highlights the supportive role played by Chinese policy banks in implementing a national globalization strategy.
Article
Bridging government involvement and business sustainability, particularly in manufacturers, is becoming a new research interest. To enrich this knowledge area guided by the Institutional Theory, this study builds a multiple mediation model to investigate the effect of environmental regulation on business sustainability by concerning on the chain mediation effect of green organizational identity and sustainable exploration/exploitation innovations. China’s manufacturers that are a key component of emerging markets have been analyzed by this study because of their significant impacts on climate change, substantial contributions to the boom of industries, and distinctive governance structures. By investigating China’s manufacturers such as shipbuilding, energy, food, and daily necessities manufacturing sectors, we witness that the relationship between environmental regulation and business sustainability could be positively subsequently mediated by green organizational identity and sustainable innovation. While this identity does not exercise a positive mediation between environmental regulation and business sustainability significantly. Furthermore, both sustainable exploration/exploitation innovations exercise a significantly positive mediation between green organizational identity and business sustainability. We therefore conclude that manufacturers of emerging markets need a thoughtful deployment in pro-environmental psychologies and behaviors to closely bridge environmental regulation and business sustainability instead of only concerning on one aspect. This study has significant implications for emerging markets constructing a comprehensive as well as systematic pro-environmental path by using the merit of Institutional Theory to enhance business sustainability with more standardized and professional ways.
Article
Full-text available
The Chinese Government commenced the One Belt One Road (OBOR) project in 2013 for the multidimensional development to restore the historical Silk Road paradigms. The Economic Corridor provides networks and connections based on two geographical territories. The China Pakistan Economic Corridor (CPEC) is one of them, a chunk of the Silk Road Economic Belt's economic corridors. CPEC would be an economic game-changer for Paki-stan. It will generate businesses, minimize poverty, generate employment opportunities, and improve local communities' health and education. However, it is more lucrative for the Chinese economy because CPEC is a safe, cheapest, and shortest route for importing energy rather than other routes. The present study investigates the social, infrastructural, and tourism effects of CPEC through the mediation role of rural development and knowledge sharing, including income, employment, business, land-use change variables, and CPEC adoptability for a local community in Pakistan. This study is based on four different regions of Gilgit Baltistan, Khyber Pakhtunkhwa, Punjab, and Sindh in Pakistan. The study incorporates the collected data from the respondents living on the CPEC routes via face-to-face interviews from citizens (cities, villages, and towns). Besides, the study applied univari-ate and Structural Equation Model techniques to draw the results. The study results reveal that CPEC plays a significant role in Pakistan's socioeconomic and rural development. This mega project's expectations might bring positive changes in infrastructure development, energy sector, and social development projects in Pakistan. The Results also indicated that CPEC would link rural areas to urban areas, which would offer development opportunities for rural regions to achieve sustainable development. PLOS ONE PLOS ONE | https://doi.org/10.1371/journal.pone.
Article
Full-text available
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.
Article
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.
Article
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.
Article
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.