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Book part
Publication date: 21 October 2020

Lan Jiang

The growing power of China's economy with its ‘One Belt One Roadinitiative for building a new globalised world is generally believed to have an impact on global economic…

Abstract

The growing power of China's economy with its ‘One Belt One Roadinitiative for building a new globalised world is generally believed to have an impact on global economic development and sustainability.

The current Chairman and President of the People's Republic of China Mr. Jinping Xi proposed the ‘One Belt One Roadinitiative in 2013 during his official visit to Kazakhstan and Indonesia. This was a Chinese initiative to create the Silk Road Economic Belt (SREB) and the Maritime Silk Road (MSR) to promote a new model for international cooperation and development. In recent years, more and more countries from Asia, the Middle East, Europe and Africa have agreed to join the initiative and have established their regional plans for economic development and sustainability.

This chapter provides a critical review of China's ‘One Belt and One Roadinitiative for creating higher growth and economic development through infrastructure connectivity, increased trade and investment. It discusses the challenges of the ‘One Belt One Roadinitiative and reports on the risks associated with the development of this regional cooperation. It summarises arguments for a common approach to infrastructure development and regional cooperation by supranational institutions.

It concludes that the growing positive support for China's ‘One Belt One Roadinitiative and its development as one of the largest infrastructure and investment projects in history would bring significant benefits to the global economy.

Details

Governance and Sustainability
Type: Book
ISBN: 978-1-80043-151-5

Keywords

Article
Publication date: 1 November 2019

Nida Rahman and Mohd Nayyer Rahman

Globalisation has remained a subjective term as the magnitude unfolded. Every new decade witnesses new opportunities for global integration of the economies. One among…

Abstract

Purpose

Globalisation has remained a subjective term as the magnitude unfolded. Every new decade witnesses new opportunities for global integration of the economies. One among such initiatives, it is argued, is the One Belt One Road initiative of the People’s Republic of China. It is assumed to be beneficial for the world and at least for the region, if not to say more. The world has witnessed efforts and trends of protectionism as well, but China comes up with new vigour. One Belt One Road has entered into consistent talks and deliberations at the world level. It is therefore imperative to identify the emerging linkages between the participant countries in One Belt One Road. This study aims to take up the task of enquiring about the effect of One Belt One Road on the gravity between China and the nations of Eurasia. This study looks for the realisation of the expected economic ties and internationalisation emerging from One Belt One Road and the evidence for the same. This will be identified in the present study. The paper also attempts to theorise a model for One Belt One Road.

Design/methodology/approach

This study takes up the task of enquiring about the effect of One Belt One Road on the gravity between China and the nations of Eurasia. The hypothesised economic ties and internationalisation will be a reality or not. And what are the evidences for the same. This will be identified in the proposed study. An attempt to theorise the model for One Belt One Road is also taken.

Findings

It is perceived that the mega project would fill the wedge between China and Eurasia and convergence will follow with the start of the One Belt One Road.

Originality/value

The emergence of China in the global world order as the initiator of mega deals and projects and its dominion in every realm of economic activity is a topic of scrutiny for the entire world. In this context, the One Belt One Road initiative offers huge potential for exploration. As the project is in its early stages of planning and execution, its prospects of tying entire Europe and Russia with China through two of the revived ancient routes are essential to the entire world.

Details

Journal of International Trade Law and Policy, vol. 18 no. 3
Type: Research Article
ISSN: 1477-0024

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Abstract

Details

Middle-Power Responses to China’s BRI and America’s Indo-Pacific Strategy
Type: Book
ISBN: 978-1-80117-023-9

Article
Publication date: 5 September 2016

Zhaobin Fan, Ruohan Zhang, Xiaotong Liu and Lin Pan

The purpose of this paper is to estimate the China’s outward FDI efficiency and it determinants in 69 countries along the Belt and Road over the period of 2003-2013.

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Abstract

Purpose

The purpose of this paper is to estimate the China’s outward FDI efficiency and it determinants in 69 countries along the Belt and Road over the period of 2003-2013.

Design/methodology/approach

This paper defines the extent of the Belt and Road in terms of geographical boundaries, justifying the application of the stochastic frontier gravity model to the FDI analysis, and then constructing a frontier regression model to assess the China’s outward FDI efficiency and it determinants in countries along the Belt and Road.

Findings

Regarding the core gravity parameter estimates, China’s outward FDI was highly consistent with the gravity model. As far as policy parameters are concerned, China’s outward FDI was significantly restricted by some man-made barriers in host countries. According to the estimated FDI efficiency scores, China has huge outward FDI potential in countries along the Belt and Road. In general, China’s outward FDI efficiency demonstrated a consistent uptrend from the perspectives of both FDI flows and stocks over the period of 2003-2013. Although China’s outward FDI performance indicated a very uneven pattern across different countries and periods, there were no significant performance differences between the Road and Belt.

Practical implications

The Belt and Road initiative can be largely beneficial to China’s outward FDI, but the specific framework of cooperation should be designed on the basis of determinants of China’s outward FDI. The regional cooperation with the Road countries should mainly focus on the removal of business barriers and financial barriers. The regional cooperation with the Belt countries should mainly concern the improvement of local intellectual property protection, the reduction of local tax burden, and removal of business barriers and financial barriers.

Originality/value

To the authors’ best knowledge, no existing literature has specifically examined the efficiency of China’s outward FDI in the countries along the Belt and Road and its determinants.

Details

China Agricultural Economic Review, vol. 8 no. 3
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 31 August 2017

Inkyo Cheong

Although there is a growing number concerning articles/papers on China’s ‘One Belt, One Road’ (OBOR), it is difficult to find comprehensive research regarding the economic…

Abstract

Although there is a growing number concerning articles/papers on China’s ‘One Belt, One Road’ (OBOR), it is difficult to find comprehensive research regarding the economic background in spite of the OBOR initiative involving multi-dimensional considerations. Although China targets to become a soft power leader by reviving the spirit of the old Silk Road, the OBOR is a large-scale investment project, whose rate of investment (ROI) is important for sustainability. Since new infrastructure in isolated regions is likely to be used less frequently, anticipated profitability is low. In spite of this risk, China promotes the OBOR for its economic and political purposes. China will promote the OBOR in spite of the U.S. withdrawal from TPP membership, since boosting aggregate demand is of critical importance for the country. This paper analyzes the economic background of the OBOR, which establishes China’s own model of regional integration, eases unemployment, and internationalizes its currency. Finally, this paper discusses diverse risks for China in the process of implementing the OBOR.

Details

Journal of International Logistics and Trade, vol. 15 no. 2
Type: Research Article
ISSN: 1738-2122

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Article
Publication date: 7 September 2020

Xiangyi Li and Zhiting Wen

Since One Belt One Road (OBOR) was proposed, Singaporean sides have reacted differently. Based on the case of Zaobao, the authors develop the theoretical frame including…

Abstract

Purpose

Since One Belt One Road (OBOR) was proposed, Singaporean sides have reacted differently. Based on the case of Zaobao, the authors develop the theoretical frame including international relations, agenda setting and media framing, analyzing the construction of textual materials on OBOR and its influencing factors.

Design/methodology/approach

In this sense, this paper attempts to use Zaobao's texts on OBOR from 2015 to 2017 as textual materials, by using the discourse analysis method and combining the theories of international relations, agenda setting and media framing, to explore the following two relevant questions: How does the mainstream Chinese media of Singapore construct OBOR issue? What factors influence this kind of construction?

Findings

The study finds that agendas setting on OBOR are diversified in the purpose of supporting official position and meeting audiences' expectations, which are constrained by the factors such as international situations, regional strategies, national interests and domestic politics. The authors learn more details about hidden and vague thoughts on OBOR from all sides in Singapore through this discourse analysis.

Originality/value

In summary, the academic community has a certain foundation for the study of the cognition of the “Belt and Roadinitiative. However, compared with the other countries' research on the Belt and Road cognition, the research on Singapore is insufficient. Singapore is an important hub for the 21st Century Maritime Silk Road. At the same time, as a leader of Association of Southeast Asian Nations (ASEAN), it has a strong appeal and influence in other ASEAN countries. It has also played a pivotal role in building the “Belt and Road”. However, the “Belt and Roadinitiative has been proposed and implemented for five years. The research on Singapore's cognition and reaction of the “Belt and Roadinitiative is still insufficient. Therefore, an in-depth study of Singapore's cognition of the ‘Belt and Roadinitiative has significant academic and applied value. This paper attempts to explore the construction of the “One Belt, One Roadinitiative by Singapore's official media to make up for the shortcomings of existing research.

Details

Asian Education and Development Studies, vol. 10 no. 1
Type: Research Article
ISSN: 2046-3162

Keywords

Article
Publication date: 30 April 2021

Samuel Gyamerah, Zheng He, Enock Mintah Ampaw, Dennis Asante and Lydia Asare-Kyire

Drawing upon the institutional theory, the present study investigated whether or not small and medium-sized enterprises (SMEs) in East Africa benefit from the Belt and Road

Abstract

Purpose

Drawing upon the institutional theory, the present study investigated whether or not small and medium-sized enterprises (SMEs) in East Africa benefit from the Belt and Road Initiative (BRI), and how the latter influences the internationalization of the former.

Design/methodology/approach

An in-depth interview was conducted by using 26 SME managers/owners who are engaged in international activities in the “Belt and Road” countries. The sample was chosen from four East African countries across three industries. The theoretical framework emerged from the grounded theory analysis of the primary data.

Findings

The authors found that the BRI as a formal institutional force generates both direct and indirect influences on SMEs' internationalization. Three key driving forces, namely partnerships, specialized services and innovativeness underpin the internationalization of SMEs. Additionally, sectoral analysis of the similarities and differences in responses reveals no remarkable differences in the drivers and impact of the BRI on SMEs in all the three industries investigated.

Research limitations/implications

The internationalization process of East African SMEs could be augmented through formal institutions like the BRI, and the internationalization of SMEs along the “Belt and Road” countries mimic an integrative approach. The theoretical framework demonstrates significant potential for further benefits that SMEs may obtain through the BRI by taking advantage of certain BRI opportunities and adopting crucial strategies to internationalize rapidly.

Originality/value

This is the first study to employ a qualitative approach to study the influence of the BRI at the firm-level. Specifically, the paper covered the hub of BRI countries in East Africa. Hence, the study makes substantial theoretical and policy contributions to the literature.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Book part
Publication date: 10 July 2019

Anna Visvizi, Miltiadis D. Lytras, Wadee Alhalabi and Xi Zhang

In as much as it is contested, the Belt and Road Initiative (BRI) is also unexplored, underdiscussed, and, as a result, misunderstood. Frequently viewed through the lens…

Abstract

In as much as it is contested, the Belt and Road Initiative (BRI) is also unexplored, underdiscussed, and, as a result, misunderstood. Frequently viewed through the lens of international relations and global economy, the diverse dimensions of collaboration, including business and research-industry clusters, that BRI enhances, tend to be excluded from the analysis. In a similar manner, the role of the Arab Peninsula in the grand strategy underpinning BRI and its implementation is rarely discussed. BRI is a forward-oriented initiative, an attempt to reap benefits of developments and circumstances that are only nascent. This bears two potent implications. First, as China attempts to influence the context in which it operates, it is subject to change itself; the Chinese business sector evolution attests to that. Second, some of China’s not so obvious partners of today, including those in the Arab Peninsula, are about to turn into key interlocutors of tomorrow. BRI taps into opportunities thus created. This chapter elaborates on these issues and, against this backdrop, outlines how the remaining chapters included in this volume add to this discussion.

Details

The New Silk Road Leads through the Arab Peninsula: Mastering Global Business and Innovation
Type: Book
ISBN: 978-1-78756-680-4

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Article
Publication date: 3 December 2019

Jing Shuai, Fubin Huang, Zhihui Leng and Xin Cheng

This paper aims to estimate the international competitiveness of China’s biomass energy products during 2007-2016 in the context of the Belt and Road Initiative.

Abstract

Purpose

This paper aims to estimate the international competitiveness of China’s biomass energy products during 2007-2016 in the context of the Belt and Road Initiative.

Design/methodology/approach

In this paper, the authors used the constant market share model and the revealed comparative advantage index to analyze the evolution trend of China’s biomass products’ international competitiveness during the past decade from 2007 to 2016 based on the market structure of the Belt and Road Initiative.

Findings

The results show that: China’s major biomass energy products have no comparative advantages in the world market, nevertheless, their international competitiveness is on the rise; China’s biomass energy products have been agglomerated to the regional markets where the market demand growth is fast in the Belt and Road countries; and the unreasonable structure is an important factor influencing the international competitiveness of China’s biomass exports.

Originality/value

The authors analyzed the international competitiveness of China’s biomass energy products based on the “Belt and Road Initiative” with all the trading items, in an effort to propose policy implications for enhancing the comparative advantages of China’s biomass products in the international market especially in the Belt and Road regions.

Details

International Journal of Energy Sector Management, vol. 14 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

Book part
Publication date: 30 March 2022

Liudmila V. Shkvarya and Hailing Yu

The relevance of the research topic is due to the high importance of the Belt and Road Initiative (BRI) for increasing the presence of China in the markets of the…

Abstract

The relevance of the research topic is due to the high importance of the Belt and Road Initiative (BRI) for increasing the presence of China in the markets of the countries of the New Silk Road. The topic becomes more relevant due to the ambiguous results of the BRI, although it was launched in 2013. On the one hand, the effect for China is growing. On the other hand, the effect for the participating countries has not yet reached the level initially declared.

The chapter aims to identify the main challenges and advantages of the BRI based on the involvement of countries and their markets in the trade and economic system formed by China.

The research novelty lies in studying the economic goals and objectives of the People's Republic of China (PRC) under the BRI and the possibilities of using the trade and economic system created by the PRC for developing the PRC and the BRI member countries.

The authors found that the initiative is designed to better integrate the economy of China at the regional and global level, promote the socio-economic progress of the less developed western territories of the country and stabilize foreign trade and domestic socio-economic processes in conditions of global instability. The authors justify that this initiative, uniting more than 80 countries in Asia, Africa and Oceania, will strengthen China's role in the world economy and trade, form a specific international trade and economic platform under the leadership of China and provide the country a leading position in at least three parts of the world.

The authors use traditional economic research methods, such as scientific abstraction, deduction, analysis and synthesis. Additionally, the authors use the method of visualization based on the application of the statistical method.

Details

Current Problems of the World Economy and International Trade
Type: Book
ISBN: 978-1-80262-090-0

Keywords

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