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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 such…

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

Keywords

Book part
Publication date: 21 October 2020

Lan Jiang

The growing power of China's economy with its ‘One Belt One Road’ initiative 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 Road’ initiative 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 Road’ initiative 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 Road’ initiative for creating higher growth and economic development through infrastructure connectivity, increased trade and investment. It discusses the challenges of the ‘One Belt One Road’ initiative 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 Road’ initiative 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: 4 November 2020

Xujin Pu, Zhenxing Yue, Qiuyan Chen, Hongfeng Wang and Guanghua Han

This paper's purpose is to suggest that manufacturers strategically place soft orders for assembly materials with suppliers in Silk Road Economic Belt countries who probably doubt…

Abstract

Purpose

This paper's purpose is to suggest that manufacturers strategically place soft orders for assembly materials with suppliers in Silk Road Economic Belt countries who probably doubt the realization of the soft orders placed.

Design/methodology/approach

First, a two-stage Stackelberg competition is constructed, taking into account the supplier's trust level in formulating the decision process in the assembly supply chain. The authors then provide a buyback contract to coordinate the supply chain, in which the manufacturer obtains enough supplies by sharing some of the perceived risks of not fully trusted suppliers. Furthermore, the authors conduct a numerical study to investigate the influence of trust under a decentralized case and a buyback contract.

Findings

The authors found that all supply chain partners in Silk Road Economic Belt countries experience potential losses due to not fully trusting certain conditions. The study also shows that, in Silk Road Economic Belt countries, operating under a buyback contract is better than being without one in terms of assembly supply chain performance.

Research limitations/implications

On the one hand, the authors only consider the asymmetry of demand information without considering that of cost structure information. On the other hand, a natural extension of the paper is to integrate single-period transactions into the multi-period transaction problem setting. As all these issues require substantial effort, the authors reserve them for future exploration.

Originality/value

Doing business with not-fully-trustworthy partners in Silk Road Economic Belt countries is risky, and this study reveals how trust works in global cooperation and with strategic reactions in situations of partial trust.

Details

The International Journal of Logistics Management, vol. 31 no. 4
Type: Research Article
ISSN: 0957-4093

Keywords

Open Access
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

Keywords

Book part
Publication date: 10 July 2019

Xin Wei, Yuxin Wei, Peng Chen, Cencen Fan, Heng Luo, Qianqian Zhao and Yingchao Kong

In 2013, Chinese president Xi Jinping proposed the concept of “One Belt and One Road” economic cooperation. “The Belt and Road Initiative (B&R)” is the short of “The Silk Road

Abstract

In 2013, Chinese president Xi Jinping proposed the concept of “One Belt and One Road” economic cooperation. “The Belt and Road Initiative (B&R)” is the short of “The Silk Road Economic Beltand the “21st-century Maritime Silk Road,” which has got a series of remarkable achievements and worldwide attentions in past five years such as Asian Infrastructure Investment Bank, China–Pakistan Economic Corridor, B&R Forum for International Cooperation, etc. Especially, cross-border EC has greatly strengthened the trade links between countries along the way, which is a rare chance for Chinese Export-oriented Cross-border EC’s rapid growth. Thus, the authors take DHgate.com as a typical example to do a big data analysis. This chapter analyzes vast data from 2013 to 2017 about seven kinds of commodities including Fashion accessories, Jewelry, Sports & Outdoors, Security & Surveillances, Car accessories, Watches, and Hair & Styling by using data mining related software and algorithms. The authors do some monthly sale charts and find a few counter-intuitive but useful conclusions such as by taking association analysis, the study shows that sports products and jewelry products have strong association rules. In addition, for potential products (such as Fashion accessories and Jewelry), although their sales have a certain shock, the overall selling line keep rising. It is possible to put forward some practical suggestions for Chinese Export-oriented Cross-border EC that actively respond to the One Belt One Road Initiative based on these analysis results.

Details

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

Keywords

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 Road” initiative. 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 Road” initiative has been proposed and implemented for five years. The research on Singapore's cognition and reaction of the “Belt and Road” initiative is still insufficient. Therefore, an in-depth study of Singapore's cognition of the ‘Belt and Road” initiative has significant academic and applied value. This paper attempts to explore the construction of the “One Belt, One Road” initiative 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: 26 June 2023

Pengfei Ge, Xiaoxu Wu, Bole Zhou and Xianfeng Han

This study aims to determine how and through what mechanisms the outward foreign direct investment (OFDI) promotion effect of the Belt and Road initiative (BRI-OFDI) affects…

Abstract

Purpose

This study aims to determine how and through what mechanisms the outward foreign direct investment (OFDI) promotion effect of the Belt and Road initiative (BRI-OFDI) affects domestic investment. It is motivated by the context that China is fostering a new development pattern, as well as by the impetus from the Belt and Road initiative for the new pattern.

Design/methodology/approach

Drawing on data of Chinese-listed companies, this study uses a difference-in-difference method to explore the effect of the BRI-OFDI on domestic investment and a mediation model to illustrate the mechanisms.

Findings

The BRI-OFDI has a significantly positive effect on domestic investment, meaning that the Belt and Road initiative's OFDI promotion effect crowds in domestic investment. The results are heterogeneous: the crowding-in effect mainly exists in non-state-owned and technology-intensive enterprises, while a crowding-out effect is seen in state-owned and labor-intensive enterprises. The easing of corporate financing constraints and the expansion of market demand are two important mechanisms.

Originality/value

This study uses the Belt and Road initiative as an exogenous shock to investigate the impact of the initiative-induced OFDI promotion effect on domestic investment. It addresses the potential endogeneity issue confronting the studies on the relationship between OFDI and domestic investment in the literature. The authors focus on the possible spillover effects of the Belt and Road initiative discussing the impact of the BRI-OFDI on domestic investment from the micro-firm perspective. It offers a new perspective to objectively assess the initiative's policy effect.

Details

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

Keywords

Article
Publication date: 29 October 2018

Krzysztof Kozłowski

The purpose of this paper is to analyze the perspectives of the People’s Republic of China (PRC) Belt and Road strategy. The challenge in terms of studying the New Silk Road

Abstract

Purpose

The purpose of this paper is to analyze the perspectives of the People’s Republic of China (PRC) Belt and Road strategy. The challenge in terms of studying the New Silk Road concept comes from the fact of dramatic difference between the declared ambitions of the Chinese state and the elusive character of concrete Chinese involvement, in particular as far as the digital dimension of the strategy is concerned.

Design/methodology/approach

The goal will be achieved by comparing the Chinese expansion in the Post-Soviet Central Asia with nowadays declarations concerning the digital version of the New Silk Road. For China, the Post-Soviet Central Asia was the first frontier approached on the basis of genuinely own integration strategy: the New Silk Road Diplomacy, which later evolved into the New Silk Road concept. An overview of Chinese activity in the region tells a lot about its grand strategy of today.

Findings

To paraphrase T.S. Kuhn, what one sees depends on not only what one is looking at but also what one has learned to notice. The Post-Soviet Central Asia shows the way Beijing thinks about integration. PRC achieved the most by basing on the free rider effect: concentrating on economic expansion, while other Powers provided relative regional security and stability.

Originality/value

The comparison of the beginnings of the New Silk Diplomacy in the 1990s with the plans of the New Digital Road gives a unique angle to grasp the specific features of the Chinese approach to international integration.

Details

Journal of Science and Technology Policy Management, vol. 11 no. 3
Type: Research Article
ISSN: 2053-4620

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 of…

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

Keywords

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

1 – 10 of over 4000