Understanding China’s Belt and Road Initiative (2024)

[2] Zhai Kun, 一带一路:大国之翼:一带一路引领中国:国家顶层战略设计于行动布局 [“One Belt and One Road: The Wings of a Great Nation”, in One Belt and One Road Leads China: Strategic National Design and Implementation Guideline], Caixin Media Editorial Department ed (Beijing: China Wenshi Publishing House, 2015).

[3] ‘Neighbourhood’ refers to a disparate group of states located east of the Ural Mountains and west of the Bering Straits, south of the Caucasus Mountains and east of the Bosphorus Strait and the Suez Canal, and includes 63 countries from Asia, Russia, and Oceania, according to Xue Li, a senior researcher at the Chinese Academy of Social Sciences: “一带一路背景下的中国周边外交方略 [China’s Neighbourhood Foreign Policy against the Backdrop of One Belt and One Road]”, Financial Times (Chinese edition), 11 January 2016, http://www.ftchinese.com/story/001065641.

[4] For a full discussion of China’s Peripheral Diplomacy Work Conference, see Michael D Swaine, “Chinese Views and Commentary on Peripheral Diplomacy”, China Leadership Monitor 44 (Summer 2014), http://www.hoover.org/research/chinese-views-and-commentary-periphery-diplomacy.

[5] “习近平在周边外交工作座谈会上发表重要讲话 [Xi Jinping’s Important Speech at the Peripheral Diplomacy Work Conference]”, Xinhua News Agency, 25 October 2013, http://news.xinhuanet.com/politics/2013-10/25/c_117878897.htm.

[6] Ibid.

[7] Douglas Paal, “Contradictions in China’s Foreign Policy”, Carnegie Endowment for International Peace, 13December 2013, http://carnegieendowment.org/2013/12/13/contradictions-in-china-s-foreign-policy-pub-53913 - comments.

[8] Dipankar Banerjee, “China’s One Belt and One Road Initiative — An Indian Perspective”, ISEAS Perspective, Issue 2016, No 14, 31 March 2016, https://www.iseas.edu.sg/images/pdf/ISEAS_Perspective_2016_14.pdf.

[9] Andrew Small, The China–­Pakistan Axis: Asia’s New Geopolitics (London: Hurst & Company, 2015), 103–105.

[10] Justin YiFu Lin, 一带一路, 让中国市场经济体系更完善, 读懂一带一路,国家智库顶级学者前瞻中国新丝路 [“One Belt and One Road, Enables China to Perfect its Market Economy”, in Leading Scholars from National Think Tanks and Their Insights on China’s New Silk Road] (Beijing: CITIC Press, 2015), 5.

[11] Tang Min, 一带一路战略彰显大国心态,读懂一带一路,国家智库顶级学者前瞻中国新丝路 [“One Belt and One Road Shows China’s Great Power Attitude”, in Leading Scholars from National Think Tanks and Their Insights on China’s New Silk Road] (Beijing: CITIC Press, 2015).

[12] Dave Boyer, “At White House, Leader of Singapore Urges Congress to Approve Free-trade Deal”, The Washington Times, 2 August 2016, http://www.washingtontimes.com/news/2016/aug/2/singapore-pm-urges-congress-ok-free-trade-deal/.

[13] Carrie Grace, “US Leaving TPP: A Great News Day for China”, BBC News, 22November 2016, http://www.bbc.com/news/world-asia-china-38060980.

[14] Ben Blanchard, “Duterte Aligns Philippines with China, Says US Has Lost”, Reuters, 20 October 2016, http://www.reuters.com/article/us-china-philippines-idUSKCN12K0AS.

[15] See Johnson, “President Xi Jinping’s ‘Belt and Road’ Initiative”, 20.

[16] Chai Yifei, “三大战略肩负共同使命 [Three Strategies Shoulder the Common Destiny]”, The People’s Daily (overseas edition), 20 September 2016, http://paper.people.com.cn/rmrbhwb/html/2016-09/20/content_1713601.htm.

[18] David SG Goodman ed, Handbook of the Politics of China (Cheltenham: Edward Elgar Publishing, 2015), 198.

[19] The Free Market Index measures Chinese provinces’ degree of economic liberalisation. The Index is published by the China Economic Research Institute.

[20] Wang Xiaolu, Yu Wenjing and Fan Gang, “王小鲁 余静文 樊纲 中国市场化八年进程报告 财经 [A Progress Report on Eight Years of China’s March Towards the Free Market Economy]”, Caijing Magazine, 11 April 2016, 20.

[21] Small, The China–Pakistan Axis: Asia’s New Geopolitics, 69–70.

[22] Alok Ranjan, “The China–Pakistan Economic Corridor: India’s Options”, Institute of Chinese Studies Occasional Paper No 10, May 2015, 12, http://www.icsin.org/uploads/2015/06/05/31e217cf46cab5bd9f15930569843895.pdf.

[23] Lu Shulin, 中巴经济走廊是一带一路的旗舰项目和示范项目 : 张小安 : 中国周边频频起火了吗 [“China–Pakistan Economic Corridor Is the Flagship Project of OBOR”, in Is China’s Neighbourhood on Fire?, Zhang Xiaoan ed] (Beijing: Shijie Zhishi Publishing House, 2016).

[24] Guo Jianwei, 新疆金融业支持‘丝绸之路经济带’战略发展的结构和路径, 读懂一带一路,国家智库顶级学者前瞻中国新丝路 [“Xinjiang’s Financial Services Industry Supports Strategic Development of ‘Silk Road Economic Belt’”, in Leading Scholars from National Think Tanks and Their Insights on China’s New Silk Road] (Beijing: CITIC Press, 2015).

[25] Guan Youqing, 一带一路;第四次投资浪潮来临,读懂一带一路,国家智库顶级学者前瞻中国新丝路 [“One Belt and One Road: The Fourth Wave of Investment”, in Leading Scholars from National Think Tanks and Their Insights on China’s New Silk Road] (Beijing: CITIC Press, 2015).

[26] Arthur Kroeber, “The Never-ending Slowdown”, China Economic Quarterly 19, Nos 3 and 4 (November 2015), 4.

[27] Scott Kennedy, “Made in China 2025”, Critical Questions, Center for Strategic and International Studies, 1June 2015, https://www.csis.org/analysis/made-china-2025.

[28] Dan Breznitz and Michael Murphree, “The Rise of China in Technology Standards: New Norms in Old Institutions”, Research Report Prepared on Behalf of the US–China Economic and Security Review Commission, 16 January 2013, 4, https://www.uscc.gov/sites/default/files/Research/RiseofChinainTechnologyStandards.pdf.

[29] Ibid.

[30] Wang Erde, “中国制造2025应于一带一路无缝对接 [The Seamless Integration between Made in China 2025 and One Belt and One Road]”, 21st Century Business Herald, 20 May 2015, http://finance.sina.com/gb/experts/sinacn/20150520/17031264782.html.

[31] Sha Lu, “李克强的 ‘高铁外交’ 成绩单 [Li Keqiang’s ‘High-Speed Rail Diplomacy’ Scorecard]”, Xinhua News Agency, 26 November 2015, http://news.xinhuanet.com/finance/2015-11/26/c_128469565.htm.

[32] “中国制造2025解读之:推进先进轨道交通装备发展 [Interpreting Made in China 2025: Promoting the Development of Advanced Transport Equipment]”, The Ministry of Industry and Information Technology, http://www.miit.gov.cn/n11293472/n11293877/n16553775/n16553822/16633922.html.

[33] “China Wins Indonesia High-speed Rail Project as Japan Laments ‘Extremely Regrettable’ U-turn”, South China Morning Post, 29 September 2015, http://www.scmp.com/news/asia/southeast-asia/article/1862459/china-wins-indonesia-high-speed-rail-project-japan-laments.

[34] Robin Harding and Tom Mitchell, “Rail Battle between China and Japan Rushes Ahead at High Speed”, Financial Times, 20 December 2015.

[35] Cao Zheng, “高铁出海获历史性突破 中国印尼合建雅加达至万隆高铁 [High-speed Rail Export Scores Historical Breakthrough, China and Indonesia Will Jointly Build High Speed Rail between Jakarta and Bandung]”, 17 October 2015, Xinhua News Agency, http://news.xinhuanet.com/fortune/2015-10/17/c_128327911.htm.

[36] Lu Ruquan, “陆如泉,一带一路:油路上的中国 [One Belt and One Road, China On the Oil Road]”, Caixin, 6 July 2015.

[37] Xie Lirong, “移动通信标准翻身战 [Turning the Table on Mobile Telecommunications Standards]”, Caijing Magazine, 7 September 2015, 59.

[38] Hu Huaibang, “胡怀邦:以开发性金融服务‘一带一路’战略, 中国银行业 [Using Development Finance to Serve the OBOR Strategy]”, China Banking, 13 January 2016,http://www.cdb.com.cn/rdzt/gjyw_1/201601/t20160118_2187.html.

[40] “李克强叩门 ‘新东盟’ 产能合作成重要看点 [Li Keqiang Knocking on the Door of ASEAN Countries and Industrial Capacity Cooperation is the Key]”, Chinese Government Information Portal, http://www.gov.cn/zhengce/2015-11/19/content_5014521.htm.

[41] Peter Cai, “Curbs on Coal and Steel will Test Beijing’s Resolve”, TheAustralian, 19 January 2016, http://www.theaustralian.com.au/business/business-spectator/curbs-on-coal-and-steel-will-test-beijings-resolve/news-story/43dfa1b17bd88556d1b8746e0c7d2658.

[42] Charles Clover and Lucy Hornsby, “China’s Great Game: Road to a New Empire”, Financial Times, 13 October 2015.

[43] Li Keqiang’s Official Speech at the 17th ASEAN–China (10+1) Leaders’ Meeting, Nay Pyi Taw, Myanmar, 13November 2014, http://www.fmprc.gov.cn/web/ziliao_674904/zt_674979/dnzt_674981/qtzt/ydyl_675049/zyxw_675051/t1210820.shtml.

[44] Hu Huaibang, “以开发性金融服务‘一带一路’战略 [Using Development Finance to Service the One Belt and One Road Strategy]”, first published in China Banking Industry Magazine, 13 January 2016,http://www.cdb.com.cn/rdzt/gjyw_1/201601/t20160118_2187.html.

[45] Jin Qi’s speech in Hong Kong on 18 May 2016 at Belt and Road Summit, http://www.silkroadfund.com.cn/cnweb/19930/19938/32726/index.html.

[46] Ibid.

[47] Interview with a senior economic official from Hubei province, August 2016.

[48] “我省力推钢铁水泥玻璃过剩产能向境外转移, 河北省人民政府 [Hebei Province Promotes the Migration of Excess Capacities from Steel, Cement and Pleat Glass Sectors]”, Policy Directive from Hebei Provincial Government, http://www.hebei.gov.cn/hebei/11937442/10761139/12224328/index.html.

[49] Liu Xiao, Wang Xu and Wang ShuQin, 一带一路的愿景与行动,读懂一带一路,国家智库顶级学者前瞻中国新丝路 [“One Belt and One Road: The Vision and Implementation”, in Leading Scholars from National Think Tanks and Their Insights on China’s New Silk Road] (Beijing: CITIC Press, 2015), 169.

[50] Zheng Xinli, “在海外投資的方向与战术 [The Directions and Tactics in Investing Overseas]”, in 一带一路 金融大战略 [One Belt and One Road and the Grand Financial Strategy], Chen Yuan and Qian Yingyi eds (Beijing: CITIC Press, 2016), 76.

[51] “习近平在推进 ‘一带一路’ 建设工作座谈会上发表重要讲话 张高丽主持, 新华社 [Xi Jinping’s Speech at the One Belt and One Road Work Conference, Chaired by Zhang Gaoli]”, Xinhua News Agency, 17 August 2016, http://www.gov.cn/guowuyuan/2016-08/17/content_5100177.htm.

[52] Tanvi Madan, “What India Thinks about China’s One Belt, One Road Initiative (But Does Not Explicitly Say)”, Order from Chaos (blog), Brookings Institution, 14 March 2016, https://www.brookings.edu/blog/order-from-chaos/2016/03/14/what-india-thinks-about-chinas-one-belt-one-road-initiative-but-doesnt-explicitly-say/.

[53] Interview with Sameer Patil, Mumbai, India, August 2016.

[54] Kamran Haider and Ismail Dilawar, “Militants Strike Pakistan, Hitting China’s Economic Corridor”, Bloomberg, 26 October 2016, https://www.bloomberg.com/news/articles/2016-10-25/militants-return-to-pakistan-hitting-china-s-economic-corridor.

[55] “国开行建立900余 ‘一带一路’ 项目库 涉资金近万亿美元 [China Development Bank Builds One Belt One Road Project Bank and the Total Amount is Approaching One Trillion USD]”, Caijing, 28 May 2015, http://m.caijing.com.cn/api/show?contentid=3893051.

[56] Huo Yu, Wang Ling and Wu Hong Yu Ran, “一带一路会是海外的4万亿吗 [Will One Belt and One Road Become the Overseas Version of the Wasted Four Trillion Stimulus]”, Caixin Weekly, 15 June 2015.

[57] Ibid.

[58] Email interview with Andrew Collier, Managing Director of Orient Capital Research, October 2016.

[59] Interview with a senior Chinese financier, Beijing, June 2016.

[60] Huo Yu, Wang Ling and Wu Hong Yu Ran, “[Will One Belt and One Road Become the Overseas Version of the Wasted Four Trillion Stimulus]”.

[61] Ibid.

[62] Huang Yiping, 一带一路战略下的对外投资新格局,读懂一带一路,国家智库顶级学者前瞻中国新丝路 [“New Overseas Investment Landscape against the Backdrop of One Belt and One Road Strategy”, in Leading Scholars from National Think Tanks and Their Insights on China’s New Silk Road] (Beijing: CITIC Press, 2015), 138, 285.

[63] Ibid.

[64] “Thailand Rebuffs Railway Deal with China”, The Straits Times, 5 May 2016, http://www.straitstimes.com/asia/se-asia/thailand-rebuffs-railway-deal-with-china.

Understanding China’s Belt and Road Initiative (2024)

FAQs

What is China's Belt and Road Initiative explain? ›

The Belt and Road Initiative (BRI or B&R), known in China as the One Belt One Road sometimes referred to as the New Silk Road, is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in more than 150 countries and international organizations.

What are the disadvantages of the Belt and Road Initiative for China? ›

On the other hand, some cite economic problems such as slow progress, higher financial costs than expected, and non-transparent bidding processes. There are also political concerns raised from BRI projects in other countries, such as the risk of a debt trap, retaliation, and dual-use purposes of facilities.

How is China financing the Belt and Road Initiative? ›

The China Development Bank (CDB) and Exim Bank of China became the major financing sources for the BRI, together with support from the other four big state-owned commercial banks, in particular the Bank of China and the Industrial and Commercial Bank of China (ICBC).

What is the Chinese Dream Belt and Road Initiative? ›

The initiative, known popularly as “One Belt, One Road” (一带一路), appears to be a key instrument in achieving the Chinese Dream: restoring and legitimising the re-emergence of China as a world power and once and for all overcoming the nightmares experienced after the Opium Wars of the 19th century and their resulting ...

Why is the US against Belt and Road Initiative? ›

“Debt trap” has become a key phrase for US policymakers to comment on the Belt and Road Initiative. They accused Beijing of using it to increase control over countries along the Belt and Road routes (Parker and Chefitz 2018).

What are the success of BRI projects? ›

Success stories

Other BRI successes include the development of the first rail freight service connecting China to Europe via Iran, the revitalization of the port of Piraeus in Greece, and the construction of a railway line between Baku in Azerbaijan via the Republic of Georgia to Iran.

What are the drawbacks of the BRI? ›

However, projects under the BRI face certain drawbacks such as socio-environmental risks, financial risks, and governance and corruption challenges in partner states. Nevertheless, the BRI furthers Chinese lenders' and investors' outreach on a global scale and addresses host countries' developmental needs.

What are the risks of the Belt and Road Initiative? ›

There are potential environmental, social, and corruption risks associated with any large infrastructure project. These could include, for example, biodiversity loss, environmental degradation, or elite capture.

Does the Belt and Road Initiative cause more troubled Chinese overseas investments? ›

Saif and Zhao (2021) find that the quality of infrastructure in host countries along the BRI impedes Chinese overseas investment. Adopting firm-level data from 2005-2017, Jin et al. (2021) find that the BRI increases the probability of troubled Chinese overseas investments in the BRI countries.

Which country has China invested most in? ›

The United States is the top destination in the world for Chinese FDI, drawing in $183.2 billion, or 15 percent of China's total outflows, between 2005 and 2019.

Who funds the BRI? ›

The BRI initiative is supported by a range of funds and financial institutions such as the Silk Road Fund, China Development Bank, and the Export-Import Bank of China (China Eximbank). CIC Capital, a subsidiary of China's sovereign wealth fund, also finances BRI projects like other commercial banks.

Is the Belt and Road Initiative sustainable? ›

The Coalition is an open, inclusive and voluntary international network which brings together the environmental expertise of all partners to ensure that the Belt and Road brings long-term green and sustainable development to all concerned countries in support of the 2030 Agenda for Sustainable Development.

What is China's Belt and Road Initiative for kids? ›

The Belt and Road Initiative (BRI), also known as the New Silk Road, is a plan by the government of the People's Republic of China to build infrastructure for transportation, from China to other countries in Asia, Europe, and Africa.

When was the China Belt and Road Initiative? ›

What is China's Belt and Road Initiative quizlet? ›

To connect trade between China and the rest of Asia, Europe, and Africa (to be completed in 2049) Goals of the initiative. Strengthen investments and trade relations, develop new infrastructure to enhance financial cooperation and social/cultural exchange.

What are the benefits of China Belt and Road Initiative? ›

The World Bankestimates that by 2030, Belt and Road cooperation will bring an annual benefit of USD 1.6 trillion to the world, accounting for 1.3 percent of the global GDP and injecting strong impetus into global development. The BRI shines the light of happiness and makes new contributions to people's well-being.

What countries are in the one belt and one road? ›

Iran, Iraq, Turkey, Syria, Jordan, Lebanon, Israel, Palestine, Saudi Arabia, Yemen, Oman, United Arab Emirates, Qatar, Kuwait, Bahrain, Greece, Cyprus, Sinai Peninsula of Egypt. 3. 8 Countries of South Asia: India, Pakistan, Bangladesh, Afghanistan, Sri Lanka, Maldives, Nepal, Bhutan.

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