China’s Marine Political Economy in the South China Sea and Its Development Strategy under the Belt and Road Initiative: Opportunities, Challenges, and Trends on the 14th Five-Year Plan

Abstract

To assure a brilliant and prosperous future of China, the Chinese government has been deliberately and continuously designing and promulgating a series of national plans and grand strategies. The implementation of the Belt and Road Initiative (BRI) and every Five-Year National Plans become absolutely important momentum to lift up China’s economy, which is seen as “Xiconomics.” To better realize the goals of these grand projects and national plans; the Chinese government also has smartly invented different institutions and regimes such as the Asian Infrastructure Investment Bank (AIIB), the Silk Road Fund, forums, dialogues, or the establishment of strategic partnerships. As on China’s power expansion, the South China Sea definitely is one of the most important regions and areas for searching marine energy and resources. As on the BRI, that is to say, the “twenty first Century Maritime Silk Road,” the South China Sea is a critical route for ships from China’s coastal ports to the Indian Ocean, and then to European States. It is also a strategic route for ships to the South Pacific from China. Beijing firmly claims that the South China Sea is one of its national core interests without suspension and incredulity. Coincidentally, as on China’s National 14th Five-Year Plan (14th FYP), building a “Beautiful China” by 2035 is one of its goals of sustainable development and enhancement of people’s wellbeing. Thus, the South China Sea has occupied a very important position and national development for future sustainable development and marine economy. This paper aims to examine China’s marine political economy in the South China Sea as well as to scrutinize its strategic considerations and layout since 2021.