China’s Belt and Road Initiative: A Global Model for an Evolving Approach to Sustainable Regional Development

Muhammad Khan,Imran Sandano,Cornelius Pratt,Tahir Farid

doi:10.3390/su10114234

Muhammad Khan, Imran Sandano + Show 2 more

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https://doi.org/10.3390/su10114234

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Abstract

China’s Belt and Road Initiative (BRI) is a cornucopia of international projects that offer mammoth opportunities for more economic cooperation and deeper regional integration primarily among emerging economies. BRI is providing new drivers of sustainable economic growth in China and of cross-border trade, along with the reimagined land and “Maritime Silk Road”. The initiative focuses on restoring global balance and on expanding universally beneficial and inclusive relationships. This article argues that the forces of globalization are so pivotal to Eurasia, where development opportunities can propel the region toward a more comprehensive socioeconomic integration, that governments in that region need to provide more support that ensures the continuing success of BRI. In essence, BRI is a critical tool for peaceful development that is resulting in massive investments in infrastructure, that is facilitating economic development, and that is promoting shared governance. This article provides theoretical perspectives on BRI as a beachhead for sustainable regional development. It also highlights BRI programs and projects that have emerged as an internal and external policy framework for an openly inclusive “win–win” cooperation model based on shared development and on communities of shared interests.

Highlights

China believes in the equality of all countries, large and small, and we don’t believe some countries should lead others—rather than talking about leadership, we should really be talking about responsibility.—Wang Yi, Chinese Foreign Minister [1].The political values and economic norms of the international system are in flux
Political developments in the United Kingdom that led to Brexit and those from President Donald Trump’s antiglobalization rhetoric, “America First”, are evidence that globalization is being overrun by nationalism, protectionism, and isolationism in the West [2,3,4]
Some [19,47] have termed this initiative as China’s grand strategy to establish its political influence and rejuvenate at least its own neighborhood through economic development to neutralize the future risk of countervailing responses

Summary

Introduction

China believes in the equality of all countries, large and small, and we don’t believe some countries should lead others—rather than talking about leadership, we should really be talking about responsibility.—Wang Yi, Chinese Foreign Minister [1].The political values and economic norms of the international system are in flux. After the Cold War era, the global financial crisis (GFC) led to the resurgence of nationalism and protectionism in global politics. Political developments in the United Kingdom that led to Brexit and those from President Donald Trump’s antiglobalization rhetoric, “America First”, are evidence that globalization is being overrun by nationalism, protectionism, and isolationism in the West [2,3,4]. China’s worldviews on the free flow of commerce remain unencumbered, but the status quo is no longer consistent with U.S and the European Union trade and political preferences. Their commitments to the free flow of trade have pivoted toward self-serving impulses in the form of trade protectionism [3]

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