International economic policy of Iran, Pakistan and Kazakhstan within China ”Belt and Road” initiative

Abstract

China’s “Belt and Road” Initiative is the most ambitious megaproject of the current international political economy. With this plan, China pursues economic growth goals, especially energy security, expanding its influence in various regions, accessing global markets, and creating more cost-effective communication and transportation systems. The idea of the project is to facilitate the supply of energy, goods and bring multiple parts of the globe closer to China. This article deals with the opportunities and challenges of cooperation between Iran, Pakistan, Kazakhstan, and China by relying on qualitative research methods such as document observation and analysis. In this regard, the main research question is what opportunities and challenges do the “Belt and Road” Initiative as China’s foreign policy strategy bring to Iran, Pakistan, and Kazakhstan? In response, the hypothesis raised to this research question is that this initiative, in addition to influencing the future of these three countries, could have positive geoeconomic consequences for them. This research notes that it can contribute to developing and deepening these countries’ relations with China by capacity building for regional dominance, simultaneously facilitating interaction with both East and West, diversifying the onshore and offshore routes and energy import bases, while also ensuring, facilitating, and enhancing energy transmission security for suppliers and consumers. Concerning the consequences for the region, it may assert China’s dominance over the geoeconomic structure of Iran, Pakistan, and Kazakhstan and intensify competition between Russia, India, and the U.S. in the region.