Abstract
The goal of this study is to determine how efficient the “One Belt One Road” strategy to stabilize and promote the growth of Asian economy. “One Belt One Road” strategy, which is advocated by the Chinese president Xi Jinping, may have the same value of “New Silk Road Strategy”. The strategy situates China as a regional trade and transit hub in the “Heart of Asia”. This study’s theoretical framework is a hybrid of fragile state theory and the new economic geography theory. The finding of this study is about the “One Belt One Road” strategy is more advanced than the traditional international development aid model. This study employee the Afghanistan and DPRK (Democratic People’s Republic of Korea) as the case studies to identify “One Belt One Road” strategy would promote the most fragile and isolated states to become more fully integrated into the regional and global economies by developing the transport, energy and mining sectors. The study further finds that the implementation of the hardware infrastructure projects may result in increased risk of failure in certain politically fractious and unstable regions of the countries. This study contributes substantially to aid policy by demonstrating the characteristics that are essential to a successful strategy for the development of a failed state that is geologicalcharacterized, fragile, and conflict-affected. Moreover, this study expands the use of econometric techniques such as cost-benefit analysis to the design of an economic development strategy for the failed states. Thus, from both theoretical and applied perspectives, this study will contribute to the emerging bodies of academic research on fragile states; post-conflict reconstruction and stabilization; geological-characterized less development countries; and applied and theoretical economic growth models.
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