The Belt and Road Initiative and Global Governance in Transition

Abstract

As protectionism and isolationism rise against globalization, China’s Belt and Road Initiative (BRI) provides strong momentum for advancing the transformation of global governance. First, the BRI strengthens the awareness of building a community of common destiny for mankind and promotes the evolution of epistemology in global governance. Second, it offers more sustainable global public goods, thus improving ethical standards for global governance. Third, the BRI combines the top-down and bottom-up approaches to encourage voluntary actions in global governance. Fourth, the BRI draws on China’s own experience in integrating reform, development and stability, which helps balance the economic, social, ecological, and security dimensions of global governance, so as to foster common development among countries and regions along the routes and ultimately create a new equilibrium between South-South and North-South cooperation. Promoted through consultation to meet the interests of all, the BRI will make both tangible and intangible contributions to the transition of global governance by delivering public goods and enhancing the notion of compatible justice in a deglobalized world.