BRI Projects Research Articles

Формирование механизмов защиты транспортной инфраструктуры арк­тического проекта «Пояс и путь» с использованием параметрических CAT-облигаций

The BRI (Belt and Road) project is the vastest infrastructure initiative connecting different regions through China’s investment in transport networks and infrastructure. However, the project faces significant geopolitical risks that could significantly influence the efficiency and sustainability of traditional transport corridors. This article analyzes the risks associated with natural disasters for the Arctic BRI project, discusses the possibilities of its protection using insurance derivatives (insurance-linked securities, ILS) in general, and CAT bonds (parametric catastrophe bonds) in particular. The study includes a decomposition of natural disaster risks in the context of the Arctic BRI transport corridor linking China and European countries, and explores the possibilities of using parametric CAT bonds as a financial instrument to mitigate the impact of these risks.

An Analysis of the Economic and Policy Impacts of the Belt and Road Initiative on Participating Countries: A Case Study of Pakistan, Djibouti, and Sri Lanka

Abstract: The project, which the Chinese Government calls BRI, was launched in 2013 to promote global connectivity alongside economic development through long-term infrastructure projects in Asia, Europe and Africa. This paper assesses how the growth of BRI has impacted several beneficiary countries through case studies in Pakistan, Djibouti and Sri Lanka. In Pakistan, CPEC stimulated economic growth by promoting infrastructure development. The port development in Djibouti was facilitated by BIS funds, transforming the city into a major trading hub. In Sri Lanka, the Hambantota port project illustrates the problems of increasing debt and political constraints. This comparison of BRI projects in different countries reveals a range of achievements, but also challenges common to the public sector, such as debt management, economic dependency and the strategic implications of foreign investment. recommendations for optimizing BRI performance include strategic planning and diverse partnerships include. This study highlights the complex dynamics of large-scale international development initiatives between states and their relevance for participating countries.

Comparative Dynamics of the Belt and Road Initiative: Unveiling the Unique Position and Implications of the China-Pakistan Economic Corridor

The Belt and Road Initiative introduced by China is one of the biggest infrastructure and development projects striving to facilitate commercial exchanges and stimulate growth through construction, trade, and investment links across countries and continents. Under this grand framework, the China-Pakistan Economic Corridor (CPEC) arose as a significant and novel dimension of the deepening bilateral relationship between Beijing and Islamabad Meanwhile CPEC plays a strategic role as a critical artery that aims to redefine the regional dynamics. This article undertakes analytical research to disclose the position as well as consequences of CPEC among other projects comprising the BRI on a global scale. Through fine-grained analysis of the political, economic, and social dimensions of CPEC somehow positioned next to other BRI projects, this study can identify the uniqueness of CPEC at the level of its ambitions, challenges, and implications on both regional geopolitics and economic frameworks. The paper draws upon a combination of qualitative and quantitative data, comprising CPEC project results, bilateral agreements, and economic indicators, among others, to demonstrate how CPEC functions as a driving force towards economic transformation in Pakistan with associated implications for international trade corridors. Moreover, the research sheds light on the geopolitical strategies behind China’s investments and brings to the surface how CPEC is not only employed in economic affairs but rather military and geopolitical interests for China in South Asia as well. Such a comparative study assists in the process of knowing the multilayered nature of the BRI, and bringing forth those emerging insights on how projects like CPEC can form the structure of global economic and governance engagement of the 21st century.

The US-China Trade War in the 21st Century: A Critical Analysis

China is a growing economy in the 21st Century with 18,536 (USD billion) GDP in 2024 while the USA is in rank 1st with 28,783(USD billion) GDP. Both Powers are trying to indulge other countries in economic deals. BRI, CPEC, and many other projects started by China to open the world market and expand trade. It's a check for the Economic Hegemonic design of the USA. Both Countries are trying to level each other. The rivalry between the US and China is going verse day by day and it is impacting on hegemony of other developing states. The purpose of this qualitative research is to elucidate the US-China trade war in the 21st century in the global world and how it is affecting the others actors in the World.

BRI Project: Are There Alternatives?

BRI Project: Are There Alternatives?

Растущая роль Ирана в евразийских транспортно-коммуникационных проектах

Iran, belonging to the “middle powers” type in terms of its military and economic capabilities, is one of the influential and energetic states in Eurasia with great ambitions. In the emerging new geopolitical reality, accompanied by an imbalance of the existing international system and a change in the configuration of forces, Iran positions itself as an important regional player. The aim of this study is to analyze the growing role of Iran in the emerging Eurasian transport and communication systems. The emerging transport and communication systems in Eurasia with the participation of two major regional centers of power – Russia and China – became a challenge for Iran. The respond of the Iranian administration is increasing the activity of its Eurasian diplomacy. In turn, Russia and China, recognizing Iran’s unique geopolitical location, show interest in building strategic and mutually beneficial cooperation in the field of joint implementation of transport and communication projects. Iran’s transit potential is one of the factors contributing to the strengthening of cooperation with the countries of Central Asia. At the same time, there is mutual interest when the countries of Central Asia that do not have access to the open sea respond positively to Iran’s proposal to strengthen transport and communication cooperation. The Chinese BRI project, where Central Asian countries play a key role, opened a new chapter in bilateral cooperation between Iran and China. In Iran, China is perceived as an ally in the fight against American hegemony, which allows us to talk about the Sino-Iranian model of cooperation that developed in the conditions of the formation of a new world order. The author concludes that Iran has good opportunities for wider involvement in regional processes due to its geostrategic position. Iran’s transit advantages allow it to play a significant role in the emerging Eurasian transport and logistics systems and position itself as the leading transport and logistics hub of Eurasia. In view of the global geopolitical competition that changed international trade flows, the importance of countries that have significant transit potential and can offer attractive alternative routes is increasing. In this regard, Iran is a rather interesting partner, acting as a bridge between North and South, East and West. Given the geopolitical and geo-economic potential, Iran’s role in regional and global processes will increase.

РАЗВИТИЕ ТОРГОВЫХ И ИНВЕСТИЦИОННЫХ СВЯЗЕЙ МЕЖДУ ЕАЭС И КНР В КОНТЕКСТЕ РЕАЛИЗАЦИИ ПРОЕКТОВ ИНИЦИАТИВЫ "ОДИН ПОЯС - ОДИН ПУТЬ"

The article concerns the specifics in the evolution of trade and investment ties between the EAEU and the PRC under the framework of the Belt and Road Initiative and implementation of its projects. It analyses rates of goods turnover between the EAEU and the PRC growth and goods structure and estimates the construction and transport services trade and the role of the PRC as FDI provider for the EAEU. The article also highlights the key features in the evolution of trade and investment ties, concerning the implementation of the Belt and Road Initiative projects. The main features include: high rate of growth of trade in goods and in services, especially in construction and transport services; inflow of the Chinese investments in the EAEU economies; unevenness of such a growth, with the PRC outpacing it. The author underlines the necessity of advancing the cooperation mechanisms between the EAEU and the PRC for better synergy of BRI projects and EAEU development strategies.

Expected levels of sectoral economic integration: implications of the BRI project for resource-rich countries

Expected levels of sectoral economic integration: implications of the BRI project for resource-rich countries

Tests of goods market integration between China and African BRI countries

AbstractThe Chinese Government has promulgated the “Belt and Road Initiative” (BRI) to increase trade flows and integrate goods markets between China and BRI countries. The validity of purchasing power parity (PPP) implies well‐integrated goods markets, a precondition for further economic convergence, and the next stage of economic integration in factor, service, and financial markets. Our study aims to examine the validity of the PPP and the extent of goods market integration between China and selected BRI countries in Africa. Since the functional form of the cointegrating relationship may not be exact or linear, we adopt the nonparametric rank tests for analysis without prior knowledge and specification of the functional form. We also address the rank problems that occur in multivariate rank tests. Our empirical results provide strong evidence of an unrestricted PPP relationship with reasonably strong evidence of nonlinearity in the data. We also find that some African BRI countries have experienced goods market integration with China during the second‐half period only. This indicates that the introduction of the BRI in 2013 and China's active involvement in African economic development through BRI projects are leading to enhanced goods market integration between China and Africa. The results indicate favorable prospects of closer economic cooperation in the factor, service, and financial markets to build a free trade area or common markets with BRI countries in Africa.

Rethinking Indonesia’s Interests in the BRI Projects under Jokowi’s Presidency: The Pros and Cons

Rethinking Indonesia’s Interests in the BRI Projects under Jokowi’s Presidency: The Pros and Cons

How ASEAN and Western media covers China’s Belt and Road Initiative: a case study of representation of the Laos-China railway under international news flows framework

The research uses the coverage of the Laos-China railway as a case to compare how media in ASEAN versus Western countries represents China’s Belt and Road Initiative. Under the framework of international news flows, through investigating the agenda-setting, news source distribution and frames of 137 stories by 42 news outlets in seven ASEAN and seven Western countries, the study finds that the long-existing imbalances in volume, direction and content of information in international news flows have seen continuities and changes. On the one hand, the international news flows remain unidirectional from the center toward semi-peripheral and peripheral zones in the world system, rather than the other way around. On the other hand, the dominance of Western media in the flows as major news suppliers providing the master narratives of most international events has been disrupted due to the emergence of counter-narratives offered by alternative news providers such as China’s Xinhua and Asian News Network. Such continuities and changes in international communication flows exemplified by the media coverage of a China’s BRI project serve as both empirical evidence of a broader global power shift and a thermometer measuring the Global North’s and Global South’s reactions to such a shift.

A Quantitative Analysis of the Belt and Road Initiative

Purpose: The article aims to examine the effects of the Belt and Road Project (BRI) of China and its recent developments.
 Methodology: It does this by analyzing the effects Chinese investments have had on their largest beneficiaries. The article considers several factors such as transport, energy, and debt profiles of the countries after receiving aid under BRI.
 Findings: Through our analysis, we have found that the project is by far the most secure investment developing countries might have especially considering the diminishing aid of the USA and European countries. It is largely beneficial for both China and the beneficiaries encouraging economic growth. We have made our conclusions based on data reported through various research articles both domestic and international. These include but are not limited to papers from the SAIS-CARI website, the American Enterprise Institute (AEI), the World Bank, and the Boston University Energy Database.
 Recommendations: We recommend that in the future studies should be further conducted on the progress of BRI projects that have been started or planned in the future as well as the effects previous long-term investments are currently having on beneficiaries. Some research should also be conducted comparing the effectiveness of loans from the US and European countries when compared with Chinese counterparts

That Ship Has Sailed: China’s Belt and Road Initiative and the Marcos Administration

What are the prospects for the Belt and Road (BRI) in the Philippines? How will Marcos’ foreign policy impact BRI projects in the country? The authors argue that the BRI’s prospects are less optimistic now because (i) the Philippines’ experience with Chinese infrastructure projects during Duterte’s time was not overwhelmingly positive and (ii) China continues to occupy the West Philippine Sea. China’s BRI missed its chance of capitalising on the political climate during the Duterte administration.

Empirical Case Studies on the Economic and Political Effects of the Belt and Road Initiative in Pakistan, Kenya, Sri Lanka, and Montenegro

The Belt and Road Initiative has had a wide range of effects on participating countries. Its economic and political implications continue to raise important questions about China’s global influence using soft power. The BRI initiative has the potential to accelerate globalization and boost domestic economies. This paper analyzes the BRI’s involvement in three geopolitical regions (Asia, Africa, and Europe) by examining the economic and political impacts of four internal BRI projects: Chinese Pakistan Economic Corridor (CPEC), Mombasa-Nairobi Standard Gauge Railway, International Hambantota Port, and Bar Boljare Highway. The analysis is conducted by examining different outcomes of each project using a predetermined rubric which considers economic (GDP, FDI, trade, social welfare, debt sustainability) and political (internal power, international relations) implications. The analysis of all four case studies conclude that Kenya and Pakistan have benefited from their respective BRI projects, while Sri Lanka and Montenegro’s BRI projects appear unsuccessful due to lack of strategy involved in their placement/creation. Furthermore, all four countries suffer from varying amounts of debt distress as a result of Chinese BRI investment. Lastly, the BRI provides outlets for Chinese involvement in internal power (especially in the case of Kenya and Sri Lanka), as well as strengthens Sino relations with participating countries.

Revisiting India’s Neighborhood First Policy in the Context of Growing US China Engagement in Nepal

Where does India’s Neighborhood First policy stand in the context of U.S.-China’s growing strategic engagement in Nepal? It has been realized that Indian Prime Minister Narendra Modi's Neighborhood First Policy was unable to deliver on its economic and developmental promises in a multifaceted manner. Mr. Modi’s initial engagements with Nepal were perceived as accommodating policies, and it was believed that they would bring about a “paradigm shift” that would replace the “Nehru Doctrine.” However, going against the spirit of the speech delivered by Mr. Modi in Nepal’s Constituent Assembly, India imposed an unofficial blockade that pulled down Nepal-India relations. Further, Kalapani border disputes and Mr. Modi’s unwillingness to receive the EPG report also added to the trust deficit. The EPG report was expected to reactivate the trust. However, this vacuum gives the U.S. and China an opportunity to increase their strong presence in Nepal. China’s interest in getting access to South Asia via the BRI project overlaps with the MCC. So, their rivalry to create strategic space in Nepal is going on. On the one hand, India has not joined BRI and believes it String of Pearls strategy. Further, the country perceives any development in the Himalayan region as a security threat. On the other hand, India and the U.S. are global allies since China’s takeover of Tibet and they have held similar views on Nepal. Considering the growing bipolar strategic rivalry between China and the U.S., this paper examines where India’s Neighborhood First policy stands and what the state of its implementation will be. This study uses qualitative, exploratory research techniques to analyze the geopolitical relation and diplomacy.

Media views in Indonesia on the belt and road initiative policy : a study of Indonesian new media reports to the BRI project of China in Indonesia

The pros and cons of the project of BRI in Indonesia cannot be separated from mainstream and online mass media coverage in Indonesia. In the coverage, there is a framing to build a story so that the influence of journalists is so great that the news is read by the public. In addition, the informant factor as well as ideology influence the news statements that appeared in the media. This research focuses on how the construction of the mass media coverage in Indonesia, especially the new media (online news) related to the cooperation between Indonesian and Chinese government in the BRI project. The research uses a qualitative descriptive approach and framing analysis. The research object is the official portal of online news such as Media Indonesia.com. Republika.com Kompas.com, and Jawapos.com. Based on the results of research and discussion, it can be concluded that the framing of online media coverage Kompas.com, mediaindonesia.com, jawapos.com and Republika.com have differences. Kompas.com and jawapos.com put more emphasis on scientific and intellectual language because both of their readers have a better level of education and economics. Whereas republika.com and mediaindonesia.com tend to use straightforward and simple language. Kompas.com and jawapos.com lead opinions to think critically with data while republika.com and mediaindonesia.com leads the public to see the implementation of Indonesia's and China economic cooperation programs in the BRI project.

Conflict in Yemen and its impacts on China’s interests in the region

The conflict in Yemen, which has been going on for 8 years, has great repercussions for Yemen and the entire region. Yemen’s strategic position has made it a key player in a crucial area that influences energy supplies, and international shipping routes, as well as a point of contact between Asia, Africa, and Europe. China, the area’s greatest economic partner and largest importer of oil, was one of those affected, particularly with the announcement of the Chinese BRI and its massive projects in the region. The prolonged conflict in Yemen has hampered Chinese investments and the construction of several key and strategic BRI projects in Yemen, as well as jeopardising many of its mega projects in the region. It also posed a new threat to the Red Sea and the Gulf of Aden’s sea routes, as well as the establishment of new military bases in strategic areas capable of controlling international trade routes and intensifying military rivalry in the region.

A contender state’s multiscalar mediation of transnational capital: the belt and road in the Middle East

ABSTRACT The article assesses trans-scalar drivers of Belt and Road initiative’s (BRI) activities in the Middle East. It engages critically with the concepts of territorial and capitalist logics of power based on the contender state-society complex’s concept. The imprints of China’s contender state are identifiable in its peculiar mode of mediation of transnational capital both in terms of the state ownership-leadership of BRI projects’ and of their effective and potential outcomes. While BRI fixes over-accumulated capital through valorisation in external geographies, it is modulated to respond to a set of multi-scalar political and economic imperatives. Studied activities in the Middle East contribute to China’s energy security in terms of direct access to oil, trade routes, and oil invoicing practices. Transports and logistics investments strategically integrate the mainland’s underdeveloped regions as central nodes in the BRI’s transnational capital flows to dynamise their economies and ensure political stability. Beijing seems to be conducting a territorially embedded strategy to restructure the international monetary system through new oil-related financial and monetary arrangements with Middle East producers. Geopolitically, BRI reduces dependence on US-dominated global connectivity networks, thus increasing Beijing political autonomy.

How Belt and Road Initiative Helped Pakistan's Combat against the Covid-19 Pandemic

This article aims to discuss the character of Chinese Belt and Road Initiative during Pakistan's combat against the Covid-19 pandemic. When Pakistan is facing the challenge in its healthcare sector and economic sector, the cooperation with BRI project brings assistance against these two dilemmas. This article believes BRI project positively assisted Pakistan's combat against the Covid-19 pandemic, both from health and economic perspectives.

China’s Investment in the East Coast Railway Line (ECRL) Project in Malaysia as a Strategisation of Space

The rise of China’s power has led the country to fulfil more energy supply to sustain its industrial development. However, the Straits of Malacca challenges disturbed China’s interest to transport oil from the Middle East. Hence, China chooses the BRI project to maintain the problem. This paper will try to examine China’s strategy of constructing an ECRL project in Malaysia as one of the BRI projects to be an alternative to fulfil its energy supply. This qualitative research will employ the concept of power and connectivity. The use of the ECRL Project to Strategise Chinese Interest in energy supply will also be explained to answer the research questions.