Road Initiative Research Articles

Bilateral Cooperation Between China and Peru Under the Belt and Road Initiative --From Strategic Layout to Future Prospects

In recent years, the bilateral relationship between China and Peru has developed rapidly, especially with the advancement of China’s Belt and Road Initiative (BRI), leading to significant progress in cooperation across areas such as economy, trade, and investment. As a major country in Latin America, Peru holds unique advantages in terms of its geopolitical location, resource reserves, and market potential, making it a key partner for China within the region. This paper explores the background of Sino-Peruvian relations, the advancement of the BRI in Latin America, and the strategic importance of Peru's Chancay Port project.

The Belt and Road Initiative: Geopolitical Implications for South Asia

Abstract: The Belt and Road Initiative (BRI) has been initiated in China in 2013 as a transformative global infrastructure and development endeavor involving more than 70 nations. Aside from its economic and financial implications, however, the BRI is often also perceived as Chinas expansionist strategy in increasing soft power. With South Asia playing a pivotal role due to its strategic position and growing economic potential, this paper examines the geopolitical implications of the BRI and Chinese influence in the region. The study explores BRI projects with case studies, revealing how the initiative both offers prospects for economic growth and highlights challenges around sovereignty, debt dependency, and regional security, especially in a region marked by historical rivalries and political complexities. Particular attention is given to the effects of the BRI on the power balance between China, India, and other South Asian nations, as well as its broader impact on strategic partnerships and regional dynamics. Through an analysis of key BRI projects in South Asia and its implications, this paper assesses both the opportunities and challenges the initiative presents, offering insights into the enduring geopolitical consequences for the region.

Does the Belt and Road Initiative boost industrialization? Empirical evidence from African economies

Does the Belt and Road Initiative boost industrialization? Empirical evidence from African economies

Investment Potential in Latin America under the Belt and Road Initiative

This study analyzes the current state, influencing factors, and potential of China's investments in Latin America under the Belt and Road Initiative (BRI). Through a systematic review of China's investments in sectors such as mining, energy, agriculture, infrastructure, and manufacturing in Latin America, the research explores the impact of geographical distance, institutional quality, infrastructure level, and cultural differences on Chinese enterprises' investments. The findings suggest that despite the vast geographical distance between China and Latin America, economic ties are strengthening through overseas infrastructure investments and financial cooperation. The study proposes policy recommendations to further promote bilateral investments through institutional reforms and localized strategies. The research provides theoretical support for Chinese enterprises' investment decisions in Latin America and serves as a valuable reference for policymakers.

Reconceptualising Security-development Paradigm: A Critical Analysis of Chinese ‘Development Peace Model’ in the Middle East

In recent years, China has emerged as a significant player in the intersection of international security and development in the Middle East. This development coincides with a decline in the enduring dominance of the US in the region’s security and development affairs. In contrast, China has pursued a cautious, impartial and novel concept of zero enemy policy with regional states. While existing research has explored Chinese economic engagement in the Middle East, literature focusing on the ‘Development Peace Model’ in relation to the Belt and Road Initiative (BRI) remains limited. This article aims to provide a critical analysis of how China’s pursuit of a multi-polar world order, based on principles of neutrality and partnership for promoting stability through the ‘Development Peace Model’, offers an alternative approach to ‘Liberal Democratic Peace’ in the Middle East. Furthermore, the article examines why Middle Eastern states are receptive to China’s ‘Development Peace Model’ as they seek to address their economic crises.

Development of Economic Cooperation Between Russia and China in the Condition of New Geopolitical Threats and Challenges

The purpose of the study is to analyse the state and directions of development of foreign economic cooperation between the Russian Federation and the People’s Republic of China in conditions of growing macroeconomic instability. During the study, the following tasks were set and solved: the prerequisites for the formation and content of the global foreign economic initiative ‘One Belt, One Road’ (OBOR) were analysed (Belt and Road Initiative [BRI]), as well as Russia’s participation in the implementation of transnational infrastructure projects; the advantages and risks of implementing the strategic initiative ‘BRI’ for the state of the economy of Russia and China have been identified; an analysis of the dynamics of indicators of trade and economic cooperation between the Russian Federation and the People’s Republic of China was carried out; the main directions of development of Russian–Chinese foreign economic relations have been identified. It was determined that the sanctions restrictions imposed on Russia by a number of unfriendly states confirmed the validity of the decision on the need to expand foreign economic contacts with China. Dynamics of indicators of trade, economic and investment cooperation between Russia and China in the period from 2013 to 2023 indicates the steady growth of its indicators and the mutually beneficial nature of interstate relations. The analysis showed that the prospects for trade and economic cooperation between Russia and China within the framework of the strategic initiative ‘OBOR’ are determined by the projected sustainable growth rates of macroeconomic indicators of the participating countries, as well as the effectiveness of foreign economic policy instruments.

Geography: The Geopolitics of China–Pakistan Relations

This article argues that Pakistan's strategic location provides a strong foundation for the durability of its relations with China. In support of this claim, it assesses the impact of other key factors, including the “Indian factor,” in this bilateral relationship. The article illustrates Pakistan's “advantageous” location compared to China's inherent geographical limitations. The Chinese elite realized geographical realities from the beginning and pursued a long‐term partnership with Pakistan. This was evident from China's investment in megaprojects in Pakistan, which were all premised on geography. Pakistan's geographical location has served China's interests in various ways, including breaking China's encirclement, acting as a gateway to the outside world, and preventing the infiltration of militancy into the mainland during the Cold War. Pakistan can potentially act as a hub between China and other regional countries in the context of the Belt and Road Initiative. The article diverts emphasis from the “Indian factor” to enduring geographical conditions as the basis for the durable Beijing–Islamabad partnership.

Trilateral Dynamics of India–China–Nepal: Assessing Geo-strategic Relations in South Asia

The strategic importance of South Asia stems from its natural resources and advantageous location. However, in recent years, China and India’s rivalry in the subcontinent has altered the geo-strategic landscape in the region. Though much had been explored in the trilateral dynamics of India–China–Nepal, comparative analyses to empirically assess the relative strength of the relationships have been overlooked. Hence, the current paper examined the dynamics of these three countries by evaluating their ability to uphold their ties. It looked at India’s neighbourhood first policy with a particular focus on Nepal, and it further examined how China uses the Belt and Road Initiative (BRI) as a springboard to utilise it as a geopolitical manoeuvre to offset India’s hegemony in the area. On the empirical front, the paper examined the pattern of investment from China’s BRI in Nepal and contrasted it with China’s overall investment trends in Nepal. The paper argues that although BRI investment in Nepal is increasing, there is a significant decline in the overall investment from China. In contrast, India’s investment in Nepal had an upward trajectory that surpassed China’s investment volume. The paper discussed potential ways to achieve trilateral relations among these three countries by promoting sustained cooperation.

China’s Belt and Road Initiative

Is China using the Belt and Road Initiative (BRI) to advance its economic development or to fulfill broader geopolitical objectives? While the BRI is often touted as a primarily economic venture aimed at addressing domestic overcapacity, this paper posits that political objectives are equally important. Drawing on selectorate theory, I assess whether China uses this initiative for political purposes. If so, it would be more likely to partner with authoritarian countries it sees as more amenable to political influence. Using logistic and Cox models to analyze data from 2013 to 2020, I find that political considerations are as relevant as economic ones. This research contributes to a more nuanced understanding of the BRI within global political and economic contexts and explains China’s international strategy.

Impact of the Belt and Road Initiative on Global Trade and Economic Growth Amid China’s Slowing Growth

Since the inception of the Belt and Road Initiative (BRI), China’s trade relations with participating nations have experienced substantial growth. This study utilises data from the World Trade Organization (WTO) covering the years 2003 to 2021 to explore the dynamics of China’s foreign trade and assess the impact of the BRI on trade interactions with China. One of the central objectives of our research is to determine whether participation in the BRI has significantly contributed to trade growth with China, thereby strengthening economic ties and fostering bilateral cooperation. Another important objective is to analyse the changes in the BRI’s role in driving global economic growth amid China’s slowing growth. Through empirical analysis using data from over 180 countries, we evaluate the heterogeneous effects of the BRI across different continents. Our findings indicate that the BRI has had the most pronounced trade-stimulating impact on the continents of America, Europe and Africa, while trade volumes with Asian countries have seen only marginal increases. The relatively smaller trade growth in Asian countries can be attributed to the already high volume of trade activities due to their geographical proximity to China, which diminishes the marginal impact of the BRI. Additionally, the significant infrastructure investments under the BRI have been predominantly directed towards Africa and Europe, further explaining the smaller trade-enhancing effects observed in Asia compared to other continents. Furthermore, we identified the spillover effects of the BRI on non-participating countries. Moreover, significant differences in the BRI’s impact on global economic growth were observed before and after China’s economic slowdown. This article offers actionable policy recommendations to inform future decisions based on these findings.

Institutional quality configuration for encouraging private capital participation in PPP projects: evidence from 36 belt and road countries

PurposeThis study aims to explore how institutional quality impacts private capital participation in large-scale infrastructure development, particularly in public–private partnership (PPP) projects, aiming to enhance incentives for private sector involvement.Design/methodology/approachBuilding on new institutional theory, a triangular theoretical framework was constructed to analyze the high participation of private capital in PPP projects, focusing on seven key institutional factors. Data from 1,319 PPP projects across 36 Belt and Road Initiative (BRI) countries from 2015 to 2020 were then analyzed using a combination of necessary condition analysis (NCA) and fuzzy set qualitative comparative analysis (fsQCA) to evaluate the combined impact and interactions of these factors.FindingsResults indicate that high private capital participation does not hinge on a single institutional quality factor but results from the synergistic influence of multiple factors. The paths leading to high private capital participation can be categorized as regulatory-led, normative-cognitive synergistic, regulatory-normative synergistic and institutional failure-led. Among these, regulatory quality plays a central role in the regulatory-led; the synergy between political stability and voice and accountability is pivotal in the normative-cognitive synergistic, and the rule of law, in combination with voice and accountability, is essential to the regulatory-normative synergistic.Originality/valueThis research systematically examines the multidimensional impact of institutional quality, revealing how different institutional factors interact to influence private capital’s willingness to participate and behavior. It enriches applied research in institutional economics within PPP projects and provides a new theoretical perspective and methodological framework to the scholarly community.

Evaluating India’s FDI as a nonparticipant in the Belt and Road Initiative: synthetic control method analysis

Evaluating India’s FDI as a nonparticipant in the Belt and Road Initiative: synthetic control method analysis

Sino-Japanese Reactive Diplomacy Through BRI and FOIP in Bangladesh: Economic Implications

This study delves into the realm of Sino-Japanese reactive diplomacy within the context of Bangladesh. It primarily examines their engagements through the Belt and Road Initiative (BRI) and the Free and Open Indo-Pacific (FOIP) vision. The study evaluates these diplomatic efforts’ economic upshots in a continuously changing regional context. The contest between China and Japan for influence in Bangladesh has grown in the last few years due to the country’s constant economic growth. This study investigates how both nations use reactive diplomacy, reacting to each other’s actions and changing tactics to support Bangladesh’s economic growth. The Chinese government has invested significantly in infrastructure-related projects in Bangladesh as a part of the BRI, and Japan’s FOIP strategy strongly emphasises connectedness and high-quality infrastructure. This dichotomy of approaches leads to an intricate web of interactions with local stakeholders, reflecting diverse economic implications. However, the study emphasises how crucial it is to examine Bangladesh’s strategy for navigating this diplomatic rivalry—that is, how to balance the economic gains from bilateral investments while avoiding undue reliance or political entanglements.

Feasibility Study on the International Promotion of Wushu Bingdao under the Belt and Road Initiative: A Strategy Exploration Based on Multi-Method Analysis

Abstract Background: This study aims to explore the feasibility of the international promotion of Wushu Bingdao within the context of the Belt and Road Initiative. As a significant component of traditional Chinese culture, Wushu Bingdao holds potential for cross-cultural exchange. However, its promotion faces multiple challenges in the globalized context, such as cultural differences, a shortage of skilled practitioners, market competition, and the limitations of traditional promotion methods. Methods: Utilizing literature review, expert interviews, and qualitative analysis, this study systematically reviews literature related to the promotion of Wushu Bingdao, analyzing its cultural connotations and historical heritage, and identifying key obstacles to international promotion. Strategic recommendations are proposed to address these challenges. Results: The study reveals that enhancing the understanding of the cultural essence of wushu, developing a specialized team of international promotion professionals, standardizing the Wushu Bingdao system, and employing innovative international communication methods can significantly increase the visibility and influence of Wushu Bingdao globally, facilitating its exchange and development within global cultural diversity. Conclusion: Despite the numerous challenges facing the international promotion of Wushu Bingdao, leveraging the Belt and Road Initiative platform and combining innovative promotion strategies offer the potential for broader recognition and practice of Chinese Wushu Bingdao worldwide.

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.

The Impact of China’s High-speed Rail Overseas Investment on Economic Growth of the Belt and Road Countries

Formally proposed in 2009, China's high-speed rail ‘go global’ was effectively promoted in 2013 with the proposal of the Belt and Road Initiative (BRI), which expanded China's high-speed rail overseas investment to a global scale. Studying the impact of China's high-speed rail (HSR) investment overseas is of great significance for the continuous promotion of BRI. Based on the panel data of 46 countries along the Belt and Road from 2006 to 2021, the difference-in-difference method (DID) is used to evaluate the impact of China's HSR overseas investment on the economic growth of corresponding countries. Besides, heterogeneity analysis in terms of region is carried out in this paper. The empirical results show that, first, China's overseas investment in HSR promotes the economic growth of the countries along the Belt and Road, and this conclusion is confirmed by the parallel trend test. Second, compared with other regions, China's HSR investment has a more obvious positive effect on the economic growth of Asian countries.

The pathway to sustainable development: The roles of financial development, technological innovation, and educational development in energy poverty alleviation

AbstractThis paper investigates the dynamics of energy poverty by evaluating the roles played by financial development, technological innovation, and educational development, among other factors. It seeks to identify pathways for sustainable development in the Belt and Road Initiative (BRI) countries. Based on recent panel data from 2000 to 2020, this research classified the sample into various income groups for a comparative analysis. A multidimensional comprehensive index of energy poverty was then formulated through principal component analysis (PCA). This study assesses the relationships between variables using a novel panel quantile autoregressive distributed lag (QARDL), ordinary least squares (OLS), panel unit root tests, Kao cointegration tests, and Wald tests. The results of the Kao tests confirm the presence of cointegration among the variables across all income groups and the overall sample. The panel QARDL approach indicates a significant and negative long‐term relationship between financial development and energy poverty across all income groups other than the low‐income countries. Similarly, technological innovation has a negative long‐term association with energy poverty for most groups, with the exception being the upper‐to‐middle‐income countries. Furthermore, educational development negatively influences energy poverty in the long term for all groups other than lower‐middle‐income countries. The findings for the overall sample suggest that financial and educational development are negatively connected with energy poverty in both the long and short term, while technological innovation only has a negative connection in the short term. In addition, the Wald test results revealed time‐varying integration and parameter stability in both the long and short terms.

China’s Connectivity Politics vis-à-vis Global Challenges: a Roadmap to Strategic Development?

Abstract This article examines the transformative role of connectivity politics amid global upheaval, focusing on China’s Belt and Road Initiative (BRI) and Western connectivity strategies. It explores how China’s strategic use of connectivity has enabled it to navigate crises and exert global influence, while also analyzing the strengths and weaknesses of both Chinese and Western approaches. The article highlights the importance of multilateral collaboration, environmental sustainability, local empowerment, and adaptive policies for future connectivity initiatives. By synthesizing lessons from both the BRI and Western models, the article proposes a balanced and sustainable framework for global development, offering insights into fostering a more interconnected, equitable, and resilient world.

Ensuring coherence between China’s “Belt and Road” initiative and Eurasian Economic Union Project

The article examines the transport development of the intracontinental spaces of Eurasia and their interrelations with the Belt and Road initiative and the activities of the EAEU in infrastructure construction. The emergence of the Initiative is due to several large-scale global economic processes, such as the shift of the center of world production to Asia, China’s leading role in the global economy, its desire to form a different, more equitable model of world economic relations, the growth of geopolitical, transport and economic dynamics of intra-continental events. The central element of the Initiative is China’s willingness to finance local infrastructure projects in which there is a common interest. The integration project is focused on the state sovereignty of the participating countries, the transformation of the EAEU into a dynamically developing region of Eurasia, and the economic attraction for third countries. The EAEU sees the creation of a modern communications infrastructure (the Eurasian transport framework) as the main prerequisite for achieving these objectives. One of the important results of the conjugation of the mega-project and the activities of the EAEU has been a multiple increase in trade and transport communications between China and the EAEU countries. The implemented, ongoing and recommended projects of international transport corridors ensure the permissive effect of intra-continentality and a wider use of the advantages of the Central Eurasia position for the development of the countries of Central Asia, Western China and the Siberian regions of Russia.

British economic strategy and regional institutions in Asia, 2016–2024

AbstractThis paper examines the British approach to Asia and its regional institutions from the Brexit vote in 2016 to the British general election of July 2024. The paper analyses official government statements and debates among political elites about Britain’s foreign policy posture in the region, from the broad ‘Indo-Pacific tilt’ and the Belt and Road Initiative to engagement with specific regional institutions such as ASEAN, BRI, AIIB, CPTPP and bilateral trade and investment agreements. It argues that approaches to regional institutions in and across Asia are driven by a combination of a dominant policy view that there is a need to engage with Asia which is becoming economically and strategically more important in a changing world, alongside a desire to decentre China in British strategic approaches to the region (partly in response to US-China strategic rivalry). However, given China’s centrality to regional economic growth in Asia, this approach creates contradictions which are rarely addressed in British policy debates. This paper will contribute not only to understanding British foreign policy, but also shed light on the evolving “new regionalism” and power dynamics across the Indo/Asia–Pacific, and how actors external to the region view and engage with the development of regional institutions in Asia.