Centering on the investment and financing infrastructure of China’s Belt and Road Initiative (BRI), this book puts forth the basic principles and general objectives of constructing a new investment and financing system of this magnitude. Beginning with a succinct analysis of the practical issues faced while developing the BRI’s investment and financing system, the author puts forward several approaches to optimizing and reestablishing the system for the further advancement of investment and financing among and beyond the Belt and Road countries. Topics include credit rules, management and control systems, investment protection, dispute settlement and risk assessment while establishing a new mechanism that helps resolve debt defaults, checks for potential corruption and bribery, fosters new growth, and enhances information transparency. The book will be a practical reference for researchers interested in the Belt and Road Initiative and world investment and finance, as well as policymakers, financial institutions and enterprises relevant to the BRI.

The Chinese economy has long been emphasizing globalization. Many factors including domestic currency policies, exchange policies and cross-border capital flow are becoming increasingly complex. Therefore, China is steadily pushing forward RMB internationalization to meet the market requirements emerging from global cooperation that has resulted from the Belt and Road Initiative.In the perspective of currency development, the internationalization of RMB is a general trend and a historical choice. As an important measure of China to fully open up and integrate with international community, the Belt and Road Initiative intends to effectively connect relevant countries, from different areas such as policies, roads, trade, capital and popular support. The financial cooperation based on domestic currencies is an important aspect of the Belt and Road Initiative, and an important means to meet the financial needs of various countries. Financing of Belt and Road Initiative-related projects is clearly helpful for China in adopting more active policies in capital account convertibility and RMB internationalization and to accelerate the process of RMB internationalization.

The IISS Strategic Dossier China’s Belt and Road Initiative provides a geopolitical and geo-economic assessment of President Xi Jinping’s flagship foreign-policy initiative. The dossier explores the Belt and Road Initiative’s role in China’s domestic industrial strategy and in the country’s growing influence around the world. It studies how Beijing’s ambitions, management and financing of the initiative have evolved since its launch in 2013. In addition, the volume reflects on the future of China’s initiative following the COVID-19 pandemic. The dossier is organised around a region by region assessment of what Beijing has sought to achieve in different countries and how the Belt and Road Initiative has played out over time. The volume examines recipient countries’ responses to the Belt and Road Initiative and how these have affected it. It also looks at responses from other global and regional powers to China’s economic activities around the world and offers thoughts on ways the West might better contend with Beijing’s geo-economic influence.

The Belt and Road Initiative (BRI), officially unveiled in 2013, is Chinese President Xi Jinping’s signature foreign and economic policy initiative to achieve improved connectivity, regional cooperation, and economic development on a trans-continental scale. This book reviews the evolving BRI vision and offers a benefit-risk assessment of the BRI’s economic and geopolitical implications from the perspective of Asian stakeholder countries, using both qualitative and quantitative research methods. Among the value added of the book is first an online perception survey of opinion leaders from Asian participating countries on various aspects of the initiative. To our best knowledge, the survey is the first of its kind. Second, the book presents the simulation results of a computable general equilibrium model of the world economy to estimate the potential macroeconomic impacts of the BRI as a whole and those of its constituent overland and maritime economic corridors. Third, the book makes ten key evidence-based policy recommendations on how to enhance the prospect of a successful and mutually beneficial BRI 2.0 to both China and stakeholder countries.

This book systematically discusses the contribution of the Belt and Road Initiative (BRI) to China’s transition from an emerging to an advanced economic and financial system after more than five years. From a historical perspective, it explains to what extent the BRI plan is effective enough to help China bounce back from its economic slowdown and the financial implications in a policy trilemma context. Further, it investigates both the rationale of the BRI and its pitfalls, focusing on the various options for financing the project based on the Mundell & Fleming model. The book also analyses the impact of the BRI as well as possible policy options to deal with China’s policy trilemma in a structurally more balanced “new normal” economic growth model. Lastly, it reviews the financial stability issues concerning liberalization policies in China.

This book argues that China’s Belt and Road Initiative should be seen more as a geopolitical project and less as a global economic project, with China aiming to bring about a new Chinese-led international order. It contends that China’s international approach has two personas – an aggressive one, focusing on a nineteenth century-style territorial empire, which is applied to Taiwan and the seas adjacent to China; and a new-style persona, based on relationship building with the political elites of countries in the Global South, relying on large scale infrastructure projects to help secure the elites in power, a process often leading to lower democratic participation and weaker governance structures. It also shows how this relationship building with elites leads to an acceptance of Chinese norms and to changes in states’ geopolitical preferences and foreign policies to align them with China’s geopolitical interests, with states thereby joining China’s emerging international order. Overall, the book emphasises that this new-style, non-territorial “empire” building based on relationships is a major new development in international relations, not fully recognised and accounted for by international relations experts and theorists.

This book focuses on the triangular relations between China, the United States and the European Union from the perspective of the Belt and Road Initiative (BRI) via the methodology of international political economy. China, the US and the EU are the three most important players in international politics and the global economy, and their relations are accordingly among the most influential in the global arena. This book will argue that the interactions between China, the US and the EU are highly dynamic given their close connections in trade, finance and many other economic fields. In the context of US–China competition, the decisions of the EU, which has sought to remain independent in its foreign policy for decades, crucially shape the landscape of international politics, and lucidly articulates how international relations look from China to scholars of geopolitics.

China’s Belt and Road Initiative (BRI) is completing a decade. There have been varied responses to the Initiative from countries and regions besides the emergence of alternative initiatives and narratives. This sets the stage for evaluating the robustness of the Initiative, its implementation as well as its implications from the perspective of individual countries and regions across the globe. This book begins by examining China’s domestic, economic, maritime and strategic interests as drivers for the Initiative. BRI has been analysed in country-specific, regional and continental contexts. It brings out the experiences and responses from South Asia, Eurasia, East Asia, Southeast Asia, the Arab world, Latin America, the Caribbean as well as from Europe and Africa. Further, BRI has been studied in the larger context of the US-China competition. The final section explores BRI in the context of the twin challenges of recent times, i.e., the pandemic and Russia-Ukraine conflict. The book concludes with an epilogue which outlines the broad trends related to BRI that have emerged from this study of ICWA.

This book not only discusses the uniqueness of the Belt and Road Initiative in the history of global integration, but also analyzes the reasons why the BRI conforms to European interests and maintains the stability of the world order. Jasna Plevnik believes that the BRI has a positive and farreaching influence on the economic cooperation and cultural exchange between Europe and China. If the European Union follows the United States’ policy to contain China, it would be a serious strategic mistake, as it would weaken its ability for economic and strategic transformation in the new landscape of international relations. She proposed that China and Europe, as the advanced and nongeopolitical powers, should continue to strengthen their partnership through financing, multilateral cooperation, and management of new projects to increase their prosperity. China and the EU have a moral duty to redefine global politics by acting in conformity with the principles of peace, mutual understanding, free trade, and cooperation.

China's President Xi Jinping launched the Belt and Road Initiative (BRI) in 2013. The BRI is promoted as a way for win-win cooperation that promotes common development and prosperity. Since the introduction of BRI, China organised the inaugural One Belt One Road Summit and the Second Belt and Road Forum to spur the implementation of the Initiative.President Xi emphasised that the Belt and Road projects should uphold the principles of shared benefits and joint contributions to realise the vision of a high-quality, open, green and clean BRI. Host countries can possibly gain from China's greenfield manufacturing investments to expand the BRI markets.Contributed by academics and business professionals from Asia, Europe and Africa, the chapters discuss the contemporary people, business, civil society and government developments related to the BRI and explore Health, Environment and Security (HES) challenges that confront the Initiative. This volume shows how a host country can leverage on China's investment without losing the nation's interest.