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Following Sri Lanka, Pakistan is rapidly accumulating billions of dollars of Chinese debt under the Belt and Road Initiative. This paper argues that that initiative's disregard for the economic viability of projects and the domestic limitations of countries like Sri Lanka and Pakistan have both external and internal ramifications for the recipient countries.

Schon vor der Corona-Pandemie belasteten finanzielle und geopolitische Probleme die "Neue Seidenstraße": Chinas Gesamtinvestitionen gehen seit Jahren zurück, wichtige Bauprojekte sind unrentabel, die Partner in Ost- und Südosteuropa wenden sich ab, und umweltschädliche Vorhaben stoßen zunehmend auf Widerstand. Seit 2020 bieten wohlhabende Demokratien verstärkt Alternativen, und auch die Volksrepublik stundet Schulden. Xi Jinping forciert daher neben dem 'BRI Green Partnership' vor allem die "Digital Silk Road" und "China Standards 2035", also globale Technologie- und Normierungsprojekte. ; Even before the coronavirus pandemic, financial and geopolitical problems were weighing on the 'New Silk Road': China's overall investment has been declining for years, key construction projects are unprofitable, partners in Eastern and Southeastern Europe are turning away, and environmentally harmful projects are increasingly meeting resistance. Since 2020, affluent democracies reinforce alternatives and the People's Republic also defers debt. In addition to the "BRI Green Partnership", Xi Jinping is therefore pushing the "Digital Silk Road" and "China Standards 2035", i. e. global technology and standardisation projects.

Responses to the Belt and Road Initiative : a regional perspective / Jonathan Fulton -- Localizing China's global silk Roads through the "17+1" / Emilian Kavalski -- China's BRI in South Asia : unique characteristics and general framework / Jabin T. Jacob -- Central Asia in BR I: policy-taker or policy-shaper? / Li-Chen Sim and Farkhod Aminjonov -- China's maritime silk road : the Horn of Africa and Red Sea / David Styan -- The Gulf monarchies in the Belt and Road Initiative : domestic, regional, and international pressures / Jonathan Fulton -- Bumps in the maritime silk road : domestic politics and the BRI in ASEAN states / Daniel O'Neill.

This open access book provokes critical thinking regarding the most ambitious Chinese project since the founding of the People's Republic of China, The Belt and Road Initiative (BRI). The book presents extensive quality research and original insights in assessing the status of China's outbound investment and construction projects under the BRI umbrella. Referring to case studies and projects of selected countries from Southeast Asia, Central Asia, and the Middle East, the author sheds new light on the issues and problems associated with the BRI's implementation and discusses both the readjustments and prospects for the BRI. Finally, this book demarcates the limits and potential of the world's second largest economy in pushing for the BRI, which is challenged by enormous domestic tensions and external pressures. It also identifies and analyzes potential new collaboration areas between the Belt and Road countries and China under the BRI framework in the context of the post-COVID-19 era. It provides an outstanding reference for academics, students, policymakers, and the business community working in areas of international affairs and Asian economics and development, particularly those interested in Sino-relations and Chinese power dynamics in the global world order.

AbstractThis article studies the formation process of China's belt and road initiative (BRI) – the most important Chinese foreign policy initiative under Xi Jinping. It argues that the BRI was put forward as a broad policy idea that was subsequently developed with relatively concrete content. During this process, the shifting international landscapes have gradually driven the BRI from a periphery strategy into a global initiative. By examining the case of Jiangsu Province, this article also shows how Chinese local governments have actively deployed their preferred narratives to influence and (re‐)interpret the BRI guidelines of the central government in order to advance their own interests. As a result, this produces a variety of competing, ambiguous and contradictory policy narratives of the BRI within China, which undermines the Chinese central government's monopoly on the BRI narratives. This leaves the BRI as a very vague and broad policy slogan that is subject to change and open to interpretation. In this regard, the existing analyses – that consider the BRI as Beijing's masterplan to achieve its geopolitical goals – pay insufficient attention to the BRI's domestic contestation and overstate the BRI's geopolitical implications.

This article studies the formation process of China's belt and road initiative (BRI) – the most important Chinese foreign policy initiative under Xi Jinping. It argues that the BRI was put forward as a broad policy idea that was subsequently developed with relatively concrete content. During this process, the shifting international landscapes have gradually driven the BRI from a periphery strategy into a global initiative. By examining the case of Jiangsu Province, this article also shows how Chinese local governments have actively deployed their preferred narratives to influence and (re‐)interpret the BRI guidelines of the central government in order to advance their own interests. As a result, this produces a variety of competing, ambiguous and contradictory policy narratives of the BRI within China, which undermines the Chinese central government's monopoly on the BRI narratives. This leaves the BRI as a very vague and broad policy slogan that is subject to change and open to interpretation. In this regard, the existing analyses – that consider the BRI as Beijing's masterplan to achieve its geopolitical goals – pay insufficient attention to the BRI's domestic contestation and overstate the BRI's geopolitical implications.

Belt and Road Initiative (BRI) also recognized as One Belt and One Road (OBOR) is currently renowned external policy initiative of China for regional connectivity. It is a massive infrastructure and transportation project. The study attempts to understand this initiative in broader perspective in terms of big changes at regional and global level. This paper argues that BRI is not just a project of building roads and bridges, but it will simultaneously heighten strategic and economic capability of China. Furthermore, it argues that, China's quest to enhance regional connectivity will be purely based on economic activities. In the meantime, Beijing will use its fiscal leverage to influence the policies of aligned countries to line up with its interests. This paper addresses three main questions: What is the significance of BRI with emphasis on its main objectives? How does this initiative help advance China's interests? What are the expected challenges to BRI?

Chapter 1 China's Push for the BRI in a Changing World: Origins and Motivations -- Chapter 2 BRI as China's Platform to Push for Economic Globalisation -- Chapter 3 China-ASEAN Cooperation under the BRI -- Chapter 4 Vietnam's Mixed Reactions to China and the BRI -- Chapter 5 The China-Singapore Chongqing Connectivity Project: A Cornerstone for bilateral relations -- Chapter 6 Riding on the BRI Train: Issues relating to China's Strengthening Ties with Cambodia.

Even before the coronavirus pandemic, financial and geopolitical problems were weighing on the "New Silk Road": China's overall investment has been declining for years, key construction projects are unprofitable, partners in Eastern and Southeastern Europe are turning away, and environmentally harmful projects are increasingly meeting resistance. Since 2020, affluent democracies reinforce alternatives and the People's Republic also defers debt. In addition to the "BRI Green Partnership", Xi Jinping is therefore pushing the "Digital Silk Road" and "China Standards 2035", i. e. global technology and standardisation projects.

Part One What is the Belt and Road Initiative -- Part Two What can the Belt and Road Initiative Do -- Part Three The Belt and Road in History -- Part Four What did we Benefit from the Belt and Road in History -- Part Five How will Different Industries Participate in the Belt and Road Initiative -- Part Six Investment Risks and Risk Aversions in the Belt and Road -- Part Seven Overseas Voices and Countermeasures

"This book explores a wide range of topics related to the policies and implementation of the BRI. The topics include the associated risks and challenges, new opportunities for multilateral cooperation, and approaches to promoting the BRI among participating countries. The book analyzes how people and governments in Russia, Egypt, Pakistan, the US, Malaysia, Turkey, Singapore, India and 22 other countries respond to the BRI, and BRI's impact on the dynamics of national, regional and global development. The book's chapters are based on papers presented at the "International Symposium of the Belt and Road Initiative in the Global Perspective", co-organized by the National Institute for Global Strategy of the Chinese Academy of Social Sciences and Beijing Foreign Studies University in Beijing. A total of 39 experts from more than 30 countries have contributed to this book."--

The ASEAN Economic Community (AEC) was launched at the end of 2015. It is an ongoing project towards a single market and is envisioned to develop ASEAN into a competitive and global ASEAN. However, given the wide development gaps between member countries, combined with ASEAN's extremely weak institutional base, it is uncertain whether ASEAN will be able to realise its ambitious targets. As the largest trading partner of ASEAN, China vowed to further deepen China–ASEAN relations and render more support to the building of the ASEAN community through China's Belt and Road Initiative (BRI). For ASEAN, the important question is how China and its initiatives could assist ASEAN member states in achieving those development priorities. This article attempts to address these questions by analysing Chinese scholarly writings and different Southeast Asian views and concerns. It also explores China's evolving peripheral diplomacy with a focus on its foreign policy to Southeast Asia. (China/GIGA)

The grand "Belt and Road Initiative" (BRI), comprising various routes by land and by sea, is a globally oriented outreach strategy intended to connect China with the world. Essentially, the BRI is about global outreach, connecting the world with China as the core hub. The initiative is known in Chinese as "Yi Dai Yi Lu" ("One Belt, One Road") but in practice, it encompasses multiple routes along the BRI, connecting various specific countries and regions, transportation modes and industrial sectors. China has the financial resources, the technology, the manpower, and most importantly, the political will and strategic vision to support infrastructure development in developing countries. Nevertheless, the BRI is currently at a crossroads. The tremendous enthusiasm for the promise of increased infrastructure connectivity and trade promotion under this initiative has begun to subside. Indeed, the implementation of the BRI has faced various practical issues and serious challenges. (China/GIGA)

"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."--