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China's Economic Statecraft: The Role of the Belt and Road Initiative

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  • Luiza Kostecka-Tomaszewska
  • Monika Krukowska

Abstract

Purpose: The research aims to examine China's economic activities around the world from the broad perspective of the country's economic security. The authors begin with explaining the concept of economic statecraft and then deal with the analysis of the Chinese overseas economic expansion. Design/Methodology/Approach: The main tools used to achieve the objectives mentioned above include a literature analysis, logical reasoning and statistical research. Findings: The last decades have revealed a new pattern in global economic cooperation. The Belt and Road Initiative turned out to be a successful instrument supporting China's economic growth and deepening international economic cooperation and interdependence. The BRI project allows China not only to secure access to supplies and markets but also strengthen its soft power and gives the possibility to build a powerful network of interconnected countries, independent from the Western powers, willingly cooperating with China in every field. Practical Implications: The research results are helpful to realise the extend and importance of the Belt and Road Initiative in China's economic statecraft and indicate potential fields for future international cooperation under the BRI. As close economic cooperation under the BRI can have significant consequences for China and all countries covered by this project, all partners have to be aware of the complexity of their involvement in this initiative and the pros and cons of such interdependence. Originality/Value: The Belt and Road Initiative is a novel form of broad international cooperation. Thus it deserves special attention and research. The research concerns an economic dimension of the Belt and Road Initiative and provides a comprehensive analysis of China's worldwide economic expansion.

Suggested Citation

  • Luiza Kostecka-Tomaszewska & Monika Krukowska, 2021. "China's Economic Statecraft: The Role of the Belt and Road Initiative," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 1019-1036.
  • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:2:p:1019-1036
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    References listed on IDEAS

    as
    1. Luiza Kostecka-Tomaszewska & Monika Krukowska, 2020. "Europe between China and the United States: Geoeconomic Implications of the Belt and Road Initiative," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 286-291.
    2. L. Kostecka-Tomaszewska & K. Czerewacz-Filipowicz, 2019. "Poland – A Gate to the EU or a Bottleneck in the Belt and Road Initiative," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 472-492.
    3. Jie Yu, 2018. "The belt and road initiative: domestic interests, bureaucratic politics and the EU-China relations," Asia Europe Journal, Springer, vol. 16(3), pages 223-236, September.
    4. Gary Gereffi, 2014. "Global value chains in a post-Washington Consensus world," Review of International Political Economy, Taylor & Francis Journals, vol. 21(1), pages 9-37, February.
    5. Gore, Charles, 2000. "The Rise and Fall of the Washington Consensus as a Paradigm for Developing Countries," World Development, Elsevier, vol. 28(5), pages 789-804, May.
    6. Frederick Mayer & William Milberg, 2013. "Aid for Trade in a world of global value chains: chain power, the distribution of rents and implications for the form of aid," Global Development Institute Working Paper Series ctg-2013-34, GDI, The University of Manchester.
    7. Andreas Georg Scherer & Guido Palazzo, 2011. "The New Political Role of Business in a Globalized World: A Review of a New Perspective on CSR and its Implications for the Firm, Governance, and Democracy," Journal of Management Studies, Wiley Blackwell, vol. 48(4), pages 899-931, June.
    8. Gowa, Joanne & Mansfield, Edward D., 1993. "Power Politics and International Trade," American Political Science Review, Cambridge University Press, vol. 87(2), pages 408-420, June.
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    More about this item

    Keywords

    China; economic statecraft; Belt and Road Initiative; trade; foreign direct investment; economic security.;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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