IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v13y2021i6p3485-d521579.html
   My bibliography  Save this article

Borrowing Hong Kong’s International Standards: A Steppingstone for the Chinese “Belt and Road” Going Out?

Author

Listed:
  • Zhiwen Gong

    (School of Humanities and Social Science, University of Science and Technology Beijing, Beijing 100083, China)

  • Fung Chan

    (School of Social Sciences, University of Auckland, Auckland 1010, New Zealand)

  • Yan Wu

    (Business School, University of Shanghai for Science and Technology, Shanghai 200093, China)

Abstract

When the Chinese government proposed the Belt and Road Initiative (BRI)in 2015, Hong Kong was positioned as a “super-connector” responsible for bridging the mainland and global markets and was planned to integrate into the Guangdong–Hong Kong–Macau Greater Bay Area. The objective of this article is to analyze the Chinese designs to promote its BRI collaboration through Hong Kong to enhance foreign confidence and ensure that the related institutional transplantation is sustainable in other countries and that it is on par with international standards. However, the rise of neighboring cities and the changing Sino–American relationship in recent years has provided uncertainties for the future development of Hong Kong. Due to these factors, this article argues that Hong Kong may not effectively share the functions in the BRI planning designed by the Chinese authorities. Because Hong Kong’s role and how it influences the policy outcomes within the BRI framework have not been thoroughly studied, this article will supplement the current literature vacuum on this specific issue and its future development.

Suggested Citation

  • Zhiwen Gong & Fung Chan & Yan Wu, 2021. "Borrowing Hong Kong’s International Standards: A Steppingstone for the Chinese “Belt and Road” Going Out?," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
  • Handle: RePEc:gam:jsusta:v:13:y:2021:i:6:p:3485-:d:521579
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/13/6/3485/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2071-1050/13/6/3485/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dequech, David, 2009. "Institutions, social norms, and decision-theoretic norms," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 70-78, October.
    2. Jan P. Voon & Xinpeng Xu, 2020. "Impact of the Belt and Road Initiative on China’s soft power: preliminary evidence," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 27(1), pages 120-131, January.
    3. Deborah Bräutigam & Kevin P. Gallagher, 2014. "Bartering Globalization: China's Commodity-backed Finance in Africa and Latin America," Global Policy, London School of Economics and Political Science, vol. 5(3), pages 346-352, September.
    4. Hongyi Chen & Tianjiao Jiang & Chen Lin & Hui Zhao, 2019. "Quantifying Financing Needs in the Belt and Road Countries," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(14), pages 3178-3210, November.
    5. Robert J. Hanlon, 2017. "Thinking about the Asian Infrastructure Investment Bank: Can a China-Led Development Bank Improve Sustainability in Asia?," Asia and the Pacific Policy Studies 201739, Crawford School of Public Policy, The Australian National University.
    6. Tianyang Liu & Yao Song, 2020. "Chinese Paradiplomacy: A Theoretical Review," SAGE Open, , vol. 10(1), pages 21582440198, January.
    7. Hannes Thees, 2020. "Towards Local Sustainability of Mega Infrastructure: Reviewing Research on the New Silk Road," Sustainability, MDPI, vol. 12(24), pages 1-35, December.
    8. Rashid Menhas & Shahid Mahmood & Papel Tanchangya & Muhammad Nabeel Safdar & Safdar Hussain, 2019. "Sustainable Development under Belt and Road Initiative: A Case Study of China-Pakistan Economic Corridor’s Socio-Economic Impact on Pakistan," Sustainability, MDPI, vol. 11(21), pages 1-24, November.
    9. Fei Xu, 2018. "The Belt and Road," Springer Books, Springer, number 978-981-13-1105-5, October.
    10. Bräutigam, Deborah & Tang, Xiaoyang, 2014. "“Going Global in Groups”: Structural Transformation and China’s Special Economic Zones Overseas," World Development, Elsevier, vol. 63(C), pages 78-91.
    11. Fernando Ascensão & Lenore Fahrig & Anthony P. Clevenger & Richard T. Corlett & Jochen A. G. Jaeger & William F. Laurance & Henrique M. Pereira, 2018. "Environmental challenges for the Belt and Road Initiative," Nature Sustainability, Nature, vol. 1(5), pages 206-209, May.
    12. Robert J. Hanlon, 2017. "Thinking about the Asian Infrastructure Investment Bank: Can a China-Led Development Bank Improve Sustainability in Asia?," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 4(3), pages 541-554, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wang, Xueqin & Wong, Yiik Diew & Yuen, Kum Fai & Li, Kevin X., 2020. "Environmental governance of transportation infrastructure under Belt and Road Initiative: A unified framework," Transportation Research Part A: Policy and Practice, Elsevier, vol. 139(C), pages 189-199.
    2. Zahra Abdulhadi Shukra & Ying Zhou & Lingling Wang, 2021. "An Adaptable Conceptual Model for Construction Technology Transfer: The BRI in Africa, the Case of Ethiopia," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    3. Nechifor, Victor & Basheer, Mohammed & Calzadilla, Alvaro & Obuobie, Emmanuel & Harou, Julien J., 2022. "Financing national scale energy projects in developing countries – An economy-wide evaluation of Ghana's Bui Dam," Energy Economics, Elsevier, vol. 111(C).
    4. Aislu Taisarinova & Giuseppe Loprencipe & Madina Junussova, 2020. "The Evolution of the Kazakhstani Silk Road Section from a Transport into a Logistics Corridor and the Economic Sustainability of Regional Development in Central Asia," Sustainability, MDPI, vol. 12(15), pages 1-20, August.
    5. Mingchun Cao & Ilan Alon, 2020. "Intellectual Structure of the Belt and Road Initiative Research: A Scientometric Analysis and Suggestions for a Future Research Agenda," Sustainability, MDPI, vol. 12(17), pages 1-40, August.
    6. Liu, Shaoxuan & Oum, Tae Hoon, 2018. "Prospects for air policy liberalization in China as a Result of China-ASEAN Open Skies: Changing role of Chinese mega carriers in global scene and anticipated Low Cost Carrier competition," Transport Policy, Elsevier, vol. 72(C), pages 1-9.
    7. Fidrmuc, Jana P. & Jacob, Marcus, 2010. "Culture, agency costs, and dividends," Journal of Comparative Economics, Elsevier, vol. 38(3), pages 321-339, September.
    8. Kitano, Naohiro, 2016. "Estimating China’s Foreign Aid II: 2014 Update," Working Papers 131, JICA Research Institute.
    9. Kopczewska Katarzyna, 2019. "Can public intervention improve local public sector economic performance? The analysis of Special Economic Zones in Poland," Central European Economic Journal, Sciendo, vol. 6(53), pages 221-245, January.
    10. Sri Astutik & Jürgen Pretzsch & Jude Ndzifon Kimengsi, 2019. "Asian Medicinal Plants’ Production and Utilization Potentials: A Review," Sustainability, MDPI, vol. 11(19), pages 1-33, October.
    11. Xu, Jiajun & Ru, Xinshun & Song, Pengcheng, 2021. "Can a new model of infrastructure financing mitigate credit rationing in poorly governed countries?," Economic Modelling, Elsevier, vol. 95(C), pages 111-120.
    12. Xia, Ying & Chen, Muyang, 2023. "The Janus face of stateness: China's development-oriented equity investments in Africa," World Development, Elsevier, vol. 162(C).
    13. Sulman Shahzad & Muhammad Abbas Abbasi & Hassan Ali & Muhammad Iqbal & Rania Munir & Heybet Kilic, 2023. "Possibilities, Challenges, and Future Opportunities of Microgrids: A Review," Sustainability, MDPI, vol. 15(8), pages 1-28, April.
    14. Sierra, Jazmin & Hochstetler, Kathryn, 2017. "Transnational activist networks and rising powers: transparency and environmental concerns in the Brazilian National Development Bank," LSE Research Online Documents on Economics 79089, London School of Economics and Political Science, LSE Library.
    15. Craig A. Depken & Peter A. Groothuis & Mark C. Strazicich, 2020. "Evolution Of Community Deterrence: Evidence From The National Hockey League," Contemporary Economic Policy, Western Economic Association International, vol. 38(2), pages 289-303, April.
    16. Ahmed, Moiz Uddin & Hussain, Iqbal, 2022. "Prediction of Wheat Production Using Machine Learning Algorithms in northern areas of Pakistan," Telecommunications Policy, Elsevier, vol. 46(6).
    17. Anna Visvizi & Miltiadis D. Lytras, 2022. "Belt and Road Initiative in Times of ‘Synchronized Downturn’: Issues, Challenges, and Opportunities," Sustainability, MDPI, vol. 14(3), pages 1-3, January.
    18. Taiba Zahid & Fouzia Gillani & Usman Ghafoor & Muhammad Raheel Bhutta, 2022. "Synchromodal Transportation Analysis of the One-Belt-One-Road Initiative Based on a Bi-Objective Mathematical Model," Sustainability, MDPI, vol. 14(6), pages 1-14, March.
    19. Schclarek, Alfredo & Xu, Jiajun & Amuchastegui, Pedro, 2022. "Panda bond financing of the Belt and Road Initiative: An analysis of monetary mechanisms and financial risks," Research in International Business and Finance, Elsevier, vol. 61(C).
    20. Qing Qin & Churen Sun, 2023. "Empirical Research on the Impact of China’s Overseas Economic and Trade Cooperation Zones on the Development of Host Countries in the Global Value Chain," Sustainability, MDPI, vol. 15(6), pages 1-24, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:13:y:2021:i:6:p:3485-:d:521579. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.