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The Belt and Road Initiative and Globalization:The Perspective of Globalization-Constituting Theory

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  • FAYIN XU

    (IWE)

Abstract

- Because the Belt and Road Initiative was proposed by only one country—China, most of previous studies have adopted a state-centered economic perspective to understand it. However, this perspective is inadequate to grasp this project that is designed to involve actors other than nation-states in at least 60 countries. This paper tries to comprehend the Initiative from the globalization perspective. After proposing a globalization-constituting theory, this paper argues that the Belt and Road Initiative should be considered as part of the globalization-constituting process, because even though it is launched mainly by China, the Belt and Road Initiative has global relevance and involves multiple agents at multiple levels, and its contents are consistent with the structural tendencies of the globalization process. Furthermore, the Belt and Road Initiative implies a realistic approach to globalization, which would lead to a better globalization.

Suggested Citation

  • Fayin Xu, 2019. "The Belt and Road Initiative and Globalization:The Perspective of Globalization-Constituting Theory," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, issue 1, June.
    • Handle: RePEc:ntu:ntugeo:vol7-iss1-232
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    References listed on IDEAS

    as
    1. Cheng, Leonard K., 2016. "Three questions on China's “Belt and Road Initiative”," China Economic Review, Elsevier, vol. 40(C), pages 309-313.
    2. Feng Zhang, 2016. "China as a Global Force," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 3(1), pages 117-125, January.
    3. Feng Zhang, 2016. "China as a Global Force," Asia and the Pacific Policy Studies 201612, Crawford School of Public Policy, The Australian National University.
    4. Christian Ploberger, 2017. "One Belt, One Road – China’s new grand strategy," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 15(3), pages 289-305, July.
    5. Huang, Yiping, 2016. "Understanding China's Belt & Road Initiative: Motivation, framework and assessment," China Economic Review, Elsevier, vol. 40(C), pages 314-321.
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    More about this item

    Keywords

    globalization; Belt and Road Initiative; globalization theory;
    All these keywords.

    JEL classification:

    • F - International Economics
    • F19 - International Economics - - Trade - - - Other

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