IDEAS home Printed from https://ideas.repec.org/a/pal/palcom/v4y2018i1d10.1057_s41599-018-0077-9.html
   My bibliography  Save this article

A comparative study of the Belt and Road Initiative and the Marshall plan

Author

Listed:
  • Simon Shen

    (The Chinese University of Hong Kong)

  • Wilson Chan

    (The Chinese University of Hong Kong)

Abstract

Since the introduction of the Belt and Road Initiative (BRI) in 2013, both the mainstream media and professional analysts began to name the Initiative “China’s Marshall Plan”. While the rhetoric may simply be an eye-catching term constructed in journalist and consultancy circles, this paper examines the background and purposes behind these two grand projects in order to shed light on the similarities and the differences of their effects on the world order. By comparing the projects under five different aspects—boosting exports, exporting currency, countering a rival, fostering strategic divisions, and siphoning away diplomatic support—this paper argues that while the two projects may have similarities and aim to respond to the malfunctioning world order through macro political-economic investments and developmental aid, their outcomes (given the relative differences of the global position of rivalries—USSR in Marshall Plan; US in BRI) and the changing economic structures, could be very different. As a result, this paper concludes that it may be too early to suggest that the BRI could bring similar outcomes as the Marshall Plan, especially in competing for the global leadership in the 21st century.

Suggested Citation

  • Simon Shen & Wilson Chan, 2018. "A comparative study of the Belt and Road Initiative and the Marshall plan," Palgrave Communications, Palgrave Macmillan, vol. 4(1), pages 1-11, December.
    • Handle: RePEc:pal:palcom:v:4:y:2018:i:1:d:10.1057_s41599-018-0077-9
    DOI: 10.1057/s41599-018-0077-9
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41599-018-0077-9
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/s41599-018-0077-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Atkinson, Anthony B., 2000. "Increased Income Inequality in OECD Countries and the Redistributive Impact of the Government Budget," WIDER Working Papers 295534, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    2. Atif Ansar & Bent Flyvbjerg & Alexander Budzier & Daniel Lunn, 2016. "Does infrastructure investment lead to economic growth or economic fragility? Evidence from China," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 32(3), pages 360-390.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Krishna Chaitanya Vadlamannati & Yuanxin Li & Samuel Brazys & Alexander Dukalskis, 2019. "Building Bridges or Breaking Bonds? The Belt and Road Initiative and Foreign Aid Competition," Working Papers 201906, Geary Institute, University College Dublin.
    2. Ho-fung Hung, 2018. "The tapestry of Chinese capital in the Global South," Palgrave Communications, Palgrave Macmillan, vol. 4(1), pages 1-6, December.
    3. Dongmei Li & Ung T’chiang Chow, 2023. "Discursive strategies in the branding of Fortune Global 500 Chinese manufacturing companies," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-12, December.
    4. Jiatao Li & Ari Van Assche & Xiaolan Fu & Lee Li & Gongming Qian, 2022. "The Belt and Road Initiative and international business policy: A kaleidoscopic perspective," Journal of International Business Policy, Palgrave Macmillan, vol. 5(2), pages 135-151, June.
    5. Schulhof, Vera & van Vuuren, Detlef & Kirchherr, Julian, 2022. "The Belt and Road Initiative (BRI): What Will it Look Like in the Future?," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    6. Panthamit, Nisit & Chaiboonsri, Chukiat, 2020. "China’s Outward Foreign Direct Investment in the Greater Mekong Subregion," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 35(1), pages 129-151.
    7. Liguo Zhang & Cuiting Jiang & Xiang Cai & Jun Wu, 2023. "Dynamic linkages between China’s OFDI, transport, and green economic growth: Empirical evidence from the B&R countries," Energy & Environment, , vol. 34(7), pages 2642-2667, November.
    8. Galán Enrique Martínez & Leandro Francisco José, 2019. "The Belt and Road Initiative: The Cornerstone of the New-Fangled Financial Institutionalism Led by China," TalTech Journal of European Studies, Sciendo, vol. 9(2), pages 153-182, September.
    9. Jiatao Li & Ari Van Assche & Lee Li & Gongming Qian, 2022. "Foreign direct investment along the Belt and Road: A political economy perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(5), pages 902-919, July.
    10. Bruno Jetin, 2021. "ASEAN and the European Union face the challenge of the New Silk Roads: division or coherence? [L'ASEAN et l'Union Européenne face au défi des nouvelles routes de la soie: division ou cohérence ?]," Post-Print halshs-03321124, HAL.
    11. Meihui Zhang & Chi Zhang & Fenghua Li & Ziyu Liu, 2022. "Green Finance as an Institutional Mechanism to Direct the Belt and Road Initiative towards Sustainability: The Case of China," Sustainability, MDPI, vol. 14(10), pages 1-31, May.
    12. Qinchang Gui & Chengliang Liu & DeBin Du, 2019. "The Structure and Dynamic of Scientific Collaboration Network among Countries along the Belt and Road," Sustainability, MDPI, vol. 11(19), pages 1-17, September.
    13. Wei Yang & Feihuang Xue & Jinfeng Shi & Yanmin Shao & Di Wang, 2021. "Factors Affecting the Trade Dependence Relationship of Asian Countries with China: Implications for China’s Belt and Road Initiative," Sustainability, MDPI, vol. 13(19), pages 1-23, September.
    14. Gregory T. Chin & Kevin P. Gallagher, 2019. "Coordinated Credit Spaces: The Globalization of Chinese Development Finance," Development and Change, International Institute of Social Studies, vol. 50(1), pages 245-274, January.

    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. Chuantao Cui & Leona Shao-Zhi Li, 2019. "High-speed rail and inventory reduction: firm-level evidence from China," Applied Economics, Taylor & Francis Journals, vol. 51(25), pages 2715-2730, May.
    2. Tabi Atemnkeng Johannes & Tafah Akwi & Peter Etoh Anzah, 2006. "The Distributive Impact of Fiscal Policy in Cameroon: Tax and Benefit Incidence," Working Papers PMMA 2006-16, PEP-PMMA.
    3. Yang Yang, 2018. "Transport Infrastructure, City Productivity Growth and Sectoral Reallocation: Evidence from China," IMF Working Papers 2018/276, International Monetary Fund.
    4. Jimmy, Charles & Falianty, Telisa Aulia, 2021. "Managing leverage of infrastructure projects: Aggregate and sectoral risk effect," Journal of Asian Economics, Elsevier, vol. 73(C).
    5. Enrico Fabrizi & Maria Rosaria Ferrante & Silvia Pacei, 2014. "A Micro-Econometric Analysis of the Antipoverty Effect of Social Cash Transfers in Italy," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(2), pages 323-348, June.
    6. Weiming Li & Zhaoyang Cai & Shixiong Cao, 2021. "What has caused regional income inequality in China? Effects of 10 socioeconomic factors on per capita income," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(9), pages 13403-13417, September.
    7. Bruno Bises & Francesco Bloise & Antonio ScialÃ, 2021. "Functional income distribution, inequality and the effectiveness of fiscal redistribution: evidence from OECD countries," Public Finance Research Papers 49, Istituto di Economia e Finanza, DSGE, Sapienza University of Rome.
    8. Olalekan Charles Okunlola & Imran Usman Sani & Olumide Abiodun Ayetigbo & Olajide O. Oyadeyi, 2024. "Effect of government expenditure on real economic growth in ECOWAS: assessing the moderating role of corruption and conflict," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    9. Välilä, Timo, 2020. "Infrastructure and growth: A survey of macro-econometric research," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 39-49.
    10. Jorge Martinez-Vazquez, 2001. "The Impact of Budgets on the Poor: Tax and Benefit," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0110, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    11. Dwi Wulandari & Bagus Shandy Narmaditya & Putra Hilmi Prayitno & Suryati Ishak, 2019. "Infrastructure Enhancement and Households¡¯ Economic Activities: Lesson From Indonesia," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(3), pages 315-319, December.
    12. Yidan Liang, 2023. "The effect of capital and labour distortion on innovation," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 1709-1737, June.
    13. Lodge, David & Soudan, Michel, 2019. "Credit, financial conditions and the business cycle in China," Working Paper Series 2244, European Central Bank.
    14. Xiongbin Lin & Ian MacLachlan & Ting Ren & Feiyang Sun, 2019. "Quantifying economic effects of transportation investment considering spatiotemporal heterogeneity in China: a spatial panel data model perspective," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 63(3), pages 437-459, December.
    15. Michael Beckley, 2020. "China's Economy Is Not Overtaking America's," Journal of Applied Corporate Finance, Morgan Stanley, vol. 32(2), pages 10-23, June.
    16. Turró, Mateu & Penyalver, Domingo, 2019. "Hunting white elephants on the road. A practical procedure to detect harmful projects of transport infrastructure," Research in Transportation Economics, Elsevier, vol. 75(C), pages 3-20.
    17. Shanshan Xiang & Liping Shan & Wuzhou Li & Lingyan Huang, 2023. "A Comparative Analysis of the Interaction between Urban-Rural Construction Land Transition and Population Flow: Dominant and Recessive Perspectives," Land, MDPI, vol. 12(10), pages 1-21, September.
    18. Chao Bi & Minna Jia & Jingjing Zeng, 2019. "Nonlinear Effect of Public Infrastructure on Energy Intensity in China: A Panel Smooth Transition Regression Approach," Sustainability, MDPI, vol. 11(3), pages 1-21, January.
    19. Godday Uwawunkonye Ebuh & Ifeoma Betty Ezike & Tersoo Shimonkabir Shitile & Ebow Suleiman Smith & Timipre Mary Haruna, 2019. "The Infrastructure–Growth Nexus in Nigeria: A Reassessment," Journal of Infrastructure Development, India Development Foundation, vol. 11(1-2), pages 41-58, June.
    20. Iris Claus & Jorge Martinez-Vazquez & VIoleta Vulovic, 2012. "Government Fiscal Policies and Redistribution in Asian Countries," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1213, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.

    More about this item

    Statistics

    Access and download statistics

    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:pal:palcom:v:4:y:2018:i:1:d:10.1057_s41599-018-0077-9. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: https://www.nature.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.