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Introduction — Southeast Asia And The Belt And Road Initiative: The Political Economy Of Regionalism, Trade, And Infrastructure

Author

Listed:
  • HONG LIU

    (School of Social Sciences, Nanyang Technological University, Singapore)

  • KONG YAM TAN

    (School of Social Sciences, Nanyang Technological University, Singapore)

  • GUANIE LIM

    (Nanyang Centre for Public Administration, Nanyang Technological University, Singapore)

Abstract

Since its launch in late 2013, the Belt and Road Initiative (BRI) has become a significant factor in shaping China’s economic and diplomatic relations with the world. China’s increasing clout presents opportunities as well as challenges, especially for the developing economies of the Association of Southeast Asian Nations (ASEAN) which constitute major sites for investment and trade alongside the BRI routes. This special issue examines whether and to what extent China’s economic ascendancy has impacted the proposed ASEAN Economic Community and the respective nations in the region. It deals with this question by grounding the analysis along three themes — institutions at a regional level, industry/sector, and particular ASEAN countries’ economic relationship with China. A total of 12 articles are presented to illuminate the state of affairs at the regional level and in specific ASEAN economies. They point to the importance of managing trade and investment flows stemming from China’s increasingly sophisticated national firms. This in turn hinges on forging ‘rules of the game’ at both the multilateral and bilateral levels, which potentially leads to mutually beneficial industrialization and long-term wealth creation. In addition to summarizing key findings of the articles in the special issue, this introductory essay examines some of the key themes confronting ASEAN in its engagement with the BRI such as institutions, global supply chains, and economic strategies. It concludes with a brief discussion on the impact of the COVID-19 pandemic on the BRI in Southeast Asia, and on ways to enhance regional integration.

Suggested Citation

  • Hong Liu & Kong Yam Tan & Guanie Lim, 2021. "Introduction — Southeast Asia And The Belt And Road Initiative: The Political Economy Of Regionalism, Trade, And Infrastructure," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 66(01), pages 1-20, March.
    • Handle: RePEc:wsi:serxxx:v:66:y:2021:i:01:n:s021759082102001x
    DOI: 10.1142/S021759082102001X
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    Citations

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    Cited by:

    1. Zhu, Siying & Cai, Yutong & Wang, Mengtong & Wang, Hua & Meng, Qiang, 2023. "How will China–Singapore International Land–Sea Trade Corridor affect route choice behaviour? A discrete choice model," Transport Policy, Elsevier, vol. 144(C), pages 11-22.
    2. Chengwei Xu & Guanie Lim, 2024. "Global Britain, Belt and Road Initiative, and New Southbound Policy: Which One Matters to Southeast Asia?," GRIPS Discussion Papers 24-05, National Graduate Institute for Policy Studies.
    3. Tingsong Wang & Jingyi Xu & Yong Jin & Shuaian Wang, 2024. "Assessing the Belt and Road Initiative’s Impact: A Multi-Regression Model Based on Economic Interaction," Sustainability, MDPI, vol. 16(11), pages 1-26, May.
    4. Wang, Hui & Si, Ieongcheng & Chen, Zhihua, 2024. "Does the Belt and Road Initiative promote China and the countries along the route to reconstruct the global value chain? Evidence from value-added trade," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 63-83.
    5. Ganesh Dash & Syed Akmal & Prashant Mehta & Debarun Chakraborty, 2022. "COVID-19 and E-Learning Adoption in Higher Education: A Multi-Group Analysis and Recommendation," Sustainability, MDPI, vol. 14(14), pages 1-20, July.

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