The international community views the Belt and Road through a zero-sum lens. To succeed, Beijing should focus on its domestic aspirations, international responsibilities, and nonmonetary investments.
The Forum on China-Africa Cooperation (FOCAC) was established far earlier than the BRI, and it has become a sophisticated framework for China’s partnerships with African countries. Thus, FOCAC can be a mini-version of multilateral cooperation that aids the implementation of BRI projects.
While the international community focuses its attention on trade, issues related to global production networks and flows of capital are essential to the discussion, which means monetary, investment, and fiscal policy must also be considered.
China has often been accused of practicing “debt-trap diplomacy”—miring supposed partners, particularly developing countries, in unsustainable debt-based relationships. But this is a misreading of the issue, and nowhere is this more apparent than in China’s dealings with Venezuela.
China’s “Made in China 2025” policy plays a central role in the ongoing U.S.-China trade tensions. Paul Haenle sat down with Paul Triolo to discuss how the initiative impacts the U.S. and global economies.
China and Latin America must confront the legacy of past deals gone wrong and attempt to move beyond commodity-based trade, investment and financing ties to forge more infrastructure cooperation.
Concerns about China’s mercantilist trade and investment policies have been at the forefront of growing frictions between China, the EU and the United States, but the Belt and Road Initiative has also highlighted worries about the lending of billions of dollars for infrastructure projects by its “policy banks”.
Since its announcement in 2013, the Belt and Road Initiative has grown from an idea centered on connectivity and infrastructure development into a global strategy bolstering China’s influence and economic diplomacy.
The rise of populism in Europe and United States has had a pronounced impact on domestic politics and foreign policy, as seen in Brexit and the election of Donald Trump.
Since its unveiling in 2013, the Belt and Road Initiative (BRI) has developed into a sweeping global project with profound implications for the international financial system, China’s own growth model, and governance in China and in countries along the Belt.