A discursive construction of the Belt and Road Initiative: From neo-liberal to inclusive globalization

Abstract

An international consensus is emerging around the Belt and Road Initiative (BRI) proposed by the Chinese government, with a growing number of countries seeing it as a way of jointly exploring new international economic governance mechanisms. Meanwhile, with the crisis of neo-liberalism, economic globalization has arrived at a crossroad. In particular, incessant voices speak out against globalization, making the quest for a new way of promoting global development a major challenge. In this context, more and more political elites and scholars consider that the BRI opens up a possible new globalization path, amongst which inclusive globalization warrants exploration. On the basis of a brief analysis of the course and mechanism of global economic expansion and the limitations of neo-liberal globalization, along with the putting into practice of the BRI, this paper outlines some of the core features of inclusive globalization, i.e., inclusive growth with effective and efficient government regulation; inclusive infrastructure development; inclusive development paths chosen nationally that suit national conditions; inclusive participation; and cultural inclusiveness. Although these features are not sufficient to characterize fully inclusive globalization, they do identify some directions for future research, and provide elements of a discursive construction of the BRI.

The Spatial Evolution of Geoeconomic Pattern among China and Neighboring Countries since the Reform and Opening-Up

“…The six economic corridors are the starting points for "the Belt and Road Initiative". "The Belt and Road Initiative", which is an improved mode of regional economic cooperation [29], caters to China's economic transformation and industrial upgrading, as well as infrastructure construction and economic growth of countries along the route. Win-win development is the target pursued consistently, and during this process, regional connectivity will be promoted and the cooperative relationship will be deepened.…”

China and Special Drawing Rights—Towards a Better International Monetary System

“…According to Zhang (2018), while the West tends to see the BRI as China's strategy to ultimately rule the world, Chinese and most developing nations see it as China's international cooperation strategy to foster a more balanced and equitable world system. Liu et al (2018) also see the BRI as promoting more inclusive globalization. Nonetheless, to support this narrative China needs to better explain its initiative as well as match its words with its deeds, so as to win more trust and support from the international community.…”

Multiple Dynamic Mechanisms of Globalization: Alternatives to Capitalism

“…With the implementation of the Belt and Road initiative (BRI) led by China, the process of globalization driven by inter-state cooperation (i.e., new globalization, also known as inclusive globalization [49] has become a new agenda in the process of globalization. The driving force of inter-state cooperation-driven globalization comes from the three major global problems of insufficient global growth momentum, lagging global governance system, and imbalanced global development [50] caused by the defects of neoliberal globalization, and the resulting wave of anti-globalization [51,52].…”

“…In order to solve the three major problems of global development and enable more regions to share the benefits of globalization [49], with the implementation of the BRI, China has embarked on a new path of globalization, namely, to provide the new driving force for the global economy through cooperation between countries.…”