Assets of origin? Chinese multinational enterprises amidst the Belt and Road Initiative

Abstract

This article reviews the current literature on the implications of the Belt and Road (B&R) Initiative for Chinese multinational enterprises (CMNEs) and calls for further empirical investigations of the motivations, processes, and consequences of the expansion of CMNEs into B&R countries. We posit that the rapid expansion of CMNEs in these countries indicates assets, rather than liabilities, for the county of origin. Empirical studies in this special issue provide new insights into what is "Chinese" about Chinese foreign direct investment in B&R countries and how the "assets of origin" may play a role in CMNEs' expansion in B&R countries.

A conceptual reappraisal of risks in the implementation of BRI after COVID‐19: Best strategies to learn for CMNEs in BRI projects

“…Cluster 1 comprises 11 leading researchers publishing primarily on environmental risks associated with BRI infrastructural developments and strategic environmental assessment (Huang et al, 2017; Tracy et al, 2017; Du & Zhang, 2018; Rauf et al, 2018; Yuan et al, 2018; Zhang et al, 2019; Ascensão et al, 2020; Wang et al, 2020). For example, in cluster 2, such as Blanchard, Challahan, and Ferdinand published mainly on the area of Geopolitical landscape and grand strategic initiative and political risks in BRI Implementation, both visually close to Rolland, Summers, Wang, and Yu.…”

“…Seeing the uncertainty of world economic order after this pandemic, it is still too early to assess the full impact of BRI projects. Assessment of projects’ success and failure is not possible in the short term because it will be creating more developmental opportunities for the countries by converting them into vibrant economies in the coming years (Huang, 2016; Wang et al, 2020). Integration of resilience and sustainability efforts into energy infrastructure planning in BRI can make the projects viable and sustainable (Alkon et al, 2019; Chen et al, 2019).…”

“…Hence, Li et al (2019) proposed that Chinese companies internationalize and invest in the infrastructure of countries with cultural similarities. Moreover, the participating nations with shorter geographical distances and having economic, cultural, and institutional similarities with China are prospering more after entering into BRI and registering sound economic growth (Wang et al, 2020; Yii et al, 2018). Other studies also reviewed the host country's institutional factors, for instance, Liu and Lim (2019) checked the effect of the exchange rate, market potential & openness, and existing infrastructure facilities of host countries while Quer and Andreu (2021) focused on the effect of host market potential, natural resource endowment, geographic distance, administrative distance and cultural distance on the OFDI by China under BRI.…”

Location decisions of Chinese firms in the global tourism industry: The role of prior international experience and diplomatic relations

“…Empirical evidence suggests that BRI policy facilitates China's OFDI to host countries characterized by institutional fragility (Sutherland, Anderson, Bailey, & Alon, 2020). As a result, the BRI can be viewed as a new context between country and global levels, namely, as a second home-context where Chinese MNEs can exploit their prior international experience together with the political support derived from the BRI (Wang, Yan, Yang, Ciabuschi, & Wei, 2020). As for the tourism industry, it involves representative projects that may contribute to a deeper cooperation between firms and governments along the BRI (Daye et al, 2020).…”

An Examination of the Rational Model in Business Education in the Greater Bay Area (Guangdong, Hong Kong, and Macau) for Curriculum Revision and Development Aimed at Improving Graduates’ Employability Potential

“…It is with that deficiency gap that the recommendations for further research can be made. Institutions throughout China would benefit greatly from this type of study since the drive to developing the nation's economy, such as the Belt and Road Initiative initiated in 2013 for enhancing infrastructure development and global investments (Guo, & Jin, 2019;Wang, Yan, Yang, Ciabuschi, & Wei, 2020), motivates future Chinese business graduates to become more proficient at globalized business careers (Chen et al, 2016;Hu, & Cairns, 2017;Jiang, Mok, & Shen, 2020). Yet, without a profound knowledge of the separate global locations and corporate types that future business graduates would want to target for employment, the tertiary institution is not prepared to identify which components of decisionmaking models or theories would effectively produce the type of business curriculum said future graduates would benefit from in their overall employability.…”