Spatial Economics in the Era of One Belt One Road and Counter-Globalization

Lai, Tze Leung; Tang, Jian; Yin, Hao

doi:10.4236/me.2018.91004

Cited by 5 publications

(3 citation statements)

References 4 publications

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“…China possesses both the financial resources of more than US $3.5 trillion in foreign exchange reserves and a vast experience in infrastructural development. Therefore, BRI promises massive infrastructural development that provides the bases for economic and industrial prosperity in the region [55]. BRI-related projects involve 70% of the global population, 75% of its known energy reserves and territory, 25% of global trade, and 55% of global GDP [49].…”

Section: An Overview Of the Belt And Road Initiativementioning

confidence: 99%

China’s Belt and Road Initiative: A Global Model for an Evolving Approach to Sustainable Regional Development

et al. 2018

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China’s Belt and Road Initiative (BRI) is a cornucopia of international projects that offer mammoth opportunities for more economic cooperation and deeper regional integration primarily among emerging economies. BRI is providing new drivers of sustainable economic growth in China and of cross-border trade, along with the reimagined land and “Maritime Silk Road”. The initiative focuses on restoring global balance and on expanding universally beneficial and inclusive relationships. This article argues that the forces of globalization are so pivotal to Eurasia, where development opportunities can propel the region toward a more comprehensive socioeconomic integration, that governments in that region need to provide more support that ensures the continuing success of BRI. In essence, BRI is a critical tool for peaceful development that is resulting in massive investments in infrastructure, that is facilitating economic development, and that is promoting shared governance. This article provides theoretical perspectives on BRI as a beachhead for sustainable regional development. It also highlights BRI programs and projects that have emerged as an internal and external policy framework for an openly inclusive “win–win” cooperation model based on shared development and on communities of shared interests.

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Section: An Overview Of the Belt And Road Initiativementioning

confidence: 99%

China’s Belt and Road Initiative: A Global Model for an Evolving Approach to Sustainable Regional Development

et al. 2018

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“…With more than US$ 3.5 trillion in foreign-exchange reserves, China has rich experience in financial capital and infrastructure development. The "Belt and Road" initiative thus promises the development of large-scale infrastructure, laying the cornerstone for economic and industrial affluence in the Region (Lai, T. L., Tang, J., & Yin, H. 2018). Projects linked to the 'Belt and Road' initiative comprise 70 % of the world's population, 75% of known oil, reserves and territories, 25% of global trade, and 55% of global GDP (Khan, M. K. et al, 2018).…”

Section: Bri Overviewmentioning

confidence: 99%

China’s Opening-up Strategy in the Milieu of Belt and Road Initiative (BRI)

Gao¹,

Lin²,

Jingdong³

et al. 2021

JPL

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The Chinese economy is changing its development model from invest/export-led growth to consumption/growth driven by domestic demand. In the recent domestic-oriented growth phases of China's opening-up policy, what role is expected to play? Not only is this a way to acquire foreign exchange and technology, but it is also an economic powerhouse for China that strengthens its position in global governance. General Secretary Xi Jinping's proposed the "Belt and Road" initiative in 2013, which is considered an excellent strategy for China's new round of opening-up policy. This research paper aims to bring the BRI inside China's open-up policy and focuses on its increasingly important role in controlling major global economic regimes. The study also shows the importance of establishing systems of mutual aid/funding for the countries participating in BRI. The first section of the paper looks at China's reactions to major economic regimes. Section two reflects the design and the implementation of the opening-up strategy for China from the BRI perspective. Section three of the research addresses Chinese development aid/funding in the BRI and its relation to foreign regimes. The fourth part addresses the BRI's trade relationship with the participating countries, using the gravity model from a global commercial perspective. The study concluded that cross-border financial cooperation between government and business participants is vital for the development of a successful investment and funding system for the BRI. It reiterated the importance of using foreign and regional financial centers to develop a regional structure within the BRI's investment and financing system.

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“…In addition, theoretically, a few studies have investigated the overall impact of BRI on the economic development of all countries along the routes. Lai et al (2018) illustrated that BRI can build a cohesive spatial economic network integrating the multinational region on China's unique experience with its economic development and free trade zones. Silin et al (2018) found that the mutual benefit within the framework of BRI involves mainly international cooperation based on mutual benefits for all participants, the promotion of economic growth and welfare, and the development of modern infrastructure through joint investment.…”

Section: Introductionmentioning

confidence: 99%

Has the Belt and Road Initiative Brought New Opportunities to Countries Along the Routes to Participate in Global Value Chains?

2020

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Using the data of 40 host countries during 2010 to 2017, we investigate whether the Belt and Road Initiative (BRI) has brought new opportunities to countries along the routes to participate in global value chains (GVCs). We employ a difference-in-differences (DID) method with propensity score matching (PSM) to solve the self-selection bias problem. The results indicate that BRI has a significant positive effect on promoting the countries along the routes to participate in GVCs, and the effect is lagging and fluctuant. Specifically, we find that the promotion effects are particularly significant in the second year of the BRI’s implementation. The heterogeneity analysis of Belt and Road (BR) countries shows that there remains a significant positive effect on developing BR countries as before, while the opposite is true for developed BR countries.

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Spatial Economics in the Era of One Belt One Road and Counter-Globalization

Abstract: After an overview of spatial economics, we review China's recent One Belt One Road (OBOR) Initiative, and the contrary counter-globalization forces in the contemporaneous geopolitical and social landscapes. We then discuss their impact on and new paradigms in spatial economics.

Cited by 5 publications

References 4 publications

China’s Belt and Road Initiative: A Global Model for an Evolving Approach to Sustainable Regional Development

China’s Belt and Road Initiative: A Global Model for an Evolving Approach to Sustainable Regional Development

China’s Opening-up Strategy in the Milieu of Belt and Road Initiative (BRI)

Has the Belt and Road Initiative Brought New Opportunities to Countries Along the Routes to Participate in Global Value Chains?

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