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A New Multilateralism? A Case Study of the Belt and Road Initiative

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Jingyuan Zhou, A New Multilateralism? A Case Study of the Belt and Road Initiative, The Chinese Journal of Comparative Law , Volume 8, Issue 2, September 2020, Pages 384–413, https://doi.org/10.1093/cjcl/cxaa022

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The first five years (the first stage) of the Belt and Road Initiative (BRI) have drawn international attention and provoked scepticism and debate. This article explores questions about the nature of the BRI and its impact on multilateralism, which is increasingly fragile and under attack. After summarizing past practices employed in BRI investments, it analyses the characteristics of the BRI and assesses the results and implications. This article studies in depth one of the two primary BRI economic activities—special economic zones. The article introduces and compares the Asian Infrastructure Investment Bank and Chinese domestic banks in their respective financing practices and compares state-owned enterprises and privately owned enterprises in BRI practices. The article observes three characteristics from past BRI practices and analyzes their respective implications on the transformation of international trade governance. The first characteristic is the unconventional ‘infrastructure development first, institution next’ approach. The second is the plurilateral- and multilateral-focused method in international rule-setting processes. The third characteristic is innovation in the dispute settlement mechanism. Through a cautious examination, the article argues that experiences gained from BRI inform China’s international rule-making efforts and further its domestic trade liberalization reform agenda, which will likely contribute to the convergence of rule-making in international trade.

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Ten Years of China’s Belt and Road Initiative: A Bibliometric Review

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  • Published: 22 November 2023

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  • Shaleen Khanal   ORCID: orcid.org/0000-0002-8097-2461 1 &
  • Hongzhou Zhang   ORCID: orcid.org/0000-0002-2995-4217 2  

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The Belt and Road Initiative (BRI) is poised to profoundly reshape the regional geographical landscape. While existing communication studies on BRI have focused on the official and media narratives to frame the initiative, the overall orientation of the topic in academic circles is not well understood. By conducting a bibliometric literature review, this paper addresses this gap by answering the research question: How is the BRI reflected in the academic literature? In the review, we divide all academic studies on BRI into four cohorts (studies from scholars based in China, in Quad countries, in the rest of the world, and cross-collaborating scholars) and use structural topic model to understand the themes and trends on BRI scholarship from scholars from these regions. Our results show that scholars in different cohorts understand BRI differently, specifically, with China-based scholars projecting ideas of development, growth and sustainability, while Quad-based scholars mostly focus on the geopolitical impact, security implications and debt sustainability of BRI. The findings also show a divergence between popular narratives on BRI and academic research on the topic.

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Data Availability

The data used in this paper is publicly available in the Scopus database.

These included words identifying publishers, research specific terms (such as paper, journal, findings, and methodology), journal specific terms (such as special issue or editorial), and stop words (such as will, thus, and still) not identified by the dictionary of stop words.

Two minor caveats need to be highlighted here. First, it should be noted that over 50% of the BRI papers either receive no funding or fail to disclose their funding information. Second, the provided funding information of some articles seems to be incomplete or inconsistent. Nevertheless, the results provide an indication of the clear role of Chinese governments and universities in funding BRI research.

It should be noted that the stm package does not produce topic labels. The topics have been labeled based on authors’ own interpretation of the highly associated words of the respective topics.

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Security and Economy on the Belt and Road: Three Country Case Studies

 sipriinsights1712_cover

The Belt and Road Initiative (BRI) is the result of a convergence of multiple Chinese domestic drivers and external developments. It holds significant potential to contribute to greater connectivity and stability in participating states, yet there is a need to include a wider spectrum of local and international stakeholders in order to address concerns and mitigate backlashes.

As shown in this SIPRI Insights, projects on the scale of those implemented within the BRI inevitably become part of existing local and cross-border security dynamics. They may also expose, and sometimes exacerbate, local institutional weaknesses. Examples of these issues are found in the three countries studied here: Belarus, Myanmar and Uzbekistan. 

China is taking a more active role in security cooperation, driven by its increased stake in the success of the BRI. Its actions show the evolving nature of its non-interference policy. To date, however, Chinese engagement within the BRI does not display a consistent way of addressing the complex security issues.

The project was carried out in collaboration with the International Council of Swedish Industry (Näringslivets Internationella Råd, NIR), and it was supported by the FBA, Folke Bernadotte Academy, through The Peace Million. The grant finances activities that focus on disarmament, security policy, peace and development, conflict prevention and management.

I. Introduction

II. What is the Belt and Road Initiative?

III. Why has China introduced the Belt and Road Initiative?

IV. Notable security implications

V. Three country case studies

VI. Conclusions

ABOUT THE AUTHOR(S)/EDITORS

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China’s Belt and Road Initiative turns 10. Here’s what to know

A visitor attends the "Belt and Road" summit in Hong Kong, China September 14, 2023. REUTERS/Tyrone Siu

Total Belt and Road Initiative (BRI) investments have already surpassed $1 trillion. Image:  REUTERS/Tyrone Siu

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a case study of belt and road initiative

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Stay up to date:.

  • China officially announced the Belt and Road Initiative (BRI) in 2013.
  • The massive infrastructure project aims to connect multiple continents across land and sea.
  • So far, over 200 BRI cooperation agreements have been signed with more than 150 countries and 30 international organizations.

This fall marks ten years since Chinese President Xi Jinping announced the Belt and Road Initiative, the vast infrastructure project that China devised to boost trade and connectivity across Asia, Europe and Africa.

Over the years, the Belt and Road Initiative (BRI)—also known as the One Belt and One Road Initiative or the New Silk Road—has included numerous physical development and financial investment projects ranging from the construction of railways to satellite networks. The endeavour remains one of the largest infrastructure plans ever initiated by a single country.

“Belt and Road international cooperation has gotten off the ground, grown rapidly and produced fruitful outcomes,” Xi said in October during a ceremony marking the BRI’s tenth anniversary . “Covering the land, the ocean, the sky and the internet, this network has boosted the flow of goods, capital, technologies and human resources among countries involved.”

Signage is seen outside the China National Convention Center during the Third Belt and Road Forum in Beijing, China October 17, 2023. REUTERS/Edgar Su

President Xi unveiled the BRI in a series of speeches made in Kazakhstan and Indonesia in September 2013. The initiative is rooted in China’s long history of facilitating trade and commerce across the ancient Silk Road routes that connected Asia, the Middle East and Europe.

The BRI was established with two primary components : the Silk Road Economic Belt and the 21st Century Maritime Silk Road. The Economic Belt part of the strategy aims to build and expand land routes for people and commerce across Europe, the Middle East, Central Asia and Asia. Meanwhile, the Maritime Road component consists of plans for expanded sea routes across East Asia, South Asia, the Middle East and Africa.

The BRI is based on five priorities : policy coordination, facilities connectivity, unimpeded trade, financial integration and people-to-people bond. In 2017, the Communist Party of China officially incorporated the advancement of the BRI into its constitution.

‘A global network of connectivity’

BRI projects and investments have been implemented in numerous countries across Asia, Africa, Europe and even South America. As of recent months, over 200 BRI cooperation agreements have been signed with more than 150 countries and 30 international organizations.

The projects include constructing or upgrading roads, ports, railways, pipelines and other trade-related infrastructure. Internet connectivity and digital advancement programmes have been pursued, too. In Mozambique, for instance, a BRI-funded project brought satellite television to 1,000 villages.

“Over these 10 years, we have endeavoured to build a global network of connectivity consisting of economic corridors, international transportation routes and information highways,” Xi added in his speech in October.

Pakistan's Prime Minister Nawaz Sharif speaks at the inauguration of the China Pakistan Economic Corridor port in Gwadar, Pakistan November 13, 2016. REUTERS/Caren Firouz

One of the largest and most notable BRI projects to date is the China-Pakistan Economic Corridor (CPEC). Launched in 2015, the CPEC is a trade corridor that connects Pakistan's Gwadar port on the Arabian Sea with Kashgar, a city in China's western Xinjiang Uygur Autonomous Region. The project has included the construction of airports, railways, highways and pipelines, among other types of trade and energy infrastructure. Total Chinese investments in the project have topped $60 billion.

Another recently completed BRI project is a high-speed railway connecting the Indonesian cities of Jakarta and Bandung. The 350-km-per-hour train opened to passengers in October. It is the first high-speed train in Southeast Asia and cut the previously three-and-a-half-hour trip to just 45 minutes.

“Connectivity is not only a major new trend of our time, but also a key driver of future economic growth,” stated a 2021 World Economic Forum report analysing the BRI’s impact on cities.

The Forum’s Belt and Road Cities’ Connectivity Index was developed to help BRI cities evaluate their current infrastructure and adopt targeted goals to create a network of connected urban areas. The report—which studied 22 BRI cities across Europe, Asia and Africa—offers five key policy recommendations: take advantage of existing strengths; use geographical proximity and cultural similarities to increase connectivity; build digital connections; strengthen city-to-city exchanges; and share best practices.

a case study of belt and road initiative

The BRI has faced criticism over the years. Critics warn that many BRI projects lack transparency and that Chinese investments can be a “debt trap,” especially for developing countries. China maintains, however, that its lending is not predatory .

Greening the BRI

Over the past decade, the BRI has also faced criticism over environmental and sustainability concerns. Yet, various initiatives and efforts have been advanced in recent years to create a greener BRI.

In 2018, for instance, the Green Finance Committee of China Society for Finance and Banking and the City of London’s Green Finance Initiative published the Green Investment Principles (GIP) for the BRI. The World Economic Forum and several other international organizations contributed to drafting the principles .

The GIP, which has been signed by dozens of stakeholders in several countries, urged lenders, investors and planners to ensure that BRI projects adhere to sustainability requirements. The principles called for the assessment and disclosure of climate risk mitigation strategies, the creation of green investment targets and commitments to phase out carbon-intensive investment.

Workers stand beside an Electric Multiple Unit high-speed train for a rail link project part of China's Belt and Road Initiative, at Tegalluar train depot in Bandung, West Java province, Indonesia, October 13, 2022. REUTERS/Yuddy Cahya Budiman

Moreover, in 2022, the World Economic Forum published a report on creating a more sustainable BRI. The report, Advancing the Green Development of the Belt and Road Initiative: Harnessing Finance and Technology to Scale Up Low-Carbon Infrastructure , details the technologies needed to green the BRI as well as the financial instruments and policy environment that can help facilitate the transition. For instance, the report calls for financial institutions to reduce their exposure to carbon-intensive sectors and increase the use of sustainable finance mechanisms like green and blue bonds.

“As the world’s largest manufacturer of solar panels, wind turbines, batteries and EVs, China is well placed to help deliver low-carbon technologies to [emerging and developing economies] as part of its Belt and Road Initiative,” the report states.

Several GIP signatories have already made progress, the Forum’s report notes. In 2021, for example, the Bank of China announced that it would stop providing financing for new coal-mining and coal-fired power projects overseas. Meanwhile, Ping An, a major Chinese conglomerate, announced a target date of 2035 for divesting unlisted investments in thermal coal mining and unabated coal power projects.

Changes to Chinese government policy have helped green the BRI in recent years, too. In 2020, the government-led BRI Green Development Coalition (BRIGC) published guidance on the importance of implementing best practices around environmental risk management. The BRIGC also created a colour classification system that evaluated and rated BRI projects based on their environmental impact.

$1 trillion and counting

Total BRI spending has already surpassed $1 trillion —an enormous sum China plans to recoup through various debt repayment plans. Today, BRI lending has made China the world’s largest debt collector .

And while investment levels have fluctuated over the years and some countries have ended their involvement with the BRI , funding has increased in recent months. In the first half of 2023, over 100 BRI agreements were signed, valuing a total of $43 billion—a roughly 20% increase from the first half of 2022.

“Our achievements in the past decade are truly remarkable,” Xi concluded in this October speech. “Belt and Road cooperation was proposed by China, but its benefits and opportunities are for the world to share.”

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Research Article

A study on the belt and road initiative’s trade and its influencing factors: Evidence of China-South Asia’s panel data

Roles Conceptualization, Supervision, Writing – review & editing

Affiliation School of Marxism, Hangzhou Normal University, Hangzhou, China

Roles Conceptualization, Methodology, Writing – review & editing

Affiliation School of Finance and Economics, Xizang Minzu University, Xianyang, China

Roles Writing – review & editing

Affiliation School of Economics, Hangzhou Normal University, Hangzhou, China

Roles Resources, Writing – review & editing

Affiliation Institute of Scientific and Technical Information, Chinese Academy of Tropical Agricultural Science, Haikou, China

Roles Conceptualization, Data curation, Resources, Software, Validation, Writing – original draft

Affiliation Hangzhou Economist Association, Hangzhou, China

Roles Conceptualization, Formal analysis, Funding acquisition, Investigation, Methodology, Project administration, Supervision, Writing – original draft, Writing – review & editing

* E-mail: [email protected]

ORCID logo

  • Ling Zhou, 
  • Yanghai Mao, 
  • Qinyi Fu, 
  • Danlu Xu, 
  • Jiaqi Zhou, 
  • Shaolong Zeng

PLOS

  • Published: April 14, 2023
  • https://doi.org/10.1371/journal.pone.0282167
  • Reader Comments

Fig 1

The Belt and Road Initiative (BRI) is a development plan proposed by China that aims to build a new platform for international cooperation and create new drivers of shared development. South Asia is a key area in the Belt and Road Initiative, including eight countries. As the BRI implemented, China’s trade with South Asia has been gradually strengthened. This paper explores the influencing factors of China-South Asia trade under the background of the BRI by using Gravity Model of Trade. The results show that economic growth in China and South Asia, increase of savings rate and improvement of industrialization in South Asia has a significant positive effect on China-South Asia trade. While the development gap between China and South Asia has negative effect on China-South Asia trade.

Citation: Zhou L, Mao Y, Fu Q, Xu D, Zhou J, Zeng S (2023) A study on the belt and road initiative’s trade and its influencing factors: Evidence of China-South Asia’s panel data. PLoS ONE 18(4): e0282167. https://doi.org/10.1371/journal.pone.0282167

Editor: István Tarrósy, University of Pecs Faculty of Humanities: Pecsi Tudomanyegyetem Bolcseszettudomanyi Kar, HUNGARY

Received: September 6, 2022; Accepted: February 9, 2023; Published: April 14, 2023

Copyright: © 2023 Zhou et al. This is an open access article distributed under the terms of the Creative Commons Attribution License , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Data Availability: All relevant data are within the manuscript and its Supporting Information files.

Funding: This work was supported by the Humanities and Social Sciences Fund, Ministry of Education of China under Grant number 18YJCGJW001. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.

Competing interests: The authors have declared that no competing interests exist.

1. Introduction

The Belt and Road Initiative (BRI) was first proposed by Chinese President Xi Jinping in 2013 [ 1 ]. The Belt is a land-based route leading from China to Europe via Central Asia. And the Road is its sea-based equivalent, passing through Southeast Asia, Africa and the Middle East on its way to Italy. BRI has received support and response from many countries. By October 2019, 137 countries and 30 international organizations signed 197 cooperation documents with China [ 2 ]. Connectivity through the BRI should be created by combining the building of infrastructure, the development of stronger regulations and the promotion of more personnel exchanges. BRI not only promotes economic cooperation between China and the world, but also promotes the transformation of the global governance system and speeds up China’s opening-up.

South Asia is a key area in the BRI, including Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka. With the construction of Economic Corridor in South Asia, including China-Pakistan Economic Corridor (CPEC), Bangladesh-China-India-Myanmar Economic Corridor (BCIM) and China-Nepal-India Economic Corridor, the trade cooperation between China and South Asia has been gradually strengthened. South Asia has unique geographical advantages in linking the east and the west and connecting the land and sea. Although the contribution of South Asia in the global economy is relatively low, it is the fastest-growing region in Asia-Pacific Region, with an economic growth rate of 7.6% from 2014 to 2018. The study on China-South Asia trade and the factors affecting it under BRI will help improving trade cooperation between China and South Asia and promoting the healthy development of BRI in South Asia.

The rest of paper is organized as follows. Section 2 provides the review of the literature. The trend and structure of China-South Asia trade are discussed in Section 3. Section 4 contains the theoretical framework and methodology. The empirical results are presented in Section 5. Section 6 contains conclusion and policy recommendations.

2. Literature reviews

2.1. bri and trade interdependence.

There are many researches on the opportunities and challenges of trade between China and South Asia. Tong & Yi (2019) assess the BRI’s effect on China’s trade development and find that there are huge variations across regions within the Belt and Road countries in their trade relations with China [ 3 ]. Du (2017) sum up the progress of the BRI construction in South Asia and the characteristics of international cooperation under the background of BRI in South Asia [ 4 ]. Xu et al. (2018) analyze the development and dilemma of China-South Asia regional cooperation through the "Five Links" of BRI [ 5 ]. Ramasamy & Yeung (2019) compare the impact of the main initiatives of the One Belt One Road (OBOR), and find overwhelming evidence that shows improvements in border administration has the greatest impact on exports of corridor countries [ 6 ]. Hu et al. (2017) suggest the main factors that restrict the trade between China and South Asia including the unstable political situation of some countries in South Asia [ 7 ].

Trade interdependence between China and South Asia is also studied by many scholars. Zhao et al. (2019) use Hubness Measurement (HM) Index to measure the trade interdependence between China and South Asia. The results show that the dependence of China’s exports on South Asia countries is significantly lower than the dependence of South Asia countries’ exports on China. Since BRI was proposed, the overall dependence of China’s exports on South Asia countries has been increasing, while the dependence of South Asia countries’ exports on China is declining [ 8 ]. Chen & Xu (2018) analyze the trade complementarity and competitiveness between China and South Asia by measuring indicators such as revealed comparative advantage (RCA) index, export similarity index (ESI), trade integration index (TII) and complementarity index (CI). They find that both competitiveness and complementarity exist in the trade between China and South Asia countries. China mainly exports manufactured goods to South Asia countries, while South Asia countries mainly export primary and semi-finished goods to China [ 9 ]. Li & Lei (2019) calculate the trade competition index and trade complementarity index between China and four South Asia countries. The results show that China’s trade with Pakistan, Sri Lanka and Maldives are partial complementary, while China-India trade is both competitive and complementary [ 10 ]. Hu et al. (2017) study the trade competitiveness and complementarity of trade between China and South Asia countries on different products by calculating RCA and trade complementarity index (TCI). They suggest that China has an absolute advantage over South Asia countries in capital-intensive and technology-intensive machinery and transportation equipment products, while South Asia countries have advantages in food and live animals, manufactured products. China-South Asia trade is both competitive and complementary in labor-intensive industrial manufactured goods trade. China and South Asia are highly complementary in food, live animals and minerals [ 7 ]. Feng & Liu (2017) study the China-South Asia trade by analyzing comparative advantage and competitive advantage of China and South Asia. The industrial international competitiveness of 9 industries in China and South Asia countries is studied. The results are consistent with Hu et al. [ 11 ]. Foo et al. (2020) explore the potential effects of OBOR policy on trade flows in ASEAN countries and China. They use the augmented gravity model of international trade and data on ASEAN countries and China from 2000 to 2016. The empirical results show that the coefficient of the OBOR dummy is positive and statistically significant, which implies that this policy benefits both ASEAN countries and China in terms of increased trade flows among these countries [ 12 ].

2.2. Trade and economic growth

Khan (2020) examines whether trade openness and inward FDI may affect income distribution in an unbalanced panel of five South Asian countries over the period of 1990–2016. The results reveal that trade and FDI have significant effects on income inequality, however, inverted U-shaped curve holds for trade as purposed by the trade theory [ 13 ]. Basnet (2020) examines the long-run impact of terms of trade (TOT) on economic growth in the context of eight South and Southeast Asian emerging economies. Economic growth over the last three decades has been impressive in the region though TOT has shown an overall declining trend. The results provided adequate evidence of the long-run relationship of TOT with income and investment in South and Southeast Asia. Despite a positive relationship, TOT movements did not exert a significantly large impact on income in the short run [ 14 ]. Rahman et al. (2020) investigate the impact of CO2 emissions, population density, and trade openness on the economic growth of five South Asian countries by using data from 1990 to 2017. The panel co-integration approach of extended neoclassical growth model is used. And the results reveal that CO2 emissions and population density positively and trade openness negatively affect the economic growth in South Asia [ 15 ]. Kumar (2020) presents the facts on India’s role in the economic development of South Asia region while testing the potential spillovers of India’s trade and economic growth. The results highlight that the economic growth and regional trade of India are found significant short and long run spillovers on the economic growth of Bangladesh, Sri Lanka, Nepal and Bhutan [ 16 ]. Zakaria et al. (2016) empirically examine the effects of trade liberalization on undernourishment and income inequality in South Asian countries (SACS). The estimated results reveal that undernourishment has decreased while income inequality has increased in the region after liberalization [ 17 ]. Tristan (2019) considers the effect of BRI on supply-chain trade for 64 economies. He employs a structural gravity equation to estimate the impact of trade-cost reducing measures notably infrastructural improvements and the creation of free trade agreements on supply-chain trade and welfare in general equilibrium. The results show that infrastructural investments will yield asymmetric benefits to China, Russia and Southeast Asian countries stemming from greater European market access [ 18 ].

2.3. Trade influencing factors

Huang et al. (2020) construct a measurement equation for China’s exports to the five Central Asian countries based on the gravity model of international trade for the purpose of forecasting China’s future export growth potential under the background of the BRI. They use panel data from 2010 to 2017 to perform multiple regression analysis under the random effects model. They find that the model using China’s GDP, trading partners’ GDP, geographical distance, and borders as explanatory variables has a higher degree of fitness and each key explanatory variable is significant [ 19 ]. Hu (2014) explores the factors influencing China’s exports to South Asia countries using Gravity Model, which includes GDP of China and host countries, FDI inflows of South Asia, nominal exchange rate of RMB against the US dollar, geographical distance, the degree of openness of South Asia [ 20 ]. Xu & Liu (2019) also investigate the factors affecting the trade between China and BRI countries by using Gravity Model. The results show that economic development, market size, income, trade facilitation and FDI have effect on the trade [ 21 ]. Kong (2018) study the influencing factors of bilateral trade between China and 64 BRI countries. The results show that GDP growth of China and trade facilitation condition promote bilateral trade. While geographical distance, institutional distance and adjacency effect have negative effect on trade [ 22 ]. Han & Lv (2018) find out the improvement of trade facilitation can improve the terms of trade of China-South Asia trade [ 23 ].

There are other researches find out the trade can also be affected by intuitional and cultural factors. Ren & Liu (2017) study on the trade between China and Central Asia and find that the GDP of China and Central Asia countries, the population of host countries, China’s dependence on foreign trade and the accession to World Trade Organization (WTO) have positive effect on China-Central Asia trade [ 24 ]. Wan (2019) investigate the influencing factors of trade between China and 22 BRI countries. The results show that the accession to WTO, Asia-Pacific Economic Cooperation (APEC) and BRI have significant positive effect on the trade between China and BRI countries [ 25 ]. Zhang (2019) find that GDP, population, transportation distance, whether the two countries are bordered and the accession to the WTO, APEC, Shanghai Cooperation Organization, Asian Investment Bank have certain effect on the bilateral trade between China and BRI countries [ 26 ]. Li et al. (2019) explore the factors affecting the trade between China and 33 BRI countries based on Stochastic Frontier Gravity Model. They find that economic development, the population of importer, financial freedom, infrastructure, frequency of cultural exchanges can promote the bilateral trade, distance has a negative effect on it [ 27 ].

Akram (2020) analyzes the causes of low intra-regional trade connections within South Asia. By using World Bank data and other relevant sources for the period 1995–2018, he finds that the South Asian Free Trade Area (SAFTA) countries are not actually natural trading partners. Rather they are often competitors, seeking to export the same product groups [ 28 ]. Kumar (2020) applies trade intensity index of four largest South Asian countries (India, Bangladesh, Pakistan, and Sri Lanka) to estimate the short‐run and long‐run trade co‐integration in autoregressive multilateral framework. He finds that there are long‐run trade complementarities between the trade of Pakistan and Sri Lanka, while short‐run trade complementarities exist between India and Bangladesh, and between India and Sri Lanka. Pakistan and Bangladesh are found close trade competitors in South Asia in short run [ 29 ]. Mahmood & Jongwanich (2018) examine the effects of in-effect free trade agreements (FTA) on exports of Pakistan using the extended gravity model of bilateral trade flows. Their systematic comparison of both the measures of an FTA suggests that the estimation based on the tariff gap is consistent with the observed changes in the trade pattern of Pakistan. Pakistan-China FTA (PCFTA) has the largest stimulating effect for Pakistan’s exports, while the effects of other FTAs are much smaller and not much different from each other. The effects of FTAs on agricultural products tend to be higher than those of manufacturing ones, suggesting ability of firms in the former to better comply with imposed rules of origin (ROO) than the latter [ 30 ].

2.4. Effect on a certain type of goods

In addition to the research on the influencing factors of the overall bilateral trade flow, some scholars also study the influencing factors of the bilateral trade from perspective of one type of goods, such as agricultural products and digital trade.

Kumar (2021) use qualitative approach and quantitative analysis got the results establish the presence of agri-trade barriers from South Asian countries against India as well as India’s barriers against rest seven countries of South Asia [ 31 ]. Hatab et al. (2010) find that the fluctuations in economy, population, exchange rate have impact on agricultural exports by using Gravity Model [ 32 ]. Hong (2019) analyzes the situation and structure of agricultural trade between China and 5 Central Asia countries. The results show that GDP, population, difference of GDP per capita, distance, agricultural value added (% of GDP) and accession to the BRI could affect the agricultural trade between China and the five Central Asia countries [ 33 ]. Kaur et al. (2020) use revealed comparative advantage indices to assess the comparative advantage and the indicative trade potential of different South Asian countries in various services sub-sectors. The study reveals that there stand complementarities in the trade of services as Pakistan and Sri Lanka have a competitive advantage in Transport Services, while India has a competitive advantage in Computer and Information Services and Other Business Services. In travel services, Maldives and Nepal possess competitiveness, while Bangladesh in Government Services [ 34 ]. Tan et al. (2015) find that spatial distance, income gap, population, openness and are important factors affecting China’s agricultural exports to BRI countries [ 35 ]. Hu & Qi (2018) find that there is a large development potential and cooperation space for agricultural products trade between China and four South Asia countries [ 36 ]. Digitalization is reducing the cost of engaging in international trade, connecting businesses and consumers globally, helping to diffuse ideas and technologies and facilitating the coordination of global value chains. Choudhury (2020) assess the potential volume of digital trade in South Asia and estimated the possible loss of tax revenue incurred by this region during the last decade. For both South Asia and India, the results for actual import figure are found to be less than the estimated value [ 37 ].

The research on trade between China and BRI countries is a hot topic that gets a lot of attention. Based on previous studies, this paper makes further research on China-South Asia trade, including the trend and structure of China-South Asia trade, as well as its influencing factors. We investigate whether economic development, development gap, investment, distance, level of industrialization and accession to the BRI could affect the bilateral trade, including both economic and institutional factors.

2.5. Literature reviews

Above, the relationship between the Belt and Road Initiative, trade dependence and economic growth, as well as the influencing factors of trade and its role in specific commodity fields are summarized and analyzed in detail. Studies have shown that under the background of the Belt and Road Initiative, the trade between China and South Asia is affected by the economic growth of the two countries, which has opportunities and interdependence, and is also challenged by many aspects, such as politics. Based on the research on the influencing factors of international trade, we conclude that economic growth (GDP), geographical distance, market size, income and the degree of trade liberalization are the most important influencing factors of trade between China and countries along the Belt and Road Initiative.

Countries along the route have great differences in politics, economy, infrastructure and geographical location, which brings great risks and challenges to trade. Therefore, it is necessary to identify and analyze the trade influencing factors among countries along the "the belt and road initiative". At present, BRI is rarely used as a variable to introduce empirical models of the impact on South Asian trade. By establishing a trade gravity model, this paper analyzes the main influencing factors of trade between countries along the "the belt and road initiative", and estimates the trade potential of the two countries, thus providing certain theoretical support and reference for the trade quality.

3. Trade between China and South Asia

3.1. summary of china-south asia trade.

The total value of imports and exports between China and South Asia has maintained rapid growth during 2004–2018. China’s imports to South Asia remained stable except that it fluctuated slightly under the influence of the global financial crisis from 2008 to 2010. Since 2013, China and most countries in South Asia have gradually reached a consensus on the "the belt and road initiative" issue. China and five South Asian countries-Sri Lanka (December 2014), Maldives (December 2014), Bangladesh (October 2016), Pakistan (May 2017) and Nepal (May 2017) signed the Memorandum of Understanding on "the belt and road initiative" cooperation. In July 2018, the Bhutanese government welcomed the positive measures of "the belt and road initiative". The Afghan government expressed the hope to participate more fully in the construction of "the belt and road initiative" in March 2022. Bilateral trade between China and eight South Asian countries has made great progress since 2013. Bilateral trade between China and eight South Asian countries totaled $96.252 billion in 2013, but by 2021, this figure has risen to $187.554 billion. The smooth implementation of the "the belt and road initiative" initiative in South Asia requires policy exchanges and strategic docking between China and countries in South Asia, especially in the core areas. For example, the "the belt and road initiative" strategy and Pakistan’s "Vision 2030" strategy should be organically combined to jointly promote the high-quality development of China-Pakistan Economic Corridor. To promote the convergence of the 21st Century Maritime Silk Road and Sri Lanka’s national development strategy, the two sides focused on three key areas: Colombo Port City Project, Hambantota Port Comprehensive Development and China-Sri Lanka Free Trade Area Negotiation. From the perspective of Balance of Trade (BOT), China enjoy a massive surplus in the trade with South Asia for a long time. Wang & Sun (2019) study on the trade between China and 8 South Asia countries. They also find the significant imbalances of trade between China and South Asia [ 38 ].

3.2. Trend of China-South Asia trade

Fig 1 shows China’s Trade with South Asia from 2004 to 2018.

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The proportion of China’s total value of trade with South Asia to China’s total value of trade shows an increasing trend, raising from 1.7% in 2004 to 3.03% in 2018. There is a short term decreasing before 2013, but increasing significantly after 2013. Less than 2% of China’s total imports come from South Asia. And the proportion of China’s imports from South Asia to China’s total imports is decreasing. The proportion of China’s exports to South Asia increases from 1.89% in 2004 to 4.74% in 2018. This trend is particularly pronounced after 2013.

In 2021, ASEAN, the European Union, the United States, Japan and South Korea ranked in the top five. The growth rate of import and export trade of countries along the "the belt and road initiative" has obviously accelerated. According to the statistics of trading countries and regions, Asia is the largest trade zone in China, accounting for 51.59%. South Asia is the country with the highest population density in the world, but due to the limitation of economic development level, the eight South Asian countries are not China’s main trading partners. However, from the perspective of development, the economic and trade cooperation between South Asia and China is developing rapidly, and China’s trade status in South Asian countries has also been significantly improved.

Fig 2 shows South Asia’s Trade with China from 2004 to 2018. The proportion of South Asia’s total value of trade with China to South Asia’s total value of trade shows an increasing trend, raising from 7.89% in 2004 to 12.93% in 2018. The proportion of South Asia’s imports from China to South Asia’s total imports shows an increasing trend, especially in the three years after BRI was put forward. In 2016, approximately 20% of South Asia’s total imports come from China. The proportion of South Asia’s exports to China decreasing from 7.92% in 2004 to 5.56% in 2018. Therefore, China plays an important role in South Asia’s international trade. Compared to China, South Asia relies more on Chinese imports.

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https://doi.org/10.1371/journal.pone.0282167.g002

India is China’s largest trade partner among eight South Asia countries. The total value of trade between China and India has increased from 13,614 million US dollars in 2004 to 95,509 million US dollars in 2018, which has increased nearly 7 times in 15 years, China-India trade takes more than 60% of total value of trade between China and South Asia. The following is Pakistan, Bangladesh and Sri Lanka. The total value of trade between Pakistan and China is also increasing, takes 10% to 20% of the total value of trade between China and South Asia. The trade between China and Bangladesh expand rapidly, the value of trade raises significantly during 2004–2018. Both Nepal, Afghanistan, Maldives and Bhutan, accounting for less than 1% in China-South Asia trade.

3.3. Structure of China-South Asia trade

In this paper, we use Standard International Trade Classification (SITC) to classify the import and export commodities. According to Table 1 , STIC-0 to STIC-4 are classified to primary commodity, STIC-5 to STIC-9 are classified to manufactured commodity.

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https://doi.org/10.1371/journal.pone.0282167.t001

Table 2 shows that China’s exports to South Asia countries from 2004 to 2018. The commodities China exports to South Asia are mainly SITC-6, SITC-7 and SITC-8, which are manufactured commodities with relatively high value-added.

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https://doi.org/10.1371/journal.pone.0282167.t002

Table 3 presents the change in the structure of China’s imports from South Asia, showing that the structure of China’s imports from South Asia countries has changed significantly compared with China’s exports from 2004 to 2018. For example, China’s imports from Afghanistan, India and Sri Lanka are concentrated in SITC-2 before 2014, accounting for more than 50%. Imports of SITC-2 from India and Sri Lanka decrease to 20% approximately in 2012. In 2018, the import commodities were mainly SITC-6 and SITC-8.

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https://doi.org/10.1371/journal.pone.0282167.t003

Therefore, the structure of China’s exports from South Asia does not have significant change, which mainly focuses on the manufactured commodities. While the commodities China imports from South Asia has changed from primary commodities to manufactured commodities gradually.

4. Theoretical framework and methodology

4.1. theoretical framework.

The idea of the Gravity Model of Trade comes from Newton’s Laws of Universal Gravitation, which states that every particle attracts every other particle in the universe with a force which is directly proportional to the product of their masses and inversely proportional to the square of the distance between their centers. Since 1950s, Laws of Universal Gravitation was gradually introduced into the research on international trade, The Gravity Model of Trade highlights that geographical distance and economic size are the two basic factors determining the bilateral trade flows between the nations. The basic hypothesis of the Gravity Theory is size of the nations and trade flows have positive relationship, distance between nations and trade flows have negative relationship. The economic growth of a country can affect its market size. The larger the market size is, the greater the import and export demand is. The distance between the two countries can influence transportation costs in international trade.

Based on the Gravity Model of Trade and previous studies on the influential factors of international trade, we investigate whether economic growth, distance, international investment, national savings rate, level of industrialization and the accession to the BRI have influence on China-South Asia trade.

Economic growth of China and South Asia. GDP often used as the proper measure of the country’s potential trade. The GDP of the exporter measures productive capacity, while GDP of the importer measures absorptive capacity. Therefore, GDP is expected to be positively related to bilateral trade.

Geographical distance. Academia generally believes that the distance between two countries determines the cost of cargo transportation. The longer the distance is, the higher the transportation cost is.

International investment. With the China’s Go-Out Strategy, FDI has promoted the production efficiency of host countries through technology transfer, technology diffusion and spillovers, which has further promoted the trade cooperation.

Savings rate. A nation with lower savings rate indicates that the citizens tend to consume, while a nation with higher savings rate means that the citizens tend to consume in the future. The savings rate affects production and investment to some extent. Savings increase the capital stock by domestic investment, promote the infrastructure construction and economic development.

Industrial structure. The structure of a nation’s commodity trade depends on its industrial structure. The economic development of South Asia countries is relatively low. As mentioned above, the commodities China imports from South Asia changed from primary commodities to manufactured commodities, which also shows that South Asia countries are gradually organizing the agrarian economy into one focused on the mass production of goods and services. We choose the industrial value added (% of GDP) to measure the level of industrialization.

The impact of BRI on trade is another important factor we are interested in. BRI is composed of “Five Links” policy coordination, infrastructure connection, trade facilitation, financial capital flows and people-to-people exchanges.

4.2. Methodology

a case study of belt and road initiative

https://doi.org/10.1371/journal.pone.0282167.t004

Due to some data of Bhutan is unavailable and the trade volume between the other seven countries and China accounts for more than 99% of the total value of China-South Asia trade, the data of the other seven countries are used. The data of trade volume between China and South Asia countries is from China’s National Bureau of Statistics. The data of GDP and the industrial added value (% of GDP) is from the World Bank Database. The data of saving rate is from International Monetary Fund Database. The distance between China and South Asia countries is from www.indo.com . Data on China’s direct investment in South Asia countries come from Statistical Bulletins of China’s Foreign Direct Investment. The data whether South Asia countries join the BRI or establish a free trade zone with China comes from the Belt and Road official website ( www.yidaiyilu.gov.cn ).

5. Results and discussion

5.1. stationarity test.

We test the stability of the data by using unit root test including common root-Levin, Lin & Chu, the individual root-ADF Fisher, the individual root-PP Fisher. All variables were integrated of order 1 at the 5% significance level, as shown in Table 5 .

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https://doi.org/10.1371/journal.pone.0282167.t005

Kao Residual cointegration test could be performed to determine whether there was a long-term equilibrium relationship between variables. The results of the cointegration test are shown in Table 6 .

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https://doi.org/10.1371/journal.pone.0282167.t006

5.2. Pool estimate

Fixed effect model is selected after we run the Hausmann test. Distance, which does not change with time, is eliminated in the regression process due to the limitation of panel data. The empirical results are shown in Table 7 .

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Dependent variables: lnTR , lnEX and lnIM .

https://doi.org/10.1371/journal.pone.0282167.t007

The results show that influencing factors on the China-South Asia trade, China’s exports to South Asia and China’s imports from South Asia have significant differences.

On the China-South Asia trade as shown in column (1), the coefficients of lnGDP it is positive and significant at 5% level, the coefficients of IND it is positive and significant at 10% level, and the coefficients of AR(1) is positive and significant at 1% level, respectively, which indicates that economic growth in South Asia, the improvement of industrialization in South Asia countries, and the bilateral trade of last years can promote the bilateral trade. Therefore, we conclude that under the construction of the Belt and Road Initiative, the open economy of China-South Asia will be further deepened.

On China’s exports to South Asia as shown in column (2), the coefficients of lnGDP it is positive and significant at 5% level, the coefficients of AR(1) is positive and significant at 1% level, respectively, which indicates that economic growth in South Asia, and China’s exports to South Asia of last years can promote China’s exports to South Asia. This was consistent with the findings of Zhao et al. (2019) and Chen & Xu (2018) [ 8 , 9 ]. Thus economic growth in South Asia countries will expand demand, and based on the path-dependence such as import products from China as usual, this would increase China’s exports to South Asia further.

On China’s imports from South Asia as shown in column (3), most facts have significant effect and the same expected sign. The coefficient of lnGDP it is negative and significant at 10% level, which is different from the expected sign. This is due to the restriction of economic development level, China mainly imports labor-intensive products from South Asian countries, because countries with lower economic development level have relatively few laborers, and the eight South Asian countries are not China’s main trading partners. The coefficients of lnGDP ct , lnGDPP ict , lnFDI ict and AR(1) is significant at 1% level with the same expected sign. The economic growth in China, China’s invest, the common development of China-South Asia, the path-dependence such as import products from South Asia will encourage South Asia’s export to China. The coefficient of SR it is positive and significant at 5%level. Therefore, the increase of savings rate of South Asia can expand domestic investment of South Asia countries and bring more opportunities to export goods for South Asia.

The coefficient BRI it is positive and significant at 10% level in column (3), while not significant in column (1) and (2), This shows that the impact of the Belt and Road Initiative or establish a free trade zone at present is relied on China much more than on South Asia, which was consistent with the findings of Kong (2018) and Zhang (2019) [ 22 , 26 ]. The BRI has many obstacles in South Asia, such as geopolitical competition in India, the terrorist activities in Afghanistan. Pakistan is trapped in the political turmoil with slow economic development.

To sum up, we concluded that, GDP, FDI and AR (1) have significant influence on China-South Asia trade, which means that economic growth, development gap, national savings rate and industrialization level are the main influencing factors of trade between China and South Asia. Among them, economic growth, savings rate and industrialization level of both sides have a significant positive impact, while the development gap between China and South Asia has a negative impact on trade between China and South Asia. The impact of BRI on China-South Asia trade is mainly reflected in China’s imports, which shows that the construction of the Belt and Road Initiative still needs to be deepened step by step.

6. Conclusions and policy implications

The trade volume between China and South Asia has been increasing gradually. But the trade imbalance is obvious—South Asia seriously depend on China’s imports. China mainly exports capital-intensive products to South Asia, while China imports labor-intensive products from South Asia. The economic growth, the development gap, national savings rate and the industrialization level have influence on the trade between China and South Asia. Among these influencing factors, economic growth of China and South Asia counties, savings rate and industrialization level of host countries have significant positive effect on the bilateral trade, while development gap has negative effect. However, the effect of BRI on China-South Asia trade is not significant. The following policy implications are proposed.

Promote China’s Going Out Strategy and encourage foreign direct investment. On the one hand, as China improve the value chain and increase the environmental awareness, many capital-intensive and labor-intensive industries, such as construction, manufacturing and energy, are shifting production abroad. Many Chinese multinationals bring advanced technology to invest in countries with rich resources and lower labor costs. On the other hand, expanding China’s investment in South Asia will facilitate technology transfer to domestic firms through spillover, which also promote domestic firms to make the strategic decision to adopt the advanced technology and stimulate innovation and creativity.

China and South Asia should deepen the cooperation of production. China has a relatively high level of industrialization. Deepening production capacity cooperation through building production bases and economic and trade cooperation zones can promote the industrialization of South Asia. The improvement of the industrialization expands the range of commodities of China-South Asia trade and optimize the trade structure.

Through combing the existing literature, although there are innovations, there are still limitations. For example, in terms of choosing influencing factors, although the research pursues the comprehensiveness of the theme, there may be other factors that have a certain impact on bilateral trade. In addition, the implementation of the Belt and Road Initiative policy is affected by many parties, and the implementation of specific projects and their impact on trade and economy need longer time and data to further prove and analyze. This study suggests that future research should continue to track and explore the trade influencing factors of South Asia and other countries and regions along the Belt and Road Initiative.

Supporting information

https://doi.org/10.1371/journal.pone.0282167.s001

  • 1. Xinhua. Xi suggests China, C.Asia build Silk Road economic belt. China Daily. 2013; 09:07.
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  • 22. Kong X. Study on the Bilateral Trade between China and the "the Belt and Road" Countries and Its Influencing Factors from the Perspective of Space; Publisher: Qingdao University of Technology, China, 2018.
  • 26. Zhang Y. Research on the status quo and influencing factors of trade between China and countries along the "Belt and Road"; Publisher: Sichuan International Studies University, China, 2019.

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The belt and road initiative in italy. five case studies.

a case study of belt and road initiative

Italy’s officially joining the China-led Belt and Road Initiative sparked a fierce debate. By analysing five fields of cooperation, the volume sheds light on whether the bilateral agreement has brought about an intensification of bilateral collaboration as wished by the Italian government at the time and whether the concerns around it have materialised. The contributions will show that potential risks coexist alongside unsubstantiated ones.

Volume prepared in the framework of the IAI project ‘When Italy Embraces the BRI’.

  • In: Global Politics and Security
  • ISBN/ISSN/DOI: 978-3-0343-4496-8; 978-3-0343-4707-5 (pdf); 978-3-0343-4708-2 (ePUB); 10.3726/b20683

Table of contents

Figures, p. 7 Tables, p. 9 Foreword / Lorenzo Kamel , p. 11-12 Introduction / Beatrice Gallelli, Francesca Ghiretti and Lorenzo Mariani , p. 13-25 1. The Maritime Belt and Road: Italian ports / Francesca Ghiretti , p. 27-45 2. China-Italy: An analysis of financial cooperation / Nicola Bilotta , p. 47-69 3. One belt one voice: Chinese media in Italy / Francesca Ghiretti and Lorenzo Mariani , p. 71-96 4. Silk road academic connections / Nicola Casarini , p. 97-117 5. The internationalisation of China’s scientific power / Lorenzo Mariani , p. 119-144 Conclusion / Beatrice Gallelli, Francesca Ghiretti and Lorenzo Mariani , p. 145-159 Contributors, p. 161-162 Abbreviations, p. 163-165

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Report: Many of China's Belt and Road projects underfunded

Australian researchers say China's Belt and Road initiative is stumbling. They've released a new report showing many of Beijing's investment commitments for infrastructure projects in Southeast Asia went unfulfilled.

The Lowy Institute released data on Wednesday covering the period between 2015 and 2021. The report says China agreed to provide funding totaling 84.3 billion dollars, but actually supplied just 29.6 billion dollars.

It cites cancelled railway projects in Thailand and the Philippines as examples.

The institute says factors include political instability in some countries, and poor engagement with local stakeholders. It also points to the global energy transition and coronavirus pandemic.

The report goes on to say the Belt and Road initiative has an uncertain future because of China's economic downturn and multiple debt crises in borrowing countries.

It says Beijing is minimizing risk by shifting to smaller projects.

a case study of belt and road initiative

China’s tech-sharing pivot in belt and road is in its best interests

  • After years of focusing on infrastructure investment in its Belt and Road Initiative projects, China now offers its partner countries funding and expertise in clean technologies
  • This will encourage regional nations, particularly in Southeast Asia and the Middle East, to keep engaging with China

Recent reports have indicated that China is shifting its focus within the Belt and Road Initiative towards sharing technical expertise , emphasising " small but beautiful " projects over larger infrastructure investments such as roads and ports. This pivot presents the most effective response to US competition and constraints, particularly in Southeast Asia and the Middle East.

The mainstay of China's signature initiative has been infrastructure investment and construction of roads, railways and ports. Many of these investments and work have come under scrutiny because of either the recipient state's financial difficulties or geopolitics surrounding port construction at strategic locations.

China will not necessarily dial down its commitment to some projects with economic sense and strategic implications. However, it does find value in sharing technical expertise and investing in relatively small-scale projects with positive branding for the country.

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These include investments in and sharing expertise on renewable energy sectors such as solar and wind power, climate-friendly transport and green technology industries for mining, processing and manufacturing of minerals for electric vehicle batteries, solar photovoltaics and wind turbines.

In 2021, China announced it would end the financing for the construction of coal-fired power plants , in part because of the environmental hazards and associated reputational costs. Cost efficiencies , the availability of green technologies and the need to fill the gap in some minerals critical to the green transition also drove this change.

This policy transformation has led to Beijing's investments and expertise-sharing in clean energy technologies in Southeast Asia, the Middle East and Africa. The Belt and Road Initiative has laid the foundation of strong economic and technological engagement, with agriculture and mining representing the fastest-growing sectors of the initiative by 2023.

In Southeast Asia in particular, the initiative and the Regional Comprehensive Economic Partnership have paved the way for increased levels of tariff-free bilateral trade. Spurred on by these economic links, China has helped Southeast Asian countries develop green energy technologies and industrial supply chains.

China's investments and cooperation have helped Indonesia transform itself from being an exporter of raw nickel to the largest refined nickel-producing country, leading to an increase in nickel exports from US$6 billion in 2013 to US$30 billion in 2022. Moreover, Chinese battery manufacturer CATL has committed to investing about US$6 billion in a complete electric vehicle battery supply chain in Indonesia.

Chinese carmaker BYD, one of the largest investors in Southeast Asia , is building a car assembly plant in Thailand, expanding showrooms in Malaysia and planning investments in other regional countries. Chinese solar panel and energy storage manufacturers are also planning investments in Vietnam.

Meanwhile, in the renewable energy sector, nine Chinese companies have pledged more than US$13.5 billion of investment in the Philippines' green energy sector. Chinese solar panel manufacturers are also partnering with Southeast Asian nations such as Malaysia and Indonesia to produce solar power farms and production lines for solar panels and energy storage.

In comparison to China's climate pledges, the Group of 7 nations have joined multilateral banks and private lenders to pledge more than US$35 billion towards Just Energy Transition Partnership projects in Indonesia and Vietnam with the aim of helping them phase out coal and adopt renewable energy. However, Washington has also imposed tariffs on solar panel imports finished in some Southeast Asian nations by Chinese manufacturers hoping to dodge US import duties .

The Middle East is another part of the world where Chinese investments are under scrutiny from the West. China's relationship with regional countries follows a similar logic to those in Southeast Asia, but here it revolves around China's energy imports rather than Belt and Road Initiative investments. Trade between China and Arab states reached US$431.4 billion last year, up from US$222.4 billion a decade ago.

Why China prefers diplomacy to military pressure in the Middle East

Arab countries see China's value to them as extending beyond their green energy transition. Beijing's technology-sharing and investment has expanded from solar modules and wind turbines to 5G communication networks, artificial intelligence (AI) and beyond. Huawei has helped 14 telecoms operators in Arab countries deploy 5G networks since 2018.

At the same time, the US government and private firms are starting to show concern over selling advanced AI chips to Middle East-based companies given China's presence in the region. In December, Abu Dhabi-based AI firm G42 said it would cut ties with Chinese suppliers to retain access to US-made chips after US officials expressed concern about its links with Huawei and China.

Much like their Southeast Asian counterparts, though, Middle Eastern countries appreciate China as a partner which has fewer strings attached when offering expertise and investment. Pressure on these countries to reconsider their cooperation with China on advanced technologies is likely to keep growing, but it is unlikely that they would agree to fully part ways with China given Beijing's guidance in their technological transformation, green energy transition and missile and civil nuclear technology.

To navigate these challenges, China should concentrate on areas where it holds a competitive advantage over the US. This entails bolstering internal security and stability in Middle Eastern nations through initiatives such as cooperation on policing and smart city projects . Moreover, China can offer valuable technological expertise across various sectors such as mining, manufacturing, energy and military hardware.

Given that it is already engaged in cooperative efforts with Arab countries in these areas, China simply needs to intensify these initiatives to outshine the US and incentivise regional nations to maintain a balanced relationship between the two major powers. This strategy not only safeguards China's interests but also makes it more costly for regional actors to try to sideline Beijing.

Asma Khalid is an independent researcher and former visiting fellow at the Stimson Centre

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This article originally appeared on the South China Morning Post (www.scmp.com), the leading news media reporting on China and Asia.

Copyright (c) 2024. South China Morning Post Publishers Ltd. All rights reserved.

Visitors sample displays at Huawei's booth at the Riyadh Front Expo Centre in Saudi Arabia on February 6, 2023. Photo: Natalie Wong

a case study of belt and road initiative

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  • New book on Japan's role in Belt and Road Initiative launched

a case study of belt and road initiative

The Institute of Japanese Studies at the Chinese Academy of Social Sciences, in collaboration with the China Social Sciences Press, held a launch event and academic seminar for their latest book, "An Analysis of Japan's Role in Promoting the Belt and Road Initiative", on March 26.

The book aims to provide theoretical support and policy references for China's Belt and Road Initiative (BRI), as well as for expanding and deepening foreign opening-up and constructing a new pattern of open development.

During the event, participants emphasized Japan's significant role in the Belt and Road Initiative and highlighted the importance of understanding Japan's evolving perceptions, strategic layouts, and policy responses to the initiative.

Zhao Jianying, director of China Social Sciences Press, noted that this book provides not only an objective and comprehensive interpretation of Japan's role in promoting the Belt and Road Initiative but also conducts an in-depth analysis of the characteristics of China-Japan relations, including "long-term interference and fluctuations" and "cooperative rivalry".

While following their inherent trajectory, China-Japan relations are inevitably influenced by the international situation and the current trends, making them extremely complicated, said Yang Bojiang, director of the Institute of Japanese Studies at the Chinese Academy of Social Sciences.

Yan Kun, Party secretary and deputy director of the Institute, pointed out that as an important neighbor of China and a developed country in Asia, Japan plays a critical role in the process of promoting the Belt and Road Initiative. Therefore, its evolving perceptions, strategic layout and policy responses to the initiative deserve great attention and in-depth study.

Scholars at the seminar recognized the book for its theoretical significance and practical insights, which shed light on the complexities of Sino-Japanese relations within the context of the initiative. The research findings offered valuable perspectives on various aspects, including regional and national studies, the development of Japanese studies, China-Japan relations in English academic circles, geopolitics' impact on bilateral relations, third-party market cooperation, and international sister city partnerships.

a case study of belt and road initiative

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a case study of belt and road initiative

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  30. New book on Japan's role in Belt and Road Initiative launched

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