How China's Silk Road Initiative is Changing the Global Economic Landscape (Routledge Studies in the Growth Economies of Asia)

"China's New Silk Road initiative constitutes one of the most ambitious projects in recent decades designed to change the pattern of the global economic division of labour as well as the geostrategic balance of power. It has the potential to create a new fabric of industrial value creation that links China and East Asia via Central and South Asia with Europe, and to forge new regional and multilateral institutions that complement or compete with existing regional and global governance systems. First proposed in 2013, the new initiative is only now starting to be rolled-out, with trade relations gradually intensifying, and the first investment projects and infrastructure clusters becoming manifest. However, the full impact of the evolving new regional value chains on global goods flows, investment activity, supra-national institution building, as well as their wider international implications, remains undetermined. This book brings together leading scholars from economics, political science and area studies, who present the latest cutting-edge knowledge and the latest state-of-the-art economic and political analysis on how the new initiative is developing and likely to develop"-- Provided by publisher Cover Half Title Series Page Title Page Copyright Page Contents List of figures List of tables List of contributors Introduction: the Belt & Road Initiative—manifestations, driving forces, and international responses SECTION I: The logic of the BRI and its domestic economic impacts 1 China’s rejuvenation and the Belt and Road Initiative 2 Motivations, actors, and implications for the New Silk Road trains 3 Can the Belt and Road Initiative promote the catching-up of China’s West and South-West? 4 “The Belt and Road” Initiative will promote the economic cooperation between China and the Western countries SECTION II: BRI and its impact on the structure of global economic interaction 5 AIIB and the reform of international financial system 6 Commodity structure of trade between China and the Belt and Road (B&R) countries and its implications for RMB internationalization 7 One Belt One Road Initiative and China’s overseas direct investment 8 The new dynamics of multilateral cooperation mechanisms in East Asia—China’s Belt and Road Initiative, the Asian Infrastructure Investment Bank, and Japan’s partnership for quality infrastructure SECTION III: The impact of the BRI on regional cooperation 9 The Belt and Road Initiative: a hybrid model of regionalism 10 Bridging westward to open the gates of Europe: implementation of the Belt and Road Initiative in Central Asia and Belarus 11 New political cartography of Eurasia: China’s Belt and Road Initiative—The Eurasian Economic Union—India’s New Silk Road 12 “Belt and Road Initiative” and the new China-EU relations 13 International relations and New Silk Road-BRI: European Union and China crucial roles Index China’s New Silk Road initiative is one of the most ambitious projects in recent decades designed to change the pattern of the global economic division of labour and the geostrategic balance of power. This book brings together leading scholars from economics, politicals and area studies, who discuss how the new initiative is developing.