The Belt and Road Initiative Economic Paradigm: Double Circulation of Global Value Chain

As China unfolds a new economic and foreign policy with its neighbors by promoting the ‘Belt and Road’ initiative (BRI), the revival of the ‘Silk Route Spirit’ that integrated regions economically and culturally seems imminent. India and China were at the Centre of civilizational and global rebalancing during ancient times; can they come together yet again after the centuries of Western dominance? The connectivity initiatives whether from China or India, no matter how grandiose or miniscule they are, could be considered parts of the globalization processes that would immensely benefit countries and regions? The symbiosis or metamorphosis of these processes is extremely important if the dividends of the globalization are to be achieved and shared. I argue that the BRI which is a re-globalization drive from the orient needs to dock itself with other similar yet smaller processes initiated by other countries and regions for example the ‘Sagarmala’ and ‘Bharatmala’ of India; Eurasian Economic Union of Russia etc. The metamorphosis into each other’s initiative may lead the BRI to success. India, needs to be an insider rather than an outsider of this value chain. It holds that the cooperation entails deeper integration among countries concerned, and will open vistas of opportunities in many diversified areas including trade, transport, tourism, as well as cooperation in traditional and non-tradition security.

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The Belt and Road Initiative and Sino-Russian economic cooperation: Is there one more chance for us?

Voprosy Ekonomiki ◽

10.32609/0042-8736-2019-12-47-71 ◽

2019 ◽

pp. 47-71

Author(s):

Petr M. Mozias

Keyword(s):

Regional Integration ◽

Raw Materials ◽

Belt And Road Initiative ◽

Stage Of Development ◽

Belt And Road ◽

Flexible Framework ◽

The One ◽

International Transactions ◽

The Belt And Road ◽

Current Stage

China’s Belt and Road Initiative could be treated ambiguously. On the one hand, it is intended to transform the newly acquired economic potential of that country into its higher status in the world. China invites a lot of nations to build up gigantic transit corridors by joint efforts, and doing so it applies productively its capital and technologies. International transactions in RMB are also being expanded. But, on the other hand, the Belt and Road Initiative is also a necessity for China to cope with some evident problems of its current stage of development, such as industrial overcapacity, overdependence on imports of raw materials from a narrow circle of countries, and a subordinate status in global value chains. For Russia participation in the Belt and Road Initiative may be fruitful, since the very character of that project provides us with a space to manoeuvre. By now, Russian exports to China consist primarily of fuels and other commodities. More active industrial policy is needed to correct this situation . A flexible framework of the Belt and Road Initiative is more suitable for this objective to be achieved, rather than traditional forms of regional integration, such as a free trade zone.

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Belt and Road Initiative: Analysis of Possible Effects on Nigeria’s Economy

International Journal of Contemporary Research and Review ◽

10.15520/ijcrr/2018/9/06/536 ◽

2018 ◽

Vol 9 (06) ◽

pp. 20475-20182

Author(s):

Ige Ayokunle O ◽

Akingbesote A.O

Keyword(s):

Economic Growth ◽

International Economic ◽

International Cooperation ◽

Economic Cooperation ◽

Belt And Road Initiative ◽

International Economic Cooperation ◽

R Project ◽

Belt And Road ◽

The Relationship ◽

The Belt And Road

The Belt and Road initiative is an important attempt by China to sustain its economic growth, by exploring new forms of international economic cooperation with new partners. Even though the B&R project is not the first attempt at international cooperation, it is considered as the best as it is open in nature and does not exclude interested countries. This review raised and answered three questions of how the B&R project will affect Nigeria’s economy? How will it affect the relationship between Nigeria and China? What could go wrong?, The review concluded that Nigeria can only benefit positively from the project.

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The Belt and Road Initiative: Goals and Challenges

Tikrit Journal For Political Science ◽

10.25130/poltic.v0i19.216 ◽

2020 ◽

pp. 167

Author(s):

Adnan Khalaf i Hammed Al-Badrani ◽

Hind Ziyad Nafeih

Keyword(s):

Development Strategy ◽

Soft Power ◽

Oil And Gas ◽

Power Lines ◽

Belt And Road Initiative ◽

Belt And Road ◽

Ancient Silk Road ◽

Main Engine ◽

The Belt And Road

The Belt and Road Initiative is an initiative to revive the ancient Silk Road, through networks of land and sea roads, oil and gas pipelines, electric power lines, the Internet and airports, to create a model of regional and international cooperation. It is essentially a long-term development strategy, launched by the Chinese president in 2013 to become the main engine of Chinese domestic policy and foreign diplomacy and within the framework of the soft power strategy, to enhance its position and influence in the world as a peaceful and responsible country. The study includes identifying the initiative and setting goals for China, as well as the challenges and difficulties that hinder the initiative.

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