Energy Cooperation Under the Belt and Road Initiative: Implications for Global Energy Governance

2019 ◽  
Vol 20 (2-3) ◽  
pp. 243-258 ◽  
Author(s):  
Kaho Yu
Keyword(s):  
Large Scale ◽  
Belt And Road Initiative ◽  
Global Energy ◽  
Energy Cooperation ◽  
Investment Protection ◽  
Multilateral Cooperation ◽  
Development Framework ◽  
Energy Governance ◽  
Belt And Road ◽  
The Belt And Road

Abstract This article discusses the implications of the Belt and Road Initiative (BRI) on energy cooperation between China and other Eurasian countries and their ramifications for global energy governance. As a development framework with strong geopolitical and geo-economical dimensions, the BRI aims to promote interconnectivity and cooperation in the areas of infrastructure, policy, trade, finance, and culture between Eurasian countries. The implementation of the BRI is expected to involve large-scale investment, infrastructural construction, and industrial integration in the energy sector. The need for investment protection and the management of transnational projects can further promote multilateral cooperation (and therefore multilateral institutions) between China and its Eurasian neighbours. This article demonstrates that, although the attitudes of the Chinese authorities towards global energy governance are complex, the BRI could change China’s energy cooperation in Eurasia into more of a regional and multilateral engagement strategy than is currently the case.

scholarly journals Cooperation between China and Central and Eastern European states within the framework of the Belt and Road Initiative and the ‘17+1’ mechanism

2021 ◽  
Vol 14 (2) ◽  
pp. 241-253
Author(s):  
Sergey Yun ◽  
◽  
Vitaly Pakulin ◽  
Keyword(s):  
Large Scale ◽  
European Countries ◽  
Infrastructure Development ◽  
Belt And Road Initiative ◽  
Main Hypothesis ◽  
Trade Routes ◽  
Multilateral Cooperation ◽  
Cooperation Mechanism ◽  
Belt And Road ◽  
The Belt And Road

The Belt and Road initiative (BRI) is a large-scale geo-economic project which is an integral part of China’s contemporary foreign policy. The foundation of this project is the vast network of trade and transport communications by land and sea that encompasses countries of the Eurasian continent as well as Africa. The European destination is a key link of the project: most of the transit ways of the BRI lead to the EU and European countries. The Central and Eastern Europe region (CEE) occupies a special place in China’s strategy of the implementation of the Belt and Road initiative: the countries of this region are located on the main trade routes from China to the most developed European countries. Moreover, the CEE countries are in dire need of investment and infrastructure development. In 2012 China launched a multilateral cooperation mechanism with 16 CEE countries (in 2019 the number of participants increased to 17 due to the accession of Greece). This article aims at analyzing the structure and functioning of the mechanism, key areas of activity within the framework of the Belt and Road initiative, and the problems and prospects of cooperation between China and the CEE countries. The main hypothesis of the work is that China uses the ‘17 + 1’ mechanism as a tool for establishing bilateral cooperation with selected countries of the region. Such an approach evokes criticism from the CEE states, as well as EU institutions. The current situation shows that China needs to make adjustments to its strategy for the implementation of the BRI initiative in the region. The authors used legislation and materials from official websites of EU institutions, China and the CEE countries’ government agencies, statistical data and analytical papers by international organizations, as well as material from news agencies.

scholarly journals China’s Belt and Road Initiative and large-scale outbound investment

2018 ◽  
Vol 1 (2) ◽  
pp. 219-240 ◽  
Author(s):  
Shen Kunrong ◽  
Jin Gang
Keyword(s):  
Large Scale ◽  
Belt And Road Initiative ◽  
Chinese Enterprises ◽  
Content Type ◽  
Cultural Exchanges ◽  
Institutional Differences ◽  
Belt And Road ◽  
The Impact ◽  
Enterprise Investment ◽  
The Belt And Road

Purpose The purpose of this paper is to comprehensively examine the influence of formal and informal institutional differences on enterprise investment margin, mode and result. Design/methodology/approach This paper is based on 2,440 micro samples of large-scale outbound investment from 609 Chinese enterprises from the years 2005 to 2016. Findings The study has found that formal institutional differences have little impact on investment scale, but significantly affect investment diversification. In order to avoid the management risks brought by formal institutional differences, enterprises tend to a full ownership structure. However, the choice between greenfield investment and cross-border mergers and acquisitions is not affected by formal institutional differences. In contrast, the impact of informal institutional differences is more extensive. Both formal and informal institutional differences significantly increase the probability of investment failure. Further research found that the Belt and Road Initiative (BRI) bridges the formal institutional differences. Originality/value The study concludes that developing the BRI, especially cultural exchanges with countries alongside the Belt and Road, will help enterprises to “go global” faster and better.

Between Scylla and Charybdis? Emerging New Malaysia and Its Enigmatic Relations with China

2020 ◽  
Vol 7 (2) ◽  
pp. 209-235
Author(s):  
Emile Kok-Kheng Yeoh
Keyword(s):  
Southeast Asia ◽  
Large Scale ◽  
East Coast ◽  
Prime Minister ◽  
Belt And Road Initiative ◽  
National Front ◽  
Chinese Investment ◽  
General Elections ◽  
Belt And Road ◽  
The Belt And Road

Abstract This article traces the evolution of China-Malaysia relations under National Front Prime Minister Najib Razak and the Alliance of Hope Prime Minister Mahathir Mohamad. While the Belt and Road Initiative (bri) strengthened Beijing’s support of Najib’s kleptocratic regime in Malaysia, the 2018 general elections brought the anti-graft Alliance of Hope coalition led by Mahathir into power. Under Mahathir’s leadership, Malaysia cancelled several large-scale infrastructural projects like the East Coast Rail Link (ecrl), owing to their links with Najib’s 1mdb scandal and the unfavorable terms of the bri which put Malaysia severely in China’s debt. Although this curtailed Beijing’s use of Malaysia as a pawn in its goals in the region, it alienated some of the new Alliance of Hope’s supporters and saw the loss of much Chinese investment. However, Malaysia had already been caught in the bri’s web and Mahathir had to mend fences with Beijing by renegotiating better deals and redefining Malaysia’s relations with China. As Malaysia is geopolitically strategic to China’s extension of influence in Southeast Asia, Beijing willingly cut the ecrl cost by a third. It is in such context and with due consideration of the changing developments in the Alliance of Hope’s perception of Malaysia’s relations with China that this article will explore the enigmatic nature of China-Malaysia relations as the latter strives to protect its sovereignty against Chinese influence and Beijing continues to press its charm offensive through the bri.

Arbitration of Energy Disputes Under the Energy Charter Treaty: Added Value for the Belt and Road Initiative

2019 ◽  
Vol 20 (2-3) ◽  
pp. 285-312 ◽  
Author(s):  
Kaj Hobér
Keyword(s):  
Dispute Settlement ◽  
Added Value ◽  
Belt And Road Initiative ◽  
Investment Protection ◽  
Central Asian ◽  
Energy Charter Treaty ◽  
Silk Road Economic Belt ◽  
Belt And Road ◽  
Definition Of ◽  
The Belt And Road

Abstract One of the objectives underlying the Belt and Road Initiative is to improve energy co-operation in areas such as energy infrastructure and exploration and development of energy resources. Most Central Asian States are situated along the Silk Road Economic Belt. At the same time those States are members of the Energy Charter Treaty. This treaty provides a multilateral framework for co-operation and investment protection in the energy sector. This contribution explores three aspects of the ECT (definition of investment and investor, dispute settlement and ECT jurisprudence, and energy transit) which could facilitate for China to achieve its energy objectives within the Belt and Road Initiative, were China to become a member of the ECT.

scholarly journals Impact of the Belt and Road Initiative on World Politics and Economy

2021 ◽  
Vol 4 (2) ◽  
pp. 96-103
Author(s):  
Sheriff G.I. ◽  
Thomas A. ◽  
Ahmet A.
Keyword(s):  
Economic Development ◽  
Large Scale ◽  
Financial Integration ◽  
Methodological Approach ◽  
Secondary Data ◽  
World Politics ◽  
Chinese Government ◽  
Belt And Road Initiative ◽  
Belt And Road ◽  
The Belt And Road

This paper aims at focusing on the main impact of the China belt and road initiative on world politics and economic development. Given that the BRI is a foreign policy launched by the Chinese government under the leadership of President Xi, and this time on a large scale with a plethora of impacts designed to build a network of mutually benefiting economic activities among the China neighbours across the Eurasian continent and the maritime routes between China and Europe, with plans to extend to Africa. The collaborative efforts of this initiative would expand global trade and increase economic development among the countries within the One Belt, One Road area. The initiative also presents scepticisms, uncertainties and concerns among political elites, offering observers the outlook of the advantage the initiative offers the Chinese at the expense of developing countries. The paper uses the secondary data methodological approach in presenting its reviewed literature. The paper adopts the theories of geopolitics that explain the political power linked to geographical space that comprises water and land as its territories. The objective of the Belt and Road Initiative is to enhance the connectivity of infrastructure, trade liberalization, and global financial integration. The article investigates the development of the project from global political, geographical, economical and international relations perspectives.

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