scholarly journals Assessment and influencing factors analysis of economic system vulnerability of the Belt and Road Initiative countries

PLoS ONE ◽  
2022 ◽  
Vol 17 (1) ◽  
pp. e0262611
Author(s):  
Zhihui Li ◽  
Jia Wu ◽  
Xiaolin Cui ◽  
Zhaojuan Mi ◽  
Lu Peng
Keyword(s):  
Spatial Distribution ◽  
East Asia ◽  
South Asia ◽  
Economic System ◽  
Central Asia ◽  
Financial System ◽  
Belt And Road Initiative ◽  
System Vulnerability ◽  
Belt And Road ◽  
The Belt And Road

Economic vulnerability is an important indicator to measure regional coordination, health and stability. Despite the importance of vulnerabilities, this is the first study that presents 26 indicators selected from the dimensions of the domestic economic system, external economic system and financial system in the Belt and Road Initiative (BRI) countries. A quantitative analysis is conducted to analyze the characteristics of spatial heterogeneity of vulnerability of the economic subsystems and the comprehensive economic system of the BRI countries and the main influencing factors of the comprehensive economic system vulnerability (CESV) are identified based on obstacle degree model. The results show that the CESV of the East Asia, South Asia and ASEAN countries are lower than that of the Middle Eastern Europe, Central Asia and West Asia countries. The CESV of the BRI countries are generally in the middle level and the average vulnerability index of highly vulnerable countries is twice as much as that of lowly vulnerable countries. In addition, in terms of the vulnerability of the three subsystems, the spatial distribution of vulnerability of the domestic economic system (DESV) and financial system (FSV) is basically consistent with the spatial distribution pattern of CESV, both of which are low in East Asia and South Asia and high in West Asia and Central Asia. While, the vulnerability of external economic system (EESV) shows a different spatial pattern, with vulnerability of West Asia, Central Asia and ASEAN higher than that of East Asia and South Asia. The main obstacle factors influencing the CESV of BRI countries include GDP growth rate, saving ratio, ratio of bank capital to assets, service industry level, industrialization level and loan rate. Therefore, the key way to maintain the stability and mitigate the vulnerability of the economic system of BRI countries is to focus on the macroeconomic development and operation, stimulate the economy and market vitality, promote the development of industries, especially the service and secondary industries, and optimize the economic structure, banking system and financial system.

scholarly journals The Belt and Road Initiative and the Eurasian Economic Union: Exploring the “Greater Eurasian Partnership”

2020 ◽  
Vol 49 (1) ◽  
pp. 33-57
Author(s):  
Gaziza Shakhanova ◽  
Jeremy Garlick
Keyword(s):  
Central Asia ◽  
Belt And Road Initiative ◽  
Local Elites ◽  
Eurasian Economic Union ◽  
Economic Commission ◽  
Silk Road Economic Belt ◽  
Belt And Road ◽  
Economic Union ◽  
The Belt And Road ◽  
The Silk Road

The Russian-led Eurasian Economic Union (EAEU) is a key partner in China’s Belt, and Road Initiative (BRI), since it comprises the majority of territories which the BRI’s overland route, the Silk Road Economic Belt, needs to traverse as it crosses Central Asia on the way to Europe. The goal of this article is to explore the BRI in the context of BRI–EAEU coordination. The first part of the analysis focusses on the ways the Eurasian Economic Commission delineates the “Greater Eurasian Partnership” and counterposes it against China and the BRI. Then, the article compares two sets of interpretations of the BRI and “Greater Eurasian Partnership” obtained from interviews with elites in Kazakhstan and Russia. The interviews indicate that the BRI has had a much more forceful impact on local elites than Russia’s idea of “Greater Eurasian Partnership.”

scholarly journals Central Asia as an area of China’s and Russia’s interests

2019 ◽  
Vol 27 (4) ◽  
pp. 732-742
Author(s):  
Elena A. Egorycheva
Keyword(s):  
Central Asia ◽  
Belt And Road Initiative ◽  
Scientific Cooperation ◽  
Investment Projects ◽  
Global Issues ◽  
Trade Relations ◽  
Eurasian Economic Union ◽  
Belt And Road ◽  
Economic Union ◽  
The Belt And Road

Over the past decades, Russia and China have been steadily deepening their cooperation. It is seen in many fields: mutual trade agreements, investment and scientific cooperation, ecological and environment solutions to global issues. Russia is actively engaged in the Belt and Road Initiative proposed by China. Kazakhstan, Turkmenistan, Uzbekistan, Tajikistan, and Kyrgyzstan are engaged in it as well. Some of them are also members of the Eurasian Economic Union. The paper aimed to identify China’s and Russia’s current interests in these countries, as Central Asia (CA) is the area where Russia’s and China’s interests coincide. Trade relations between the analyzed countries are considered in it. The paper also addresses investment projects under Belt and Road Initiative, which China has been financing in CA countries.

scholarly journals Understanding the Belt and Road Initiative

2019 ◽  
Vol 2 (1) ◽  
pp. 103-117
Author(s):  
Dinesh Bhattarai
Keyword(s):  
South Asia ◽  
International Standards ◽  
Infrastructure Development ◽  
Belt And Road Initiative ◽  
Framework Agreement ◽  
Maritime Silk Road ◽  
Belt And Road ◽  
Work Done ◽  
Trade And Investment ◽  
The Belt And Road

China’s project of the century- Belt and Road Initiative - is a signature foreign policy project of President Xi Jinping. Launched in 2013, BRI contains two components- overland belt connecting China with Central Asia, Russia, South Asia and Europe, and Maritime Silk Road for enhancing connectivity, and maritime cooperation linking Chinese ports with Southeast Asia, South Asia, Africa, the Middle East and Europe. BRI wraps up these two initiatives in it and intends to cover the number of countries along the route that happens to be the biggest market in the world with enormous potentials for trade and investment cooperation. BRI has both economic and strategic messages behind a massive infrastructure plan covering a vast network of connectivity linking 60 countries. BRI has sparked a variety of responses, some welcoming and supporting it, some expressing reservations, some willing to participate “for shaping the outcome from within”, and some wanting it to firmly match the international standards of transparency, openness, and the fiscal soundness of the country. Nepal formally became a part of BRI by signing a Memorandum of Understanding on Framework Agreement in May 2017 for enhancing more connectivity and integration, though Nepal is not included in any of the six economic corridors unveiled by China. China recently suggesting Nepal to trim projects from 35 to 9 reflects the standard of the work done by the Nepali government and its lack of preparedness and seriousness. Infrastructure development is key to progress and prosperity. As China remains engaged in improving connectivity in the neighborhood, there is a great optimism about BRI in Nepal. Against this background, this article looks at the significance of BRI, examines past attempts made at connectivity, responses to BRI and Nepal's participation in it.

The Belt and Road Initiative: Implications for China and East Asian Economies

2018 ◽  
Vol 35 (2) ◽  
pp. 52-78 ◽  
Author(s):  
SARAH CHAN
Keyword(s):  
East Asia ◽  
Trade Flows ◽  
Belt And Road Initiative ◽  
Development Bank ◽  
Belt And Road ◽  
Funding Support ◽  
To Come ◽  
East Asian Economies ◽  
China Development ◽  
The Belt And Road

The China-led Belt and Road Initiative (BRI) is set to become a formidabledevelopment programme and its implications will be far reaching for East Asia, including ASEAN and China. It will provide further momentum for intra-Asian investment and trade flows and the implementation of such a strategy will also help to accelerate China's mergers and acquisitions activities in infrastructure, logistics and tourism. The BRI is expected to raise the Renminbi's international use in trade settlement and financing. A considerable amount of financing is estimated to come from Chinese institutions, particularly policy banks such as China Development Bank and a range of government-linked institutions. This article discusses China's funding support and investment to improve regional connectivity and analyses the repercussions of China's financial commitments under the Belt and Road Initiative for East Asia as well as its own economy.

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