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

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.

Corporate responsibility and biodiversity conservation: challenges and opportunities for companies participating in China’s Belt and Road Initiative

Summary China’s Belt and Road Initiative (BRI), designed to build critical infrastructure and coordinate economic growth, is the most significant development initiative in modern history. The BRI has a documented vision for sustainability, including environmental impact assessments and responsibility tenets. Despite this, a growing body of literature has found adverse effects of BRI projects on protected land and species. To understand corporate responsibility and regulations for companies participating in the BRI, we gathered information on 260 BRI companies using the Refinitiv Eikon BRI Connect database and the China Global Investment Tracker. The results revealed a significant gap in corporate responsibility reporting for biodiversity impacts, environmental restoration, environmental project financing and the United Nations’ Sustainable Development Goals (SDG) 14 ‘Life below Water’ and 15 ‘Life on Land’. The modest fraction of companies that we found to report biodiversity accountability highlights the need to restructure and incentivize the reporting of environmental and biodiversity risks. The current evidence of limited adherence to responsibility measures highlights a clear opportunity to align BRI development with the BRI’s vision for sustainability, and to strengthen links for policy engagement within Chinese regulatory frameworks and international obligations at the United Nations within its SDG framework.

The Road and Belt Initiative in Malaysia: Challenges and Recommendations

ABSTRACT In recent years, China has expanded its relations with other nations through the Belt and Road Initiative. This initiative was formally introduced after it was launched in 2013 by President Xi Jinping. It comprises two components, namely, the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative, both of which aim to stimulate the acceleration of economic growth in Asia, Africa and Europe. This research attempts to provide a detailed review of the execution of this initiative through empirical studies based on qualitative analysis, which are closely related to BRI implementation in Malaysia. The focus of this research, however, is not limited to studying the viewpoints of leaders and scholars on the initiative; rather, it will also attempt to discuss theBRI’s progress and the obstacles encountered to date from the political aspects of both China and Malaysia. By identifying the potential challenges to come, this research will prove to be significant, as it proposes some comprehensive measures to address and forestall any setbacks that may arise, which may affect the implementation of the BRI between the two nations. Keywords: Belt and Road Initiative (BRI); Malaysia–China relations; Silk Road; China–ASEAN relations; Maritime Silk Road A