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.
Introduction: The Belt & Road Initiative - Manifestations, Driving Forces and International Responses - Yuan Li & Markus Taube, Section I. The logic of the BRI and its domestic economic impacts, 1. China’s rejuvenation and the Belt and Road Initiative - Justin Yifu Lin, 2. Motivations, actors, and implications for the New Silk Road trains - Mario Esteban & Yuan Li, 3. Can the Belt and Road Initiative promote the catching-up of China's West and South-West? - Giovanni Ferri, Li-Gang Liu, Camilla Mastromarco & Laura Serlenga, 4. "The Belt and Road" Initiative will promote economic cooperation between China and Western countries - Chen Yongjun, Section II. BRI and it impact on the structure of global economic interaction, 5. AIIB and the reform of international financial system - Xun Wang, 6. Commodity structure of trade between China and the B&R countries and its implications for RMB internationalization - Yibing Ding, Qianwen Shen & Xiao Li, 7. One Belt One Road Initiative and China’s Overseas Direct Investment - Julan Du & Yifei Zhang, 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 - Werner Pascha, Section III. The impact of the BRI on regional cooperation, 9. The Belt and Road Initiative: A hybrid model of regionalism - Andreas Grimmel & Yuan Li, 10. Bridging westward to open the gates of Europe. Implementation of the Belt and Road Initiative in Central Asia and Belarus - Maria Danilovich, 11. New Political cartography of Eurasia: China's Belt and Road-Initiative—The Eurasian Economic Union—India's New Silk Road - Nele Nösselt, 12. "Belt and Road Initiative" and the new China-EU relations - Xieshu Wang, Joël Ruet & Xavier Richet, 13. International relations and New Silk Road-BRI. European Union and China crucial roles - Giorgio Dominese