Rise of China and The Belt Road Initiative

Abstract

BOOK OVERVIEW Chapter 1. Belt and Road Initiative: Globalization with Chinese Characteristics or the Revival of Historical Silk Road? Abstract In this chapter, we present and discuss different views on Belt and Road Initiative. Positive approaches view it as a tool for economic development and poverty reduction, while negative views consider it as a version of Chinese colonialism. Its sheer size points out even a grander project behind it which is called as ‘Pax Sinica’ replacing ‘Pax Americana’ as the new global world order. The views of various countries on BRI do differ as well. While some countries can be called as BRI-negative or BRI-averse others are more open to the related projects. There are also different positions about BRI within each country. To add even more complications, China is far from a uniform and completely coordinated actor in BRI. Negative views revolve on debt traps, securitization/militarization and environmental impacts. Each of these are briefly discussed in this chapter. We conclude that neither negative nor positive views are completely correct. BRI will have both advantages (especially for landlocked countries in the nearby region) and disadvantages. Although the initial model is the historical Silk Road, BRI’s effects will be more extensive and influential.