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China's Belt and Road Initiative and its Implications for Global Development
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Type
Academic journal
Author
MICHAEL DUNFORD (Chinese Academy of Sciences)
Journal
계명대학교 실크로드연구원 Acta Via Serica Vol.6 No.1 KCI Candidated Journals
Published
2021.6
Pages
91 - 117 (27page)

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China's Belt and Road Initiative and its Implications for Global Development
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China’s Belt and Road Initiative (BRI) is China’s contribution to the need for the world to collectively address deficits of peace, development, governance, and problems relating to climate, the environment and human health. The rise of China and the BRI do challenge the current ‘rules-based global order’ and the economic dominance and moral, political, economic, and cultural leadership of the United States and its allies. However, China’s goal is not hegemony but a multipolar world in which common values coexist with principles of peaceful coexistence (including non-interference in the internal affairs of sovereign states). The evolution of the BRI is outlined, and the ways in which it reflects Chinese interests are summarized, including its roles in addressing natural resource dependence and excess capacity, a transition from investment promotion and factor-intensive growth to going out and industrial upgrading, going West, and the effective deployment of China’s foreign exchange assets. Although China does therefore potentially gain, the BRI is designed so that partners also gain in a quest for win-win co-operation and mutual benefit. The values that underlie this approach and the call for a community with a shared future are compared with competing western values, whose roots lie in Enlightenment thought and are associated with a record of colonialism and imperialism. In this light, the article concludes with a consideration of the global implications of the BRI, the challenges it confronts and the likelihood that the unipolar moment will give way to a multipolar global development path.
#Belt and Road Initiative #peaceful coexistence #win-win cooperation #morality and interests #unipolar order #multipolar world

Contents

China’s Belt and Road Initiative and its Implications for Global Development
On the Surface: The Evolution of the BRI
Controversies: China’s Rise, Perceptions of Strategic Rivalry and Competing Values
The BRI and China’s Interests
Conclusions
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