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Author: Harshal Zalke Publisher: ISBN: Category : Languages : en Pages : 114
Book Description
Chinese Outward Foreign Direct Investment (OFDI) has traditionally been attracted to countries with high political risks – a worrying trend as this exposes the investments to additional risks such as economic default on loans and ensuing socioeconomic instability (Drezner 2019). In the context of the Belt and Road Initiative (BRI), this is of significant concern because of the large amounts of Chinese FDI that flow through the BRI. Yet what do we actually know about political risk considerations in Chinese Outward Foreign Direct Investment (OFDI) with respect to the Belt and Road Initiative (BRI)? Over the years, academic research has tried to understand the determinants of Chinese Outward Investments - a key instrument in the economic rise of China (Du & Zhang, 2018). Early data on Chinese foreign investment behavior prior to the initiation of the BRI suggests that Chinese firms were highly acceptant of political risks compared to non-Chinese firms (Buckley 2007; Kolstad and Wiig 2012). Chinese firms invested heavily in countries at significant risk of political and economic instability, largely due to the moral hazards stemming from soft budget constraints affecting the state-owned enterprises (SOEs) in China’s command economy (Kornai 1980; Li and Liang 1998). Does this trend hold today in regard to Chinese firms’ investment behavior in the context of the major expansion in Chinese OFDI under the Belt and Road Initiative? What is the empirical evidence to support or challenge the assertions that the Belt and Road Initiative will incentivize Chinese ODFI to behave more like non-Chinese standard firms? In this report, I examine the empirical claims regarding Chinese OFDI political risk behavior. Using the ICRG Political Risk Index and the Chinese Global Investment Tracker for the period 2005 - 2017, I run a panel data regression to investigate how host country political risk affects the flows of Chinese OFDI. The results of the statistical analysis, when analyzed through existing theoretical frameworks, indicate that Chinese OFDI is far less political risk acceptance than previously thought. This suggests that prevailing concerns about Chinese OFDI under the Belt and Road Initiative are not as well-founded as previously thought
Author: Harshal Zalke Publisher: ISBN: Category : Languages : en Pages : 114
Book Description
Chinese Outward Foreign Direct Investment (OFDI) has traditionally been attracted to countries with high political risks – a worrying trend as this exposes the investments to additional risks such as economic default on loans and ensuing socioeconomic instability (Drezner 2019). In the context of the Belt and Road Initiative (BRI), this is of significant concern because of the large amounts of Chinese FDI that flow through the BRI. Yet what do we actually know about political risk considerations in Chinese Outward Foreign Direct Investment (OFDI) with respect to the Belt and Road Initiative (BRI)? Over the years, academic research has tried to understand the determinants of Chinese Outward Investments - a key instrument in the economic rise of China (Du & Zhang, 2018). Early data on Chinese foreign investment behavior prior to the initiation of the BRI suggests that Chinese firms were highly acceptant of political risks compared to non-Chinese firms (Buckley 2007; Kolstad and Wiig 2012). Chinese firms invested heavily in countries at significant risk of political and economic instability, largely due to the moral hazards stemming from soft budget constraints affecting the state-owned enterprises (SOEs) in China’s command economy (Kornai 1980; Li and Liang 1998). Does this trend hold today in regard to Chinese firms’ investment behavior in the context of the major expansion in Chinese OFDI under the Belt and Road Initiative? What is the empirical evidence to support or challenge the assertions that the Belt and Road Initiative will incentivize Chinese ODFI to behave more like non-Chinese standard firms? In this report, I examine the empirical claims regarding Chinese OFDI political risk behavior. Using the ICRG Political Risk Index and the Chinese Global Investment Tracker for the period 2005 - 2017, I run a panel data regression to investigate how host country political risk affects the flows of Chinese OFDI. The results of the statistical analysis, when analyzed through existing theoretical frameworks, indicate that Chinese OFDI is far less political risk acceptance than previously thought. This suggests that prevailing concerns about Chinese OFDI under the Belt and Road Initiative are not as well-founded as previously thought
Author: Jennifer Hillman Publisher: Council on Foreign Relations Press ISBN: 9780876098004 Category : Languages : en Pages : 190
Book Description
China's massive, globe-spanning Belt and Road Initiative (BRI) seeks to build everything from railways, ports, and power plants to telecommunications infrastructure and fiber-optic cables. Chinese President Xi Jinping's signature foreign policy endeavor, BRI has the potential to meet developing countries' needs and spur economic growth, but its implementation creates risks that outweigh its benefits. Unless the United States offers an effective alternative, China could reorient global trade networks, set technical standards that would disadvantage non-Chinese companies, lock countries into carbon-intensive power generation, increase its political influence over countries, and acquire power projection capabilities for its military. The COVID-19 pandemic has made a U.S. response more urgent as the global economic contraction has accelerated the reckoning with BRI-related debt. China's Belt and Road: Implications for the United States proposes that the United States respond to BRI by putting forward an affirmative agenda of its own, drawing on its strengths and coordinating with allies and partners to promote sustainable, secure, and green development.
Author: Nadáege Rolland Publisher: ISBN: 9781939131515 Category : China Languages : en Pages : 195
Book Description
China's Belt and Road Initiative has become the organizing foreign policy concept of the Xi Jinping era. The 21st-century version of the Silk Road will take shape around a vast network of transportation, energy, and telecommunication infrastructure linking Europe and Africa to Asia. Drawing from the work of Chinese official and analytic communities, China's Eurasian Century? Political and Strategic Implications of the Belt and Road Initiative examines the concept's origins, drivers, and various component parts, as well as China's domestic and international objectives. Nadáege Rolland shows how the Belt and Road Initiative reflects Beijing's desire to shape Eurasia according to its own worldview and unique characteristics. More than a list of revamped infrastructure projects, the initiative is a grand strategy that serves China's vision for itself as the preponderant power in Eurasia and a global power second to none.
Author: Joel Wuthnow Publisher: Createspace Independent Publishing Platform ISBN: 9781978092525 Category : China Languages : en Pages : 56
Book Description
One of Chinese president Xi Jinping's signature foreign policy programs is the Belt and Road Initiative (BRI), a web of infrastructure development plans designed to increase Eurasian economic integration. Chinese official rhetoric on the BRI focuses on its economic promise and progress, often in altruistic terms: all countries have been invited to board this "express train" to wealth and prosperity. Missing from the rhetoric is much discussion of the initiative's security dimensions and implications. Chinese officials avoid describing the strategic benefits they think the BRI could produce, while also gliding over major security risks and concerns. Yet at the unofficial level, China's security community has paid close attention to these issues, probing in great depth the gains Beijing can expect, the challenges it will face, and the new demands it will have to satisfy. Understanding those Chinese assessments is helpful as the United States considers how, when, and in what capacity to engage the BRI.
Author: World Bank Publisher: World Bank Publications ISBN: 1464814651 Category : Business & Economics Languages : en Pages : 199
Book Description
China proposed the Belt and Road Initiative in 2013 to improve connectivity and cooperation on a transcontinental scale. This study, by a team of World Bank Group economists led by Michele Ruta, analyzes the economics of the initiative. It assesses the connectivity gaps between economies along the initiative’s corridors, examines the costs and economic effects of the infrastructure improvements proposed under the initiative, and identifies complementary policy reforms and institutions that will support welfare maximization and mitigation of risks for participating economies.
Author: Alessia Amighini (a cura di) Publisher: Edizioni Epoké ISBN: 8899647631 Category : Political Science Languages : en Pages : 110
Book Description
Officially announced by Xi Jinping in 2013, the Belt and Road Initiative (BRI) has since become the centrepiece of China’s economic diplomacy. It is a commitment to ease bottlenecks to Eurasian trade by improving and building networks of connectivity across Central and Western Asia, where the BRI aims to act as a bond for the projects of regional cooperation and integration already in progress in Southern Asia. But it also reaches out to the Middle East as well as East and North Africa, a truly strategic area where the Belt joins the Road. Europe, the end-point of the New Silk Roads, both by land and by sea, is the ultimate geographic destination and political partner in the BRI. This report provides an in-depth analysis of the BRI, its logic, rationale and implications for international economic and political relations.
Author: Moritz Rudolf Publisher: World Scientific ISBN: 981123857X Category : Political Science Languages : en Pages : 525
Book Description
This book showcases how the People's Republic of China (PRC) has been utilizing the Belt and Road Initiative (BRI) to reshape the global order. Dissecting China's increasingly assertive international behaviour, the book demonstrates how the PRC projects its self-perception onto the international order. The book outlines five aspects of China's international role projection, which the PRC applies selectively, depending on its target audience: (1) The bearer of traditional Chinese culture; (2) The humiliated nation; (3) The socialist state with Chinese characteristics; (4) The developing state and promoter of international development; (5) The authoritarian globalization optimist.Drawing on an in-depth analysis of hundreds of primary BRI documents, the book offers a comprehensive overview of China's most crucial foreign policy agenda item. It demonstrates how, through the BRI, the PRC has introduced mechanisms to the international level, which reflect its domestic policy-making mode. In addition, the PRC has institutionalized the initiative by establishing China-centered BRI networks across a wide range of policy areas. Within those emerging China-centered BRI networks, the PRC systematically increases its international discursive power, for example, by inserting Chinese vocabulary into UN resolutions or by promoting Beijing's approaches vis-à-vis 'the rule of law' across a range of developing states. This book also further discusses the implications of the BRI for the international legal order.
Author: Chinyong Liow, Joseph Publisher: Edward Elgar Publishing ISBN: 178990871X Category : Political Science Languages : en Pages : 488
Book Description
This timely Research Handbook investigates the radically transformative impact of the Belt and Road Initiative (BRI), addressing key questions regarding its economic, political and strategic consequences: what does the Chinese government hope to achieve with the BRI? How have recipient states responded? And what are its potential opportunities and risks?
Author: Jeremy Garlick Publisher: Routledge ISBN: 1351182749 Category : Political Science Languages : en Pages : 216
Book Description
This book merges macro- and micro-level analysis of the Belt and Road Initiative (BRI) to dissect China’s aim in creating an integrated Eurasian continent through this single mega-project. BRI has been the source of much interest and confusion, as established frameworks of analysis seek to understand China’s intentions behind the policy. China’s international activity in the early 21st century has not yet been successfully theorised by IR scholars because of a failure to satisfactorily encompass its complexity. In addition, the mix-and-match syncretism of the Chinese approach to foreign policy has been under-emphasised or omitted in many analyses. Bringing together complexity thinking and analytic eclecticism to assess the degree to which this scheme can transform international relations, Garlick critically examines this large-scale interconnectivity project and its potential impacts. The book will be of interest to scholars and practitioners in the field of international relations and China studies including academics, policy-makers and diplomats around the world.
Author: Alessandro Arduino Publisher: Springer ISBN: 9811071160 Category : Political Science Languages : en Pages : 311
Book Description
This collection explores the expansion of Chinese outbound investments, aimed to sustain the increased need for natural resources, and how they have amplified the magnitude of a possible international crisis that the People’s Republic of China may face in the near future by bringing together the views of a wide range of scholars. President Xi’s Belt and Road initiative (BRI), aimed to promote economic development and exchanges with China for over 60 countries, necessitates a wide range of security procedures. While the threats to Chinese enterprises and Chinese workers based on foreign soil are poised to increase, there is an urgent need to develop new guidelines for risk assessment, special insurance and crisis management. While the Chinese State Owned Enterprises are expanding their international reach capabilities, they still do not have the capacity to assure adequate security. In such a climate, this collection will be of profound value to policy makers, those working in the financial sector, and academics.
Author: Harshal Zalke
Author: Harshal Zalke
Author: Jennifer Hillman
Author: Nadáege Rolland
Author: Joel Wuthnow
Author: World Bank
Author: Alessia Amighini (a cura di)
Author: Moritz Rudolf
Author: Chinyong Liow, Joseph
Author: Jeremy Garlick
Author: Alessandro Arduino