China’s Belt and Road Initiative and Its Implications for Global Development 


Vol. 6,  No. 1, pp. 91-118, Jun.  2021
10.22679/avs.2021.6.1.004


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  Abstract

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. Full-text

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  Cite this article

[IEEE Style]

M. Dunford, "China’s Belt and Road Initiative and Its Implications for Global Development," Acta Via Serica, vol. 6, no. 1, pp. 91-118, 2021. DOI: 10.22679/avs.2021.6.1.004.

[ACM Style]

Michael Dunford. 2021. China’s Belt and Road Initiative and Its Implications for Global Development. Acta Via Serica, 6, 1, (2021), 91-118. DOI: 10.22679/avs.2021.6.1.004.

[APA Style]

Dunford, M. (2021). China’s Belt and Road Initiative and Its Implications for Global Development. Acta Via Serica, 6(1), 91-118. DOI: 10.22679/avs.2021.6.1.004.

[MLA Style]

Michael Dunford. "China’s Belt and Road Initiative and Its Implications for Global Development." Acta Via Serica, vol. 6, no. 1, 2021, pp. 91-118. doi:10.22679/avs.2021.6.1.004

[HAVARD Style]

Michael Dunford (2021) 'China’s Belt and Road Initiative and Its Implications for Global Development', Acta Via Serica, 6(1), pp. 91-118. doi:10.22679/avs.2021.6.1.004

[ACS Style]

Dunford, M.. Acta Via Serica 6 2021, 91-118. 10.22679/avs.2021.6.1.004

[ABNT Style]

Dunford, M.. China’s Belt and Road Initiative and Its Implications for Global Development. Acta Via Serica, v. 6, n. 1, p. 91-118, 2021. DOI: 10.22679/avs.2021.6.1.004

[Chicago Style]

Michael Dunford. "China’s Belt and Road Initiative and Its Implications for Global Development." Acta Via Serica 6, no. 1 (2021): 91-118. doi:10.22679/avs.2021.6.1.004

[TURABIAN Style]

Michael Dunford. "China’s Belt and Road Initiative and Its Implications for Global Development." Acta Via Serica 6, no. 1 (2021): 91-118. 10.22679/avs.2021.6.1.004

[VANCOUVER Style]

Michael Dunford. China’s Belt and Road Initiative and Its Implications for Global Development [Acta Via Serica]. 2021;6:91-118. DOI:10.22679/avs.2021.6.1.004

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