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[China's Greater Bay Area].

Wirtschaftsdienst (Hamburg, Germany : 1949)·2021
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[China's Belt and Road Initiative Is Changing].

Britta Kuhn1

  • 1Wiesbaden Business School der Hochschule RheinMain, Bleichstr. 44, 65183 Wiesbaden, Deutschland.

Wirtschaftsdienst (Hamburg, Germany : 1949)
|November 23, 2021
PubMed
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This summary is machine-generated.

China's Belt and Road Initiative (BRI) faces financial and geopolitical challenges, leading to declining investment and partner withdrawal. Beijing is now pivoting towards digital infrastructure and global technology standards.

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Area of Science:

  • Geopolitics
  • International Economics
  • Environmental Policy

Context:

  • The Belt and Road Initiative (BRI) has faced increasing financial, geopolitical, and environmental challenges.
  • Declining Chinese investment and partner reluctance in Eastern and Southeastern Europe predate the pandemic.
  • Affluent democracies are promoting alternative initiatives, and China is managing its debt.

Purpose:

  • To analyze the evolving landscape of China's Belt and Road Initiative.
  • To identify the challenges and strategic shifts within the BRI.
  • To examine the implications of China's focus on digital and standardization projects.

Summary:

  • China's Belt and Road Initiative (BRI) is experiencing significant headwinds, including declining investment, unprofitable projects, and growing resistance to environmentally damaging initiatives.
  • Geopolitical shifts and the rise of alternative global partnerships have further complicated the BRI's trajectory.
  • In response, China is increasingly emphasizing the "Digital Silk Road" and "China Standards 2035" to advance its global technology and standardization agenda.

Impact:

  • The shift towards digital and standardization projects signals a new phase for China's global economic strategy.
  • Understanding these changes is crucial for international partners and competitors navigating the evolving global economic order.
  • This strategic pivot may reshape global technology governance and international trade dynamics.