The Rationale and Effects of China’s Belt and Road Initiative: Reducing Vulnerabilities in Domestic Political Economy

Lai, Hongyi

Abstract

The existing literature suggests that China launched the belt and road initiative (BRI) in order to stimulate economic growth through infrastructural investment abroad, foster closer economic ties with Eurasia, and counter the US pivot to Asia. In this article, the BRI is interpreted in a deeper context through an analysis of its role in sustaining the economic and political regime in China and in reducing vulnerabilities in domestic political economy. These vulnerabilities include surplus industrial capacity, heavy reliance on energy imports, and under-development of the western region. Post-2012 data suggest that the BRI has partially instead of fully enabled China to ease surplus industrial capacity, secure energy importing routes (especially imports through pipelines), and enhance the economic profile of China's western region.

Citation

Lai, H. (2021). The Rationale and Effects of China’s Belt and Road Initiative: Reducing Vulnerabilities in Domestic Political Economy. Journal of Contemporary China, 30(128), 330-347. https://doi.org/10.1080/10670564.2020.1790896

• Journal Article Type: Article
• Acceptance Date: Feb 14, 2020
• Online Publication Date: Jul 7, 2020
• Publication Date: Feb 26, 2021
• Deposit Date: May 16, 2020
• Publicly Available Date: Jan 8, 2022
• Journal: Journal of Contemporary China
• Print ISSN: 1067-0564
• Electronic ISSN: 1469-9400
• Publisher: Routledge
• Peer Reviewed: Peer Reviewed
• Volume: 30
• Issue: 128
• Pages: 330-347
• DOI: https://doi.org/10.1080/10670564.2020.1790896
• Keywords: Political Science and International Relations; Geography, Planning and Development; Development
• Public URL: https://nottingham-repository.worktribe.com/output/4028091
• Publisher URL: https://www.tandfonline.com/doi/full/10.1080/10670564.2020.1790896
• Additional Information: This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of Contemporary China on 07/07/2020, available online: https://www.tandfonline.com/doi/abs/10.1080/10670564.2020.1790896.