Vietnam’s Perceptions and Strategies toward China’s Belt and Road Initiative Expansion: Hedging with Resisting

Abstract

China’s Belt and Road Initiative (BRI) which was launched by Xi Jinping in 2013 seemingly draws a great picture of mutual development with a lot of promises in term of financial and technological supports to infrastructure development projects in a large number of countries. Such promises sound good to many countries including Vietnam, a developing country who is in its capital thirst. However, Vietnam’s reaction to this Initiative in particular and to China’s strategic intentions in general is not easy to understand. Vietnam’s perceptions on the BRI have varied across many different social spectra. Based on those common understandings, Vietnam’s strategies toward China and its BRI are a mixture of seemingly contradictory policies which show either their supports (bandwagonig strategy) or denials (balancing strategy) or both simultaneously. However, it is in fact hedging strategy which is a flexible combination of both bandwagoning and balancing strategies is working comprehensively in various spheres.

Keywords:

• BRI
• foreign policy
• perception
• balancing strategy
• bandwagoning strategy
• hedging strategy

Notes

1 According to Belt and Road Initiative. https://www.beltroad-initiative.com/belt-and-road/

2 According to The Belt and Road Initiative. Progress, contributions, prospect. http://www.china-un.ch/eng/zywjyjh/t1675564.htm

3 According to MOFCOM (2019). Press Conference on “Stabilizing Foreign Trade, Stabilizing Foreign Investment, and Promoting Consumption”. http://english.mofcom.gov.cn/article/newsrelease/press/201907/20190702878645.shtml.

4 According to PEW (2017). How people in Asia-Pacific view China. https://www.pewresearch.org/fact-tank/2017/10/16/how-people-in-asia-pacific-view-china/

5 According to Customsnews (2019, September 28). Why has the Cat Linh - Ha Dong urban railway missed its deadline so many times? https://customsnews.vn/why-has-the-cat-linh-ha-dong-urban-railway-missed-its-deadline-so-many-times-12087.html

6 According to Macrotrends (2020).Vietnam Military Spending/Defense Budget 1987-2020. https://www.macrotrends.net/countries/VNM/vietnam/military-spending-defense-budget

7 According to Stockholm International Peace Research Institute (SIPRI) data

8 According to Global Firepower Nations Index (2020). A listing of all countries considered for the annual GFP defense review. https://www.globalfirepower.com/countries.asp

9 According to Defense Ministry of Vietnam (2019). Defense White paper 2019, p.23.

10 According to World Bank (2019, Feb 25). World Bank Ready to Help Vietnam Meet Growing Infrastructure Demands. https://www.worldbank.org/en/news/press-release/2019/02/25/wb-ready-to-help-vietnam-meet-growing-infrastructure-demands

11 According to Customsnews (2020, January 16). Trade turnover of US$117 billion with China. https://customsnews.vn/trade-turnover-of-us-117-billion-with-china-13202.html

12 Ibid

13 According to Vnexpress from https://vnexpress.net/viet-nam-tang-trang-thiet-bi-y-te-cho-trung-quoc-4052605.html

14 Landmark agreements with the US such as the 2011 Defense Cooperation Memorandum, the Joint Statement and Vision on Defense Cooperation in 2015 and the Defense Cooperation Plan 2018-2020.

15 According to Customsnews, Vietnam-US trade: From 450 million to over 60 billion USD. https://customsnews.vn/vietnam-us-trade-from-450-million-to-over-60-billion-usd-9934.html

16 Referred from According to Ministry of Trade and Industry.

17 According to Ministry of Industry and Trade. Báo cáo tình hình đầu tư trực tiếp nước ngoài năm 2019. (Report on Foreign Direct Investment situation in 2019). http://www.mpi.gov.vn/

18 According to General Department of Vietnam Customs.Tình hình xuất khẩu, nhập khẩu hàng hóa của Việt Nam tháng 12 và năm 2019 (Vietnam’s export and import situation in December 2019 and whole year of 2019). https://www.customs.gov.vn/Lists/ThongKeHaiQuan

19 Ibid.

20 According to ASEAN key figures 2019, from https://www.aseanstats.org/wp content/uploads/2019/11/ASEAN_Key_Figures_2019.pdf

21 Ibid.