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Original Articles

Inclusive globalization: unpacking China's Belt and Road Initiative

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Pages 323-340 | Received 29 Mar 2016, Accepted 31 Aug 2016, Published online: 28 Sep 2016
 

ABSTRACT

China’s Belt and Road Initiative (BRI) is a call for an open and inclusive (mutually beneficial) model of cooperative economic, political and cultural exchange (globalization) that draws on the deep-seated meanings of the ancient Silk Roads. While it reflects China’s rise as a global power, and its industrial redeployment, increased outward investment and need to diversify energy sources and routes, the BRI involves the establishment of a framework for open cooperation and new multilateral financial instruments designed to lay the infrastructural and industrial foundations to secure and solidify China’s relations with countries along the Silk Roads and to extend the march of modernization and poverty reduction to emerging countries.

摘要

包容性全球化:解读中国的‘一带一路’倡议. 中国的‘一带一路’倡议是一个开放包容(互惠互利)的经济合作和政治文化交流(全球化)模式的倡议,是对古丝绸之路深刻内涵的传承与发扬。一带一路倡议一方面体现了中国崛起成为全球力量,及其产业重组、对外投资增长、能源来源和路径多样化的需要;另一方面也包含了建立开放合作和新型多边金融机构的基础框架,该框架旨在为维护和巩固中国同丝绸之路沿线国家的关系奠定基础设施及产业的基础,并将新兴国家纳入到实现现代化和减贫的伟大征程中来。

RESUMEN

Globalización integradora: análisis de la iniciativa La Franja y La Ruta de China. La iniciativa Belt and Road (la Franja y la Ruta) de China es una invitación a un modelo abierto e integrador (mutuamente beneficioso) de intercambio económico, político y cultural de cooperación (globalización) que se basa en los significados arraigados de las Rutas de la Seda. Si bien refleja el crecimiento de China como potencia internacional, y su redistribución industrial, creciente inversión exterior y necesidad de diversificar fuentes y rutas energéticas, la iniciativa de La Franja y La Ruta implica la creación de un marco para una cooperación abierta y nuevos mecanismos de financiación multilaterales diseñados para sentar las bases industriales y de infraestructura con el fin de asegurar y fortalecer las relaciones con países en las Rutas de la Seda y ampliar la marcha de la modernización y la reducción de la pobreza en países emergentes.

АННОТАЦИЯ

Всеохватывающая глобализация: расшифровывая Китайскую инициативу Пояса и Пути. Китайская инициатива Пояса и Пути (Belt and Road Initiative – BRI) – это призыв к открытой и всеохватывающей (взаимовыгодной) модели экономического, политического и культурного обмена (глобализации), которая опирается на глубинные смыслы древнего Шелкового пути. Отражая подъем Китая как мировой державы, реорганизацию ее промышленного производства, увеличение ее инвестиций за рубеж и необходимость диверсификации источников энергии и маршрутов, BRI предполагает создание основы для открытого сотрудничества и новых многосторонних финансовых инструментов, нацеленных на создание инфраструктуры и производственных фондов для обеспечения и закрепления связей Китая со странами вдоль Шелкового пути и расширения процессов модернизации и сокращения бедности в развивающихся странах.

JEL CODES:

Disclosure statement

No potential conflict of interest was reported by the authors.

SUPPLEMENTAL DATA

The supplemental data for this article can be accessed here.

Notes

1 Trade grew after the Han conquest of Xin Jiang secured the routes for Chinese silk to reach ancient Rome, after the north-westerly expansion of the Tang dynasty in the mid-seventh century, and after the establishment of the vast Mongolian Yuan dynasty, when the Venetian merchant Marco Polo travelled to China. The sea route grew in importance after the establishment of Ottoman control over overland routes.

2 Von Richthofen used the term to refer to the overland routes along which trade flourished from the time of the Han expansion into Central Asia in the second century BCE until the fall of the Eastern Han, drawing on Greek and Roman sources. He considered the sea routes more important, but did not include them, and identified the Silk Road(s) with the routes from Chang’an (Xi’an), the capital of China in Qin, Western Han and Tang dynasties, to Central and Western Asia and Europe. Trade routes were much more diversified (see Figure A1 in the supplemental data online). For example, there were northern Silk Roads to Russia (Liu, Citation1995) and southern ones to South Asia (Zhu, Citation1991).

3 This possibility depends on infrastructure provision. As Chinese Foreign Ministry spokesperson Hong Lei explained, ‘A place needs to have well-functioning roads before it can get rich’ (cited in Tiezzi, Citation2014). China can contribute finance and some of the best engineering skills in the world acquired through the completion of many projects in very difficult conditions, such as the Golmud–Lhasa railway.

4 In Turkmenistan the Bagtyyarlyk production-sharing contract on which work started in 2008 was largely financed (US$4 billion), explored, constructed and operated by the China National Petroleum Corporation (CNPC). CNPC is also actively involved in the development of the Galkynysh natural gas field in Turkmenistan. Turkmenistan’s gas is supplied through three parallel lines, A–C (Gedaim to Horgos), of the Central Asia Gas Pipeline (CAGP) developed by CNPC with KazMunayGaz and UzbekNefteGaz in the context of intergovernmental agreements on pipeline construction and operation. Uzbekistan and Tajikistan’s gas was subsequently fed into the CAGP and China’s West East pipeline system. A fourth line, D, of the China–Central Asia Gas Pipeline, routed via Uzbekistan, Tajikistan and Kyrgyzstan to China, will be completed in 2016, providing an alternative route for Central Asian gas and increasing capacity to 85 billion m3.

5 In a speech in Washington state on 22 September 2015 during his US state visit, President Xi Jinping said that the BRI is open and inclusive and welcomes all countries and international organizations including the United States (see http://www.chinanews.com/gn/2015/09-23/7540818.shtml). He also said during his UK state visit on 19–23 October 2015 that the BRI originated from the ancient silk roads but is not limited to countries along these roads (see http://news.xinhuanet.com/politics/2016-01/06/c_1117679375_2.htm).

Additional information

Funding

This work was supported by the National Natural Science Foundation of China: [Grant Number 41530751].

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