Emperor's New Road: China and the Project of the Century

The Belt and Road Initiative is China's most ambitious geoeconomic vision, promising to spend over one trillion dollars on new connections in over one hundred and thirty countries. It has expanded into the Arctic, cyberspace, and outer space, but Washington warns that it is charting a path to global dominance. Jonathan E. Hillman argues that China is repeating the mistakes of the great powers and that all roads do not yet lead to Beijing.

Format: Hardback
Length: 304 pages
Publication date: 02 October 2020
Publisher: Yale University Press

The Belt and Road Initiative (BRI) is a massive and complex project launched by China that aims to connect countries across Asia, Europe, and Africa through infrastructure development and economic cooperation. The initiative has garnered significant attention and debate, with some viewing it as a means to promote global development and economic growth, while others see it as a tool for China to gain global dominance.

One of the key concerns about the BRI is its potential global risks. According to Peter Neville-Hadley, a prominent authority on the initiative, the project poses a range of risks that could impact countries involved in the initiative and the broader global economy. These risks include environmental degradation, political instability, and economic inequality.

Neville-Hadley argues that the BRI is repeating the mistakes of the great powers that came before it. He notes that China's expansionist policies have often led to environmental degradation, political instability, and economic inequality in the countries it has interacted with. For example, China's construction of large-scale infrastructure projects has often resulted in the displacement of local communities and the destruction of natural habitats.

Another concern about the BRI is its impact on global trade and the international economic order. Some analysts argue that the initiative could lead to increased trade barriers and protectionism, which could hurt countries that rely on international trade for their economic growth. Additionally, the BRI could create new power imbalances and exacerbate existing ones, particularly between China and the United States.

Despite these concerns, there are also proponents of the BRI who argue that it has the potential to promote global development and economic growth. They argue that the initiative will create new opportunities for countries to invest in infrastructure and develop their economies, particularly in developing regions. Additionally, the BRI could promote cultural exchange and understanding between different countries, which could lead to greater peace and stability in the world.

In conclusion, the Belt and Road Initiative is a complex and ambitious project that poses a range of global risks. While some see it as a means to promote global development and economic growth, others see it as a tool for China to gain global dominance. It is important for policymakers and stakeholders to carefully consider the potential risks and benefits of the initiative and to work towards ensuring that it is implemented in a way that promotes sustainable and equitable development for all countries involved.

Weight: 594g
Dimension: 166 x 243 x 29 (mm)
ISBN-13: 9780300244588