How China's Silk Road Initiative is Changing the Global Economic Landscape

The New Silk Road initiative is an ambitious project by China to change the global economic division of labor and geostrategic balance of power. It aims to create a new industrial value chain linking China and East Asia with Europe, and forge new regional and multilateral institutions. The full impact of the initiative on global goods flows, investment activity, and international implications is still undetermined. This book provides cutting-edge knowledge and analysis on the initiative's development.

Format: Paperback / softback
Length: 304 pages
Publication date: 01 April 2021
Publisher: Taylor & Francis Ltd

The New Silk Road initiative, launched by China, represents one of the most ambitious endeavors in recent decades aimed at reshaping the global economic landscape and the geopolitical balance of power. With its potential to establish a new industrial value creation network connecting China, East Asia, Central and South Asia, and Europe, the initiative seeks to establish new regional and multilateral institutions that can either complement or compete with existing regional and global governance structures. Initially proposed in 2013, the New Silk Road initiative is now beginning to be implemented, with trade relations gradually intensifying and the first investment projects and infrastructure clusters emerging. However, the full impact of the evolving regional value chains on global goods flows, investment activity, supra-national institution building, and their broader international implications remains uncertain.

To address this gap, this book brings together a distinguished group of scholars from economics, political science, and area studies, who offer the latest cutting-edge knowledge and state-of-the-art economic and political analysis on the development and future trajectory of the New Silk Road initiative. The chapters in this book explore various aspects of the initiative, including its economic, political, and social dimensions, as well as its implications for global trade, investment, and regional security.

One of the key themes explored in the book is the role of infrastructure development in fostering economic connectivity and promoting regional cooperation. The authors argue that the New Silk Road initiative represents a significant investment in infrastructure, including high-speed rail, ports, and energy networks, which can enhance economic growth, reduce trade costs, and promote regional integration. However, they also note that challenges such as financing, environmental sustainability, and political risks need to be addressed to ensure the successful implementation of these infrastructure projects.

Another important aspect of the New Silk Road initiative is its potential to promote cultural exchange and understanding. The authors highlight the importance of promoting people-to-people interactions and promoting cultural diversity, which can contribute to a more peaceful and prosperous world. They also note that the initiative can facilitate the exchange of ideas, knowledge, and technology, which can promote innovation and economic development in participating countries.

The book also examines the geopolitical implications of the New Silk Road initiative. The authors argue that the initiative can help China strengthen its ties with countries in Central and South Asia, which can serve as a counterbalance to the influence of the United States and other Western powers in the region. They also note that the initiative can promote regional stability and security by promoting economic cooperation and reducing geopolitical tensions.

However, the book also raises concerns about the potential risks and challenges associated with the New Silk Road initiative. The authors note that the initiative may exacerbate existing economic and social inequalities, particularly in developing countries, and may lead to increased competition and conflict. They also argue that the initiative may be vulnerable to geopolitical tensions and political instability, particularly in regions with complex political landscapes.

In conclusion, the New Silk Road initiative represents a significant opportunity for China and the participating countries to promote economic growth, foster regional cooperation, and enhance global stability. However, the successful implementation of the initiative requires careful consideration of its economic, political, and social dimensions, as well as its geopolitical implications. This book provides valuable insights into the development and future trajectory of the New Silk Road initiative and will be of interest to scholars, policymakers, and business executives alike.

Weight: 558g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367777555