Necessary and sufficient conditions for the BRI success
Abstract This paper presents a general theoretical framework for understanding the Belt‐and‐Road Initiative (BRI). We begin with an introduction to the connotations of the BRI and a review of the initiative's main achievements since its inception. From these achievements, we identify the existe...
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| Format: | Article |
| Language: | English |
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Wiley
2022-12-01
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| Series: | International Studies of Economics |
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| Online Access: | https://doi.org/10.1002/ise3.38 |
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| _version_ | 1832086596232413184 |
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| author | Yongjun Chen Chenglong Guo |
| author_facet | Yongjun Chen Chenglong Guo |
| author_sort | Yongjun Chen |
| collection | DOAJ |
| description | Abstract This paper presents a general theoretical framework for understanding the Belt‐and‐Road Initiative (BRI). We begin with an introduction to the connotations of the BRI and a review of the initiative's main achievements since its inception. From these achievements, we identify the existence of a potential match between supply and demand in jointly building the BRI to be the foremost necessary condition for win–win cooperation for participating countries. Several features of China's contemporary economic structure are shown to provide the huge potential of supply that matches the massive demand of many Belt‐and‐Road countries for infrastructure development. To unleash the full potential of the BRI, a series of sufficient conditions must be met so that supply and demand interact in a virtuous manner. In the first stage of jointly building the BRI, the key to turn the initiative's potential into reality is to develop the “Five Links” of policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and people‐to‐people bond. Now that the BRI has entered the high‐quality development stage, we demonstrate that China has taken or needs to work on policy measures in 10 areas to ensure the continuing and sustainable success of the BRI construction. |
| format | Article |
| id | doaj-art-be5933e50d1241959c459287beac85a8 |
| institution | Kabale University |
| issn | 2831-3224 |
| language | English |
| publishDate | 2022-12-01 |
| publisher | Wiley |
| record_format | Article |
| series | International Studies of Economics |
| spelling | doaj-art-be5933e50d1241959c459287beac85a82025-02-06T11:40:41ZengWileyInternational Studies of Economics2831-32242022-12-0117441742910.1002/ise3.38Necessary and sufficient conditions for the BRI successYongjun Chen0Chenglong Guo1Research Institute for Dual Circulation Development of the Greater Bay Area Guangdong University of Finance & Economics Guangzhou ChinaBusiness School Renmin University of China Beijing ChinaAbstract This paper presents a general theoretical framework for understanding the Belt‐and‐Road Initiative (BRI). We begin with an introduction to the connotations of the BRI and a review of the initiative's main achievements since its inception. From these achievements, we identify the existence of a potential match between supply and demand in jointly building the BRI to be the foremost necessary condition for win–win cooperation for participating countries. Several features of China's contemporary economic structure are shown to provide the huge potential of supply that matches the massive demand of many Belt‐and‐Road countries for infrastructure development. To unleash the full potential of the BRI, a series of sufficient conditions must be met so that supply and demand interact in a virtuous manner. In the first stage of jointly building the BRI, the key to turn the initiative's potential into reality is to develop the “Five Links” of policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and people‐to‐people bond. Now that the BRI has entered the high‐quality development stage, we demonstrate that China has taken or needs to work on policy measures in 10 areas to ensure the continuing and sustainable success of the BRI construction.https://doi.org/10.1002/ise3.38BRInecessary conditionssufficient conditionswin–win cooperation |
| spellingShingle | Yongjun Chen Chenglong Guo Necessary and sufficient conditions for the BRI success International Studies of Economics BRI necessary conditions sufficient conditions win–win cooperation |
| title | Necessary and sufficient conditions for the BRI success |
| title_full | Necessary and sufficient conditions for the BRI success |
| title_fullStr | Necessary and sufficient conditions for the BRI success |
| title_full_unstemmed | Necessary and sufficient conditions for the BRI success |
| title_short | Necessary and sufficient conditions for the BRI success |
| title_sort | necessary and sufficient conditions for the bri success |
| topic | BRI necessary conditions sufficient conditions win–win cooperation |
| url | https://doi.org/10.1002/ise3.38 |
| work_keys_str_mv | AT yongjunchen necessaryandsufficientconditionsforthebrisuccess AT chenglongguo necessaryandsufficientconditionsforthebrisuccess |