This article clarifies the various aspect of “The Belt and Road” Initiative (BRI), which is generally recognized as the blueprint of enormous economic zone concept under China’s strong leadership. Although China affirms BRI is an initiative for cooperation, guided by openness, win-win success, but it is hard to understand its real intention and policy priority from outside.
After obtaining the membership of World Trade Organization (WTO), China aggressively started to promote Free Trade Agreement (FTA) policy. Because bilateral negotiations are advantageous to China against the backdrop of overwhelming market power. And It seems China intends to achieve the complex objectives, including diplomatic purposes rather than economic benefits.
BRI was proposed by President Xi Jinping, in autumn 2013, while negotiations for the Trans-Pacific Partnership (TPP) were in progress on the other side. So, there is also a view that BRI was a countermeasure for TPP. It is sure China is very cautious not to be excluded from establishing the world trade regulations. However, BRI differs completely from economic partnership, and China’s countermeasure for TPP is Regional Comprehensive Economic Partnership (RCEP).
Although partner countries can achieve improvement of infrastructures and realize economic development through China’s huge assistance or investment, it becomes impossible to damage a stable relationship with China automatically. Furthermore, international order could be strongly influenced by China’s power.
Meanwhile, TPP12 was suspended by US new President, China has been released from the strong pressure of establishing the trade rules. Therefore, main developed countries, such as Japan, should encourage China to join making a high level of international rules.
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