April 12, 2018

Will China’s New Trade/Debt Diplomacy Strategy Reshape The World?

China’s vision is unlikely to become the world’s vision.

By Patrick M. Cronin

The nationalistic China Dream represents the ambitious choreography of the Chinese Communist Party. Sino-centrism is apparent in the original formulation of “One Belt, One Road,” a phrase subsequently replaced after it became apparent that other actors might want a voice in determining their destinies. The more ambiguous “Belt and Road Initiative” still appears a means by which China may dominate twenty first-century global supply chains by leveraging its advantages in foreign exchange reserves and surplus industrial capacity.

The Belt and Road Initiative also needs to be placed in a strategic and not just economic context. Xi Jinping may tout infrastructure to attract others to rally behind Beijing, but his open quest for military modernization will repel many worried about China’s future intentions. Small countries whose leaders are subject to foreign influence may buy into long-term indebtedness and foreign policy bandwagoning. But most sovereign states will wish to hedge their future security through economic diversification
and networked security.

Read the full article at International Economy

  • Commentary
    • Foreign Policy
    • April 8, 2021
    It’s Still Hard to Be America’s Ally

    The drive to enshrine a U.S. foreign policy for the American middle class may, in particular, pose new dilemmas for long-term allies....

    By Richard Fontaine

  • Podcast
    • April 8, 2021
    Are the US and China entering a Cold War?

    Demetri Sevastopulo, the FT’s US-China correspondent, talks to Michèle Flournoy about the expanded economic and political influence of China and how might Joe Biden break thro...

    By Michèle Flournoy

  • Commentary
    • American Purpose
    • April 5, 2021
    Grooming Autocrats

    America’s increasing focus on rivalry with China ensures that U.S. Africa policy will continue to be viewed, at least in part, through a China lens....

    By David Shullman & Patrick Quirk

  • Podcast
    • April 2, 2021
    ChinaTalk: Japan's China Challeng‪e‬

    Joshua Fitt cohosts the latest episode of ChinaTalk to discuss the relationship and challenges Japan faces with China. Listen to the full episode from ChinaTalk....

    By Joshua Fitt & Jordan Schneider

View All Reports View All Articles & Multimedia