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.
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
More from CNAS
-
Global Leaders Condemn Pahalgam Terror Attack
Video
In the wake of the Pahalgam terror attacks, global leaders, including Trump and Macron, condemned the violence and expressed solidarity with India. As calls for justice grow, ...
By Lisa Curtis
-
Ziemba: Struck By Energy Deal Between India & Saudi Arabia
Video
Saudi Arabia and India have agreed to deepen energy ties and cooperate more closely on tourism and technology as the countries seek to strengthen relations at a time of turbul...
By Rachel Ziemba
-
Trump’s Crackdown on Foreign Students Is a Gift to China
Commentary
When top global talent no longer sees America as a stable, long-term bet — in light of both visa and research funding insecurity — many will vote with their feet....
By Jordan Schneider
-
Trump Administration Realises That The Tariff Strategy Has Backfired: Lisa Curtis
Video
Trump administration realises that the tariff strategy has backfired, says Lisa Curtis, senior fellow and program director at the Center for a New American Security.Watch the ...
By Lisa Curtis
