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
-
Commentary
In the next few weeks, the Korean Peninsula will face a watershed moment -- one which could upend the United States' alliances in northeast Asia and regional stability as a wh...
By Duyeon Kim
-
Commentary
An effective peace process is possible and desirable in Afghanistan. Success, however, will require a careful, step-by-step course to test bona fides, build confidence, reduce...
By Earl Anthony Wayne & Christopher D. Kolenda
-
Commentary
Two months after President Trump declared U.S.-Taliban peace talks “dead,” diplomacy with the Afghan insurgents is reviving. With the administration already having negotiated ...
By David H. Petraeus & Vance Serchuk
-
Video
Daniel Kliman appears on a BBC News feature to discuss the state of U.S. policy toward China. Listen to the full conversation and more:...
By Daniel Kliman