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
-
Video
Indo-Pacific Security / Energy, Economics & Security
Trump Unfriends Modi's India: Trump Frothing, India CalmFrom tariffs to tantrums-Trump's latest anti-India tirade stirs global concern. As Washington watches in disbelief, Shiv Aroor discusses what this "break-up" means for India-U...
By Daniel Silverberg
-
Commentary
Indo-Pacific Security / Transatlantic Security / Middle East Security
A Project for a New World OrderIndeed, the gathering in Beijing suggests that the axis, rather than withering following the war in Iran in June, has momentum....
By Richard Fontaine & Andrea Kendall-Taylor
-
Video
Indo-Pacific Security / Transatlantic Security / Middle East Security
Xi, Putin, Kim Project United Front in ChinaRichard Fontaine, chief executive officer at the Center for a New American Security, joins BBC to discuss the Axis of Upheaval and the level of concern from the Trump administ...
By Richard Fontaine
-
How the U.S. Should Push the Quad-Plus to Protect Undersea Cables
Commentary
Subsea sabotage marks a new era in gray zone warfare, and the United States and its partners have a narrow window to expose and confront this threat before it becomes the new ...
By Ryan Claffey
