1. Overestimating the Power if China's BRI- Lessons Drawn from Japanese ODA Engagement
- Author:
- Raymond Yamamoto
- Publication Date:
- 01-2019
- Content Type:
- Special Report
- Institution:
- East-West Center
- Abstract:
- China’s Belt and Road Initiative (BRI) proposed by President Xi Jinping in 2013 is among the most ambitious global visions promoted by one country. The general goal of BRI is the provision of economic infrastructure worth at least $1 trillion to improve the land and sea routes between Asia, Africa, and Europe. In order to attract additional international investments to finance the initiative, China even created a multilateral bank – the Asian Infrastructure Investment Bank (AIIB) — in 2015. However, China’s ambitious BRI strategy has met considerable criticism from politicians and policy-makers, journalists, analysts, and scholars. These criticisms include accusations of pursuing debt-trap diplomacy to gain concessions from countries participating in BRI. The decision of Sri Lanka in 2018 to lease Hambantota port to China in order to reduce its BRI debt burden is often cited as a prime example. Together with growing Chinese military strength and assertiveness in the South and East China Seas, BRI is being framed as an instrument deployed by China to build up its global dominance.
- Topic:
- International Affairs
- Political Geography:
- China