Will Oil Become the Achilles Heel of China’s BRI?

Author
Naser al-Tamimi
Content Type
Commentary and Analysis
Institution
Italian Institute for International Political Studies (ISPI)
Abstract
With more than 136 countries (end-July 2019) reported to have signed up to the Belt and Road Initiative (BRI hereafter) since it was announced by President Xi Jinping in 2013, estimates for China's potential BRI investments vary significantly, from around US $1 trillion to as much as US $8 trillion. China’s spectacular economic rise over the last three decades has been accompanied by a sharp increase in its energy demand. As a result, China is the world’s largest energy consumer. As its economy continues to grow, even at lower rates than before, its dependence on oil and gas imports will increase over the next two decades.
Topic
Oil, Economy, Soft Power, Belt and Road Initiative (BRI)
Political Geography
China, Asia