Purpose: The research aims to examine the scope, nature and strength of the EU's relations with China and the United States, under new circumstances created by the development of the Belt and Road Initiative. Design/Methodology/Approach: In pursuance of the goals, three main research fields were identified. The first part of the research covers the EU-China relationship with special regard to the Belt and Road Initiative development. The second part concentrates on the transatlantic relationship under the specific terms of Sino-American competition. The third section is devoted to measuring the strength of economic ties between the EU with China and the U.S. The multidimensional analysis of the EU-China and the EU-U.S. bilateral cooperation is conducted within the framework of the geoeconomic theory. The main tool used in the first and second part of the research is a literature analysis whereas to reflect the strength of geoeconomic relations between the countries geoeconomic vulnerability indicators were employed. Findings: The BRI is an instrument promoting China's model for international economic cooperation, giving an advantage to the Chinese state and commercial enterprises at the expense of the U.S. and other partners of the EU. Although China has an advantage in terms of trade, its FDI is yet to catch up with those from the U.S. However, as China consistently increases trade and investments in the EU countries, its geoeconomic and geopolitical influence in the region may definitely increase. Practical Implications: The proposed set of indicators can be used to assess and monitor the strength and nature of bilateral relations between countries from a geoeconomic perspective. Originality/Value: The article provides a comprehensive and multidimensional analysis of the current EU-China-U.S. relations in the context of the Belt and Road Initiative. In this paper, the authors examine relations between the above mentioned countries by means of a geoeconomic approach.
China's economic expansion in Africa-selected aspects The unprecedented rise of China attracts worldwide attention due to the scale of changes as well as the speed at which they occur. Growing economic power has allowed China to undertake economic and financial cooperation with many countries on all continents, Africa included. The Chinese engagement in Africa covers extensive trade relations, outward direct investment of private and public companies, as well as development assistance and a rising number of contracted projects. Beijing's drive for African natural resources remains a key determinant factor accompanied by other drivers of political or social provenience. The paper presents the China-Africa economic partnership in different sectors based on an analysis of available datasets.
Challenges that the EU had to face at the beginning of the 21st century have induced revision of its foreign policy. Unprecedented economic development, as well as political opening of China have created an attractive political and economic partner, desired by European states. From the very beginning the cooperation between the EU and China has been based on the economic field. Nowadays, thanks to demographic and economic potentials of both partners bilateral trade turnover equals to a third of global trade and is worth 1 billion euro a day. On initial economic platform of cooperation partners now develop a comprehensive political and social partnership. Despite ideological and political differences, as well as sometimes contradictory economic interests, strategic partnership is very likely to be continued.
The financial dimension is a crucial aspect of bilateral cooperation between China and the African continent. The instruments and mechanisms of cooperation evolve with the changing strategy and financial capabilities of the Middle Kingdom and the needs and expectations of African partners. Development aid is an essential aspect of financial cooperation, allowing the PRC to pursue its strategic interests and accelerating the pace of economic development of the partner countries. The article contains an analysis of financial aid issues, including development aid, and the characteristics of China's aid activities in Africa. As a result of the research, conclusions are drawn regarding the link between the strategic interests of the PRC and its development aid strategy on the African continent.
Purpose: The research aims to examine China's economic activities around the world from the broad perspective of the country's economic security. The authors begin with explaining the concept of economic statecraft and then deal with the analysis of the Chinese overseas economic expansion. Design/Methodology/Approach: The main tools used to achieve the objectives mentioned above include a literature analysis, logical reasoning and statistical research. Findings: The last decades have revealed a new pattern in global economic cooperation. The Belt and Road Initiative turned out to be a successful instrument supporting China's economic growth and deepening international economic cooperation and interdependence. The BRI project allows China not only to secure access to supplies and markets but also strengthen its soft power and gives the possibility to build a powerful network of interconnected countries, independent from the Western powers, willingly cooperating with China in every field. Practical Implications: The research results are helpful to realise the extend and importance of the Belt and Road Initiative in China's economic statecraft and indicate potential fields for future international cooperation under the BRI. As close economic cooperation under the BRI can have significant consequences for China and all countries covered by this project, all partners have to be aware of the complexity of their involvement in this initiative and the pros and cons of such interdependence. Originality/Value: The Belt and Road Initiative is a novel form of broad international cooperation. Thus it deserves special attention and research. The research concerns an economic dimension of the Belt and Road Initiative and provides a comprehensive analysis of China's worldwide economic expansion.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.