China’s economic connectivity to the world economy

Abstract

The ambition of the Belt and Road Initiative (BRI) is to revive the silk road of Roman times which was used by merchants to carry trade across Eurasia. China’s proclaimed aspiration is to reconnect to the world through its ancient trade corridors, and to emphasize its role as a world trade power. Should the BRI or “new silk road” be understood as efforts from President Xi Jinping to project China’s power into both Eurasia and at the global level? Should it moreover be understood as China’s step forward to fill the leadership vacuum left by a perceived weakening USA in terms of international relations? The present economic climate is characterised by uncertainty and turbulence at the global level, with some economies shifting towards protectionist practices, and others, such as the United Kingdom, trying to regain some international recognition outside the EU. This turbulent climate appears to benefit Beijing who can position itself as a new leader in the global political economy, notably through its BRI. The article discusses the issues raised by China’s ambition to shape the current international economic order.