Impact of the One Belt and One Road Initiative on the European Maritime Field

Abstract

China is nowadays the most influential country in the world market, therefore the Chinese government introduced the One Belt and One Road project in 2013 in an attempt to reinforce its global power, including its major partner (Europe). In this paper the authors analyze the possible advantages and disadvantages that this Chinese initiative brings to the European market and the possible challenges that international policies may bring to the infrastructure created in recent years in the European Union. The authors concentrate on current examples based on China's COSCO Shipping and the influence that this initiative gives to the Chinese government in the world market. The aim of this paper is to present general overview on some of the consequences, positive or negative, of this important project.

Opportunities and challenges for the development of cooperation between China and Greece under the Belt and Road Initiative

“…It dominates the port and, as a result, the market and access to that port(Russell Montiel, Jugović, & Aksentijević, 2022). This will undoubtedly pose a threat to the European market, as the development of the port of Piraeus, for example, has already raised the importance of the Mediterranean as a hub for Chinese imports and exports, which is a huge challenge for Italy.…”

“…Furthermore, the issue of Chinese policies, especially privileges in Greece, could lead to huge gaps and negative effects on the ground (Europe). For example, COSCO Shipping, which is currently the largest shareholder in the Greek port of Piraeus and has privileges, dominates the port and therefore the market and access to that port (Russell Montiel et al, 2022). It can be argued that the development of the BRI has greatly influenced EU policy, particularly towards its 'near neighbours' and southern European member states (Ishmael, 2019).…”