Journals / Ulisa: Uluslararası Çalışmalar Dergisi / 2021 / Cilt: 5 Sayı: 2

China’s Proactive Strategy to Breach the Turn in Global Economic Order: Placing the Belt and Road Initiative in between Globalization and Regionalization Trends

Çin'in Proaktif Küresel Ekonomik Düzendeki Dönüşü Aşma Stratejisi: Kuşak ve Yol Girişimi'ni Küreselleşme ve Bölgeselleşme Trendleri Arasına Oturtmak

Sinan Caner Yamak(Waseda University, Graduate School of Asia-Pacific Studies)0000-0002-6753-3026
Pages
96–104
Publication Date
2021-12-31
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

It is claimed that the BRI is a breakthrough attempt of China to breach the changing trend from globalization towards regionalization in the world economy started after the 2008 Financial Crisis.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Since the Belt and Road Initiative is introduced, there has been an ongoing controversy on how to define its politicaleconomic character.
📊
Key Findings & Data:This paper suggests that the BRI should be considered as a proactive strategy of China in response to the changing dynamics in the global system, in accordance with China's particular domestic and international concerns.
💡
Conclusion & Impact:It is claimed that the BRI is a breakthrough attempt of China to breach the changing trend from globalization towards regionalization in the world economy started after the 2008 Financial Crisis.
🔬Design:Review & Systematic Survey
📍Scope:2008 Verileri
⚙️Variables:Kuşak ve Yol Girişimi · Küreselleşme · ters Küreselleşme

Abstract

Since the Belt and Road Initiative is introduced, there has been an ongoing controversy on how to define its politicaleconomic character. This paper suggests that the BRI should be considered as a proactive strategy of China in response to the changing dynamics in the global system, in accordance with China's particular domestic and international concerns. Utilizing the discussions on globalization and regionalization, it reviews different approaches on the BRI and narrates the relevant arguments in a wider perspective. It is claimed that the BRI is a breakthrough attempt of China to breach the changing trend from globalization towards regionalization in the world economy started after the 2008 Financial Crisis.

Özet

İlan edildiğinden bu yana Kuşak ve Yol Girişimi'nin siyasal-iktisat karakterinin nasıl tanımlanacağına dair bir tartışma süregelmekte. Bu makale Kuşak ve Yol Girişimi'nin küresel düzendeki değişen dinamiklere karşılık Çin'in kendi ulusal ve uluslararsı öncelikleri doğrultusunda geliştirdiği proaktif bir strateji olarak değerlendirilmesi gerektiğini önerir. Literatürdeki mevcut argümanları özetleyerek tarihsel bir perspektifin içine yerleştirir. Kuşak ve Yol Girişimi'nin Çin'in 2008 Finansal Krizi sonrası dünya ekonomisindeki küreselleşmeden bölgeselleşmeye doğru değişen trendi aşma projesi olduğunu savunur.

🔖

Cite This Article

Yamak, S. C. (2021). China’s Proactive Strategy to Breach the Turn in Global Economic Order: Placing the Belt and Road Initiative in between Globalization and Regionalization Trends. Ulisa: Uluslararası Çalışmalar Dergisi, Cilt: 5 Sayı: 2, 96–104. https://ajindex.com/articles/1563277

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (33)

  1. Alon, I., Zhang, W., & Lattemann, C. (2018). Introduction. In W. Zhang, I. Alon, & C. Lattemann (Eds.), China’s Belt and Road Initiative: Changing the Rules of Globalization (pp. 1–13). Springer International Publishing. https://doi.org/10.1007/978-3-319-75435-2_1
  2. Andornino, G. B. (2017). The Belt and Road Initiative in China’s Emerging Grand Strategy of Connective Leadership. China and World Economy, 25(5), 4–22. https://doi.org/10.1111/cwe.12211
  3. Aoyama, R. (2016). “One Belt, One Road”: China’s New Global Strategy. Journal of Contemporary East Asia Studies, 5(2), 3–22. https://doi.org/10.1080/24761028.2016.11869094
  4. Baldwin, R., & Martin, P. (1999). Two Waves of Globalization: Superficial Similarities, Fundamental Differences. In Globalization and Labor (No. 6904). http://www.nber.org/papers/w6904
  5. Cai, K. G. (2018). The One Belt One Road and the Asian Infrastructure Investment Bank: Beijing’s New Strategy of Geoeconomics and Geopolitics. Journal of Contemporary China, 27(114), 831–847. https://doi.org/10.1080/10670564.2018.1488101
  6. Enderwick, P., & Buckley, P. J. (2020). Rising regionalization: will the post-COVID-19 world see a retreat from globalization? Transnational Corporations, 27(2), 99–112. https://doi.org/10.18356/8008753a-en
  7. Ferguson, N., & Schularick, M. (2007). ‘Chimerica’ and the Global Asset Market Boom. International Finance, 10(3), 215–239. https://doi.org/10.1111/j.1468-2362.2007.00210.x
  8. Gao, M. H. (2018). Globalization 5.0 Led by China: Powered by Positive Frames for BRI. In China’s Belt and Road Initiative: Changing the Rules of Globalization (pp. 321–335). Springer International Publishing. https://doi.org/10.1007/978-3-319-75435-2_17
  9. Gul, S., Umer, S., & Malik, M. S. (2018). China’s Belt and Road Initiative (BRI): Debt Quagmire or a Ridge Rope for Struggling Economies. Global Economics Review, III(I), 62–70. https://doi.org/10.31703/ger.2018(III-I).07
  10. He, Y. (2017). China’s new role in global governance: Shaping the emerging world order. China Quarterly of International Strategic Studies, 3(3), 341–355. https://doi.org/10.1142/S2377740017500221
  11. Holslag, J. (2017). How China’s New Silk Road Threatens European Trade. The International Spectator, 52(1), 46–60. https://doi.org/10.1080/03932729.2017.1261517
  12. Hui, Z., Qiangming, Y., & Li, N. (2021). BRI Infrastructure Development and Economic Growth. China Economist, 16(3), 26–61. https://doi.org/10.19602/j.chinaeconomist.2021.05.02
  13. Jones, H. (2010). CHINAMERICA: The Uneasy Partnership that Will Change the World. McGrawHill.
  14. KWAN, C. H. (2013). Trade Structure of China Becoming More Sophisticated: Changing complementary and competitive relationships with other countries. RIETI. https://www.rieti.go.jp/en/china/13060502.html
  15. Liu, Q. (2020). China’s One Belt One Road Initiative—A Debt Trap? [University of Denver]. https://www.proquest.com/docview/2447505702?pq-origsite=gscholar&fromopenview=true
  16. Liu, W., & Dunford, M. (2016). Inclusive globalization: unpacking China’s Belt and Road Initiative. Area Development and Policy, 1(3), 323–340. https://doi.org/10.1080/23792949.2016.1232598
  17. Livesey, F. (2018). Unpacking the possibilities of deglobalisation. Cambridge Journal of Regions, Economy and Society, 11(1), 177–187. https://doi.org/10.1093/cjres/rsx030
  18. Mehanna, R.-A. (2008). Globalization Versus Regionalization: And the Winner Is…. Journal of Transnational Management, 13(4), 287–317. https://doi.org/10.1080/15475770802574485
  19. NDRC. (2015). Vision And Actions On Jointly Building Silk Road Economic Belt And 21st-Century Maritime Silk Road. Belt and Road Portal. https://eng.yidaiyilu.gov.cn/qwyw/qwfb/1084.htm
  20. O’Sullivan, M. (2019). The Levelling: What’s Next After Globalization. PublicAffairs.
  21. Pisani-Ferry, J. (2021). The End of Globalization as We Know It. Project Syndicate. https://www.project-syndicate.org/commentary/future-of-globalization-national-priorities-international-threats-by-jean-pisani-ferry-2021-06
  22. Rajah, R. (2020). Roland Rajah (No. 1; Issue 2019). https://www.lowyinstitute.org/sites/default/files/East Asia%27s Decoupling_1.pdf
  23. Rodrik, D. (2011). The Globalization Paradox: Democracy and the Future of the World Economy. W. W. Norton.
  24. Rodrik, D. (2019). Globalization’s Wrong Turn and How it Hurt America. Foreign Affairs, 98(4).
  25. Rolland, N. (2017). China’s “Belt and Road Initiative”: Underwhelming or Game-Changer? The Washington Quarterly, 40(1), 127–142. https://doi.org/10.1080/0163660X.2017.1302743
  26. Sukar, A., & Ahmed, S. (2019). Rise of trade protectionism: the case of US-Sino trade war. Transnational Corporations Review, 11(4), 279–289. https://doi.org/10.1080/19186444.2019.1684133
  27. Therborn, G. (2000). Globalizations: Dimensions, Historical Waves, Regional Effects, Normative Governance. International Sociology, 15(2), 151–179. https://doi.org/10.1177/0268580900015002002
  28. Wade, R. H. (2004). Is globalization reducing poverty and inequality? World Development, 32(4), 567–589. https://doi.org/10.1016/j.worlddev.2003.10.007
  29. Wang, Z., & Sun, Z. (2021). From Globalization to Regionalization: The United States, China, and the Post-Covid-19 World Economic Order. Journal of Chinese Political Science, 26(1), 69–87. https://doi.org/10.1007/s11366-020-09706-3
  30. Wei, S.-J., & Frankel, J. A. (1996). Can regional blocs be a stepping stone to global free trade? a political economy analysis. International Review of Economics & Finance, 5(4), 339–347. https://doi.org/10.1016/S1059-0560(96)90021-0
  31. Witt, M. A. (2019). De-globalization: Theories, predictions, and opportunities for international business research. Journal of International Business Studies, 50(7), 1053–1077. https://doi.org/10.1057/s41267-019-00219-7
  32. World Bank. (2019). Belt and Road Economics: Opportunities and Risks of Transport Corridors. Washington, DC: World Bank. https://doi.org/10.1596/978-1-4648-1392-4
  33. Yilmaz, S., & Li, B. (2020). The BRI-Led Globalization and Its Implications for East Asian Regionalization. Chinese Political Science Review, 5(3), 395–416. https://doi.org/10.1007/s41111-020-00145-2