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ID160468
Title ProperEurope’s financial security and Chinese economic statecraft
Other Title Informationthe case of the Belt and Road Initiative
LanguageENG
AuthorPardo, Ramon Pacheco
Summary / Abstract (Note)The core of the Belt and Road Initiative (BRI) involves trillions of US$ in investment to increase and improve connectivity between China and different parts of the world. This includes tens of billions of US$ to build or upgrade roads, rail lines, ports, pipelines and other infrastructure to connect China with Europe. With the European continent still feeling the effects of the Global Financial and Eurozone Sovereign Debt crises, this is an opportunity to strengthen its financial security by gaining access to a new source of financing. This new source, however, is linked to Chinese economic statecraft. Thus, cash-starved Europe can tap on the recently launched Silk Road Fund, Maritime Silk Road Fund and other initiatives from the Chinese government. Concurrently, however, political divisions within Europe derived from Chinese investment, as well as normative differences in terms of standards and practices present a challenge to the continent. This article thus analyses the effects of BRI, presented as a tool of Chinese economic statecraft, on Europe’s financial security. It argues that in spite of the latent challenges to said security, the potential benefits have already led many European countries to seek to tap on BRI’s investment as a means to strengthen their financing position.
`In' analytical NoteAsia Europe Journal Vol. 16, No.3; Sep 2018: p.237–250
Journal SourceAsia Europe Journal Vol: 16 No 3
Key WordsEconomic Crisis ;  Finance ;  China ;  Europe ;  Economic Statecraft ;  Belt and Road


 
 
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