And many Belt and Road countries have asked specifically for such support to make sure that the Belt and Road initiative helps them meet their sustainable development needs. Baker Hall MS-40, Suite 120 In fact, the biggest contribution of the BRI to the world lies in the innovation of global economic governance. Therefore, the most important issue for China in the next step is to conduct a better analysis of the interests of various stakeholders, including itself. More than 130 countries are under the BRI initiative, according to Beijing-based research firm Green Belt and Road Initiative Center. The BRI China launched was well-thought and would certainly benefit China in terms of economic development, industrial upgrading and transformation, RMB internationalization, and regional integration among other things. Problems with China's Belt & Road Initiative. The risks are especially acute for the small and fragile economies of the Pacific. Zimbabwe’s Kunzvi Dam electricity project was one of about 15 under China’s Belt and Road Initiative to run into difficulties last year. Third, multiple frameworks of financing mechanisms have formed to provide support for the BRI. The stability and prosperity of the countries along the BRI are in line with both the interests of China and the United States. The Belt and Road Initiative. And soon after his election, he announced his support for perhaps the world’s largest economic project, the One Belt, One Road Initiative (BRI). Our analysis, however, finds a nuanced picture. The Belt and Road Initiative (BRI) is frequently portrayed as a geopolitical strategy that ensnares countries in unsustainable debt and allows China undue influence. Xi Jinping’s signature plan has captured the world’s attention since its announcement in 2013, with comparisons drawn to the ancient Silk Road and the Marshall Plan. Therefore, we should focus our attention on communication with the American public, think tanks, and media on the importance and benefits of BRI so we can build the broadest, most comprehensive, and actively participated BRI community of shared interest. In fact, I’d argue that the BRI is stalled. Another extreme is sometimes the implementing agencies put too much emphasis on the benefits of the BRI for China itself, especially only calculating the narrow interests of businesses without considering the concerns of local governments, communities, and companies. First, a consensus has been reached at the governmental level with a large number of countries. All countries can voluntarily choose their own ways and approaches to joining in based on their own needs. Kokas’ current research focuses on the circulation of U.S. environmental media on Chinese social …, Center for Energy StudiesCenter for Health & BiosciencesCenter for the Middle EastCenter for Public FinanceCenter for the United States and MexicoMcNair CenterBiomedical ResearchChina StudiesDrug PolicyInternational EconomicsLatin America InitiativePresidential ElectionsReligion & Public PolicyScience & Technology PolicySpace Policy, Donate Now Join the Roundtable Roundtable Emerging Leaders Major Gifts Endowments Corporate Support Planned Giving Support Students Additional Support, Internship Opportunities Student Forum Student Voices Graduate Students, About the Architecture Frequently Asked Questions Relationship to Rice University, Research Library Expert Directory Events Calendar Media Latest News, 6100 Main Street The One Belt, One Road Initiative. She has published in many …, Aynne Kokas, Ph.D., is a nonresident scholar for the Baker Institute China Studies Program and an assistant professor of media studies at the University of Virginia. However, the project is a public good for regional and global economic development, and therefore can also benefit countries beyond the BRI. There are various stakeholders relevant to the implementation of the BRI; however, China has mostly been engaging with the government bodies without paying sufficient attention to the concerns of businesses, civil society organizations, and local communities. Houston, TX 77005, Email: bipp@rice.edu “If Belt and Road investment is used wisely, we should see the productive capacity of BRI countries increasing,” Taylor said. With the enhanced infrastructure connectivity, deepening of economic cooperation, and increasing interactions between people, better political and diplomatic relations can develop between and among countries under the BRI, which is beneficial for China and other countries involved. Launched in 2013 by Chinese President Xi Jinping, the OBOR is a short term for the Silk Road Economic Belt (One Belt) and the 21st Century Sign up to receive The Evening, a daily brief on the news, events, and people shaping the world of international affairs. For example, the United States is a global power with global interests, though it hasn’t joined nor expressed its support for the BRI, its attitudes and the interaction between China and the United States can certainly exert an impact on this initiative. Specifically, China needs to deal with the following questions. The Belt and Road Initiative (BRI), also known as One Belt, One Road (OBOR), is China‟s highly ambitious development project aimed at resurrecting the Chinese ancient Silk Road and realizing the Chinese dream. But recently, worldwide coverage of the Belt and Road Initiative has grown less favorable and more critical. China’s Belt and Road Initiative (BRI) is a President Xi Jinping policy aimed at improving China’s “connectivity” with the rest of the world. Furthermore, some countries are positive about the BRI but not willing to make their own contributions. The Belt and Road Initiative is an ambitious development strategy introduced by Xi in 2013 as One Belt One Road (OBOR). China is not simply … And so, at the Belt and Road Summit in Beijing this week, UN Environment and China’s Ministry of Environmental Protection will announce the International Coalition for Green Development on Belt and Road. Many of those countries are in Europe, Africa, and Central Asia. A brief historical review would be needed to view this problem. A lot of progress has been made thus far. Considering the increasingly complicated challenges we face and the lagging of the reform of international institutions, the first step for China should be working toward a community of common interest before talking about building a community of common destiny. Photo: Handout Belt and Road Initiative Illustration: Jayachandran/Mint Opinion | The many problems with China Belt and Road Initiative 4 min read. On the one hand, China has not been effective in conducting external communication about the BRI and its implementation approach in the early stage. How can we bring nations outside BRI to join this initiative? The initiative focuses on connectivity and cooperation involving nations in … They have rich experience, advanced technology, and ample funding, and we should certainly create the right conditions for cooperation among Chinese, American, and local firms. Despite these achievements and progress, we should not neglect the problems during the implementation of the BRI. By the end of 2016, more than 100 countries had expressed their support for and willingness to participate in the building of the BRI project, and 39 countries and international organizations have signed 46 agreements with China for this.1. It has been nearly three years since Chinese President Xi Jinping launched the Belt and Road Initiative (BRI) in the autumn of 2013. [1] National Development and Reform Commission of the People's Republic of China, Building the Belt and Road: Concept, Practice and China's Contribution , May 2017, http://www.ndrc.gov.cn/gzdt/201705/t20170511_847228.html. What really concerns the United States may be not the closer relations between China and countries along the BRI, but the fact that the completely different concept China introduced brought great challenges to its leadership. Updated: 05 Aug 2018, 05:32 PM IST Livemint. Political-economy dynamics and governance problems on both sides have led to poorly conceived and managed projects.