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China’s Belt and Road Initiative: Challenges in ASEAN
Mr Phidel Marion G. Vineles Senior Analyst
Mr Phidel Marion G. Vineles
Belt and Road Initiative (BRI) is described as the most ambitious international economic cooperation of China, which covers 64 per cent of global population and 30 per cent of the world’s gross domestic product (GDP). It covers vast sub-regions in Asia, Europe, and Africa with the goal of stimulating economic development of the countries along the BRI routes. The ambitious Initiative is expected to boost ASEAN’s overall GDP through a swathe of infrastructure projects that are estimated to worth billions of dollars. However, BRI’s implementation across the region faces challenges, including growing scepticism about the Initiative, China’s South China Sea’s territorial disputes with some ASEAN member states (AMS), high involvement of Chinese state-owned enterprises (SOEs) in the projects, and uncertainties about debt trap. Against this backdrop, it is important for China to implement policy measures that are designed to realise successful BRI projects in ASEAN.
|Theme:||Country and Region Studies / International Political Economy / International Politics and Security / Regionalism and Multilateralism|
|Region:||Southeast Asia and ASEAN|