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The New Silk Road, part II: implications for Europe

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Abstract

Through the New Silk Road (NSR) initiative, China increasingly invests in building and modernizing overland and maritime infrastructures with a view to enhancing the overall connectivity between China and Europe. The NSR runs through a number of Eurasian emerging markets and extends to Southeastern Europe (SEE), where Chinese investments include the modernization of ports and highspeed rail and road projects to speed up the transport of goods between China and Europe (e.g. port of Piraeus, rail connection to Budapest). Participation in the NSR will probably stimulate SEE’s economic expansion and may even contribute to overcoming its traditional peripheral position in Europe. Ideally, SEE will play a role in catalyzing a deepening of China-EU economic relations, e.g. by facilitating European exports to China and other countries along NSR trajectories, which would boost growth in Europe more widely. In the long run, these developments might also influence the EU’s political and economic positioning on a global scale.

Suggested Citation

  • Stephan Barisitz & Alice Radzyner, 2017. "The New Silk Road, part II: implications for Europe," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q4/17, pages 70-81.
  • Handle: RePEc:onb:oenbfi:y:2017:i:q4/17:b:2
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    Cited by:

    1. Hake, Mariya & Radzyner, Alice, 2019. "Western Balkans: Growing economic ties with Turkey, Russia and China," BOFIT Policy Briefs 1/2019, Bank of Finland Institute for Emerging Economies (BOFIT).
    2. K. Czerewacz-Filipowicz & A. Konopelko, 2020. "Can the EAEU Deliver External Integration to Business?," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 515-528.
    3. Cheche Duan & Yicheng Zhou & Dehong Shen & Shengqiao Lin & Wei Gong & József Popp & Judit Oláh, 2021. "The Misunderstanding of China’s Investment, and a Clarification: “Faustian Bargain” or “Good Bargain”? On the OFDI Data of Central and Eastern Europe," Sustainability, MDPI, vol. 13(18), pages 1-25, September.

    More about this item

    Keywords

    New Silk Road; One Belt; One Road; connectivity; trade infrastructure; economic;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • N75 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Asia including Middle East
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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