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China’s Economic soft power and Challenges in OBOR Project: a Study Based on China

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  • P.K.B. Isuru Premarathna

    (University of Kelaniya, Sri Lanka)

Abstract

The One Belt One Road (OBOR) initiative is a historical landmark that intends to plug in more than two-thirds of the world population and spreading up the windows for reviving global business, peace and infrastructure development across the lands. The main aim of this document is to discuss the OBOR initiative in general and to analyze its contribution to the economy and development. This study explores the influence of Chinese economic soft power and the mode of action that the political strategies have in the economic process. The major research problems is what are china’s soft power and Economic foreign policy framework, the political economy of the OBOR initiative, what are the benefits of the OBOR initiative in different countries and challenges? The Research methodology is qualitative research. Secondary information was gathered through a literature review and reference sources such as legislation, international treaties, academic literature, journal articles and sources. The key finding of the research, China’s soft power and economic foreign policy are strong and the economic strategies and opportunities have huge. Also, this project is a very important economic soft power, through this project, China has emerged as the world’s leading economic pilot. The OBOR project encourages mobility and economic cooperation among the countries of Europe, Asia and Africa. China somehow manages to increase its exports even more it would give the Chinese economy some well-needed breathing space and a way to pay off their accrued debts. China is Pakistan’s largest trading partner, with total volume exceeding $20 billion and through the railway track expansion under OBOR the bilateral trade will become more accessible and beneficial for Pakistan too.

Suggested Citation

  • P.K.B. Isuru Premarathna, 2021. "China’s Economic soft power and Challenges in OBOR Project: a Study Based on China," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(3), pages 472-482, March.
    • Handle: RePEc:bcp:journl:v:5:y:2021:i:3:p:472-482
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    References listed on IDEAS

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    1. Tahir Andrabi & Jishnu Das, 2017. "In Aid We Trust: Hearts and Minds and the Pakistan Earthquake of 2005," The Review of Economics and Statistics, MIT Press, vol. 99(3), pages 371-386, July.
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