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China’s New Silk Road: a stocktaking update and economic review (2017–2019)

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Abstract

This study is an update of an initial overview by Barisitz and Radzyner (2017a) in the present journal. The Belt and Road Initiative (BRI) corresponds to an enormous international infrastructure investment program focusing on Asia, Africa and Europe. BRI projects are predominantly credit-based and financed by Chinese sources. So far, about USD 450 billion have been spent or earmarked. While not without setbacks and substantial risks, many BRI projects appear to have progressed since 2017. The present project-oriented update attempts to fill a void and shed some light on a number of key undertakings in the above three global regions. Against the backdrop of the evolving U.S.-China trade conflict, the BRI may ultimately provide China with an alternative geo-economic perspective.

Suggested Citation

  • Stephan Barisitz, 2020. "China’s New Silk Road: a stocktaking update and economic review (2017–2019)," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q1/20, pages 20-50.
    • Handle: RePEc:onb:oenbfi:y:2020:i:q1/20:b:2
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    1. de Soyres, François & Mulabdic, Alen & Ruta, Michele, 2020. "Common transport infrastructure: A quantitative model and estimates from the Belt and Road Initiative," Journal of Development Economics, Elsevier, vol. 143(C).
    2. Amat Adarov & Mahdi Ghodsi & Domenico M. Nuti & Oliver Reiter, 2018. "Monthly Report No. 7-8/2018," wiiw Monthly Reports 2018-07-08, The Vienna Institute for International Economic Studies, wiiw.
    3. Amat Adarov & Vasily Astrov & Alexandra Bykova & Rumen Dobrinsky & Richard Grieveson & Julia Grübler & Doris Hanzl-Weiss & Peter Havlik & Philipp Heimberger & Mario Holzner & Gabor Hunya & Michael Lan, 2018. "Strong Growth Amid Increased Negative Risks," wiiw Forecast Reports Autumn2018, The Vienna Institute for International Economic Studies, wiiw.
    4. Stephan Barisitz, 2017. "Central Asia and the Silk Road," Studies in Economic History, Springer, number 978-3-319-51213-6, June.
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    More about this item

    Keywords

    New Silk Road; Belt and Road Initiative; connectivity; transportation; trade infrastructure; energy; digital; economic corridors; regional policy; China; Eurasia; Africa;
    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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