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China’s Belt and Road Initiative and international business: The overlooked centrality of politics

Author

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  • Arie Y. Lewin

    (Duke University)

  • Michael A. Witt

    (INSEAD)

Abstract

What is the significance of China’s Belt and Road Initiative (BRI) for international business research? Most studies in the field have approached this question from the perspective of the individual firm or industry, with an emphasis on its business or economic impact. Yet the BRI is, at its core, a political initiative that plays out domestically and internationally. Our objective for this commentary is to complement the existing IB literature on the BRI by outlining the domestic and geopolitical objectives of the BRI and linking them to big, new IB research questions. Domestically, we stress the importance of the BRI for the legitimacy of Communist Party rule in the context of slowing growth and overcapacity. At the international level, we explore the role of the BRI in advancing China’s geopolitical position, not least vis-à-vis the United States, as well as its potential to provide a nucleus around which a new, alternative world economic order may form. We conclude with a discussion of implications for policy and business research in IB.

Suggested Citation

  • Arie Y. Lewin & Michael A. Witt, 2022. "China’s Belt and Road Initiative and international business: The overlooked centrality of politics," Journal of International Business Policy, Palgrave Macmillan, vol. 5(2), pages 266-275, June.
    • Handle: RePEc:pal:joibpo:v:5:y:2022:i:2:d:10.1057_s42214-022-00135-y
    DOI: 10.1057/s42214-022-00135-y
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    References listed on IDEAS

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    Cited by:

    1. Witt, Michael A. & Lewin, Arie Y. & Li, Peter Ping & Gaur, Ajai, 2023. "Decoupling in international business: Evidence, drivers, impact, and implications for IB research," Journal of World Business, Elsevier, vol. 58(1).
    2. Ilan Vertinsky & Yingqiu Kuang & Dongsheng Zhou & Victor Cui, 2023. "The political economy and dynamics of bifurcated world governance and the decoupling of value chains: An alternative perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(7), pages 1351-1377, September.
    3. Jiatao Li & Ari Van Assche & Xiaolan Fu & Lee Li & Gongming Qian, 2022. "The Belt and Road Initiative and international business policy: A kaleidoscopic perspective," Journal of International Business Policy, Palgrave Macmillan, vol. 5(2), pages 135-151, June.

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