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Impact of the Belt and Road Initiative on China’s soft power: preliminary evidence

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  • Jan P. Voon
  • Xinpeng Xu

Abstract

Using latest available international survey data on soft power and China’s overseas direct investment (ODI) statistics, this paper examines if China’s Belt and Road Initiative (BRI), commonly perceived as an institution setup by China to build cross-border infrastructure to bolster trade and investment, had increased China’s international image or soft power. We find that the overall impact of ODI in BRI countries on China’s soft power is statistically insignificant over the period 2011 to 2016, yet further analysis reveals that the investments in the BRI countries along the land route bring significant improvement in China’s soft power.

Suggested Citation

  • Jan P. Voon & Xinpeng Xu, 2020. "Impact of the Belt and Road Initiative on China’s soft power: preliminary evidence," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 27(1), pages 120-131, January.
    • Handle: RePEc:taf:raaexx:v:27:y:2020:i:1:p:120-131
    DOI: 10.1080/16081625.2020.1686841
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    Cited by:

    1. Tianbo Wu & Dan Zhou & Hao Cheng & Keqiu Zhang & Yihao Jiang, 2023. "Research on the Policy Effects and Impact Mechanisms of the Belt and Road Initiative on China’s Forest Products Trade," Sustainability, MDPI, vol. 15(12), pages 1-17, June.
    2. Aislu Taisarinova & Giuseppe Loprencipe & Madina Junussova, 2020. "The Evolution of the Kazakhstani Silk Road Section from a Transport into a Logistics Corridor and the Economic Sustainability of Regional Development in Central Asia," Sustainability, MDPI, vol. 12(15), pages 1-20, August.
    3. Zhiwen Gong & Fung Chan & Yan Wu, 2021. "Borrowing Hong Kong’s International Standards: A Steppingstone for the Chinese “Belt and Road” Going Out?," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    4. Luís Miguel Marques & José Alberto Fuinhas & António Cardoso Marques, 2021. "China’s Effect on World Energy-Growth Nexus: Spillovers Evidence from Financial Development and CO 2 Emissions," Economies, MDPI, vol. 9(4), pages 1-24, September.

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