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The Effectiveness of the ‘Belt and Road’ Initiative in Tackling China’s Economic Slowdown and Its Financial Implications Within a Policy Trilemma Context

In: Frontier Topics in Banking

Author

Listed:
  • Piotr Łasak

    (Jagiellonian University)

  • René W. H. Linden

    (Inholland and The Hague University of Applied Sciences)

Abstract

The research question is to what extent the Belt and Road initiative (BRI) plan will be effective in helping China bounce back from its economic slowdown and what its financial implications are in a policy trilemma context. The BRI was implemented in 2013 as a response to the economic slowdown in China and was intended to help the country’s transition to a slower, but structurally more balanced ‘new normal’ economic growth model. At the same time, China is facing many serious problems, such as a credit binge, a debt problem, and international trade and investment conflicts. The implementation of BRI and the accompanying financial liberalization and exchange rate and monetary adjustments will test the theory that it is impossible to combine free capital mobility, stable exchange rate management, and monetary autonomy.

Suggested Citation

  • Piotr Łasak & René W. H. Linden, 2019. "The Effectiveness of the ‘Belt and Road’ Initiative in Tackling China’s Economic Slowdown and Its Financial Implications Within a Policy Trilemma Context," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Elisabetta Gualandri & Valeria Venturelli & Alex Sclip (ed.), Frontier Topics in Banking, chapter 0, pages 321-369, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-16295-5_12
    DOI: 10.1007/978-3-030-16295-5_12
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