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The Impact of China’s “Belt and Road Initiative” on the European Union

In: Innovative Business Development—A Global Perspective

Author

Listed:
  • Cristina Elena Popa

    (Lucian Blaga University of Sibiu)

  • Wei Liang

    (East China University of Science and Technology, School of Business)

Abstract

After introducing the 1978 reforms, China shifted from a centrally-planned to a market-based economy. The success of these economic reforms has been immense, as today China has become a leading player in the world’s economy. In order to achieve the goal of becoming the world’s biggest superpower within the next 30 years, China’s 13th Five Year Plan (2016–2020) increased the government’s focus on innovation, with particular emphasis on infrastructure development. In this article, we have analyzed the impact of China’s “Belt and Road Initiative” on the European Union. China’s investments have a positive impact on the economic growth of the EU member countries, as they provide new jobs, capital and technology. However, more and more countries want to limit China’s ability to buy European companies in sectors of national interest. The challenge is for these measures to ensure control, but do not block the much-needed investments that countries need.

Suggested Citation

  • Cristina Elena Popa & Wei Liang, 2018. "The Impact of China’s “Belt and Road Initiative” on the European Union," Springer Proceedings in Business and Economics, in: Ramona Orăștean & Claudia Ogrean & Silvia Cristina Mărginean (ed.), Innovative Business Development—A Global Perspective, pages 301-314, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-01878-8_25
    DOI: 10.1007/978-3-030-01878-8_25
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