ASEAN and the Belt and Road Initiative: Trust-building in Trade and Investment
Year: 2020
Type: article
Abstract: This article examines a number of trade and investment areas in which trust-building needs to occur between China and its ASEAN Belt and Road Initiative partners in order to better realize the economic benefits promised by the initiative. A number of economic goals of ASEAN converge with those of the BRI, such as those relating to building physical, regulatory and digital connectivity, and this convergence provides potential for joint economic growth and cooperation. Some of ASEAN’s urgent infrastructure needs, for instance, could be met through ASEAN-BRI collaboration. However, a number of issues which have arisen in BRI-related projects within and outside ASEAN need to be addressed in a convincing way, if ASEAN and China are to better achieve such economic goals. These include building trust by fostering confidence that the BRI brings domestic trade and investment benefits, good governance and financial and environmental sustainability, and in the newer field of digital connectivity, by ensuring meaningful dialogs and actions on the use of existing and emerging technology in the BRI.
Source: China and the World
Author: Locknie Hsu
Institution: Singapore Management University
Language: English
Topic: Belt and Road Initiative
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W3013478045