Transcendence and Reshaping: The Concept, Mechanism and Realization Path of “One Belt, One Road” to Promote the Change of Global Economic Governance System
Year: 2025
Type: article
Abstract: Since the end of 2019 the new crown pneumonia epidemic has brought a profound impact on the world economy, the world economy has seen a large-scale contraction, economic and trade relations between major countries have faced great challenges, and economic forms such as trade protectionism and anti-globalization have been rapidly pursued, the new crown pneumonia epidemic has also led to the disruption of the global supply chain, and the industrial production of many countries has been seriously impacted, and the global political and economic landscape has undergone significant The global political and economic landscape has undergone significant changes, and global economic governance is facing numerous dilemmas, posing unprecedented challenges to the global economy. The shortcomings of the global economic governance mechanism dominated by developed countries have been highlighted, and the global governance mechanism dominated by developed countries is facing problems such as structural changes in the dominant forces, contradictions and conflicts between different forces, the evolution of the global governance system failing to keep pace with the development of globalization, the lack of opportunities for participation by disadvantaged groups and regions, and the diminishing dominant position of developed countries and other relevant countries in global governance. The Belt and Road Initiative advocated by China, based on its comprehensive national strength and the responsibility of a great power, advocates the building of a community of human destiny, adheres to the stance of multilateralism, upholds the concept of win-win cooperation and development, and focuses on the need to respond to global challenges and to promote changes in the global economic governance system. Based on a new type of development, multilateralism and economic globalization, China has participated in the transformation of the global economic governance system by strengthening global cooperation to prevent global economic risks, building a governance concept of a community of human destiny, formulating more balanced economic policies and rules, and realizing governance innovations in digital governance, so as to promote the improvement of the global economic governance environment conducive to the double cycle of mutual reinforcement. The Belt and Road Initiative advocated by China is a product of the changes in the world economy and the evolution of the international landscape, and its purpose is to conduct business on the basis of access to roads and navigation, to find a new impetus for the growth of the world economy, to respond to the deepening of economic globalization, and to realize the transcendence and reshaping of the pattern of global economic governance.
DOI: 10.54691/pfmtkx58
Author: Wendi Zhang
Language: English
Topic: Belt and Road Initiative
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4408043202