Economic security of China: the implications of the belt and road initiative
Economic security of China: the implications of the belt and road initiative

Summary/Abstract: Goal – The aims of the research are to identify the most significant internal and external factorsaffecting the economic security of China and assess the importance of the Belt and Road Initiative forChina's future development.Research methodology – In order to organize internal and external determinants of economic securityof China, SWOT (strengths, weaknesses, opportunities and threats) analysis was applied. Moreover, animportant element of the research process was an attempt to verify hypothesis that the Belt and RoadInitiative is a key instrument of China’s economic security strategy.Score – China has transformed from a poor rural country into one of the main economic powersas a result of the economic reforms initiated in the late 1970s. However, we can observe that theeconomy of China is slowing down. In order to ensure economic security and maintain a stableeconomic growth as well as avoid the middle income trap China has introduced the Belt and RoadInitiative. Since its announcement, the concept has been gradually gaining in importance and has finallybecome the key instrument of the Chinese foreign policy and a major element of economicdevelopment strategy. The main motive behind this project is to develop transport and energyinfrastructure which will allow China to gain access to natural resources and new markets. An efficienttransport network will facilitate trade, while energy infrastructure will prevent problems with energyand resource supply, which the Chinese economy needs. The Belt and Road Initiative is a way ofboosting economic development of China through improving infrastructure from Asia to Africa andEurope and the establishment of trade links among all partner countries. The New Silk Road conceptaims to use the advantages of the Chinese economy and the states participating in the initiative tostimulate its economic growth. Therefore, it is a strategy of providing long-term economic security.Originality/value – The paper raises the issue of the Chinese economic security understood as along-term ability of the economy to achieve a relatively fast and sustainable economic growth. In thispaper, the author defines the concept of economic security and with the help of SWOT analysispresents the strengths and weaknesses of China’s economy as well as opportunities and possible threatsto its stability. Moreover, the paper includes comprehensive analysis of China’s motives behind the Beltand Road Initiative in the context of economic security of China.

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