China's "One Belt, One Road" Initiative: Economic Issues
Date of Publication
1-1-2023 12:00 AM
Security Theme
Critical Infrastructure
Keywords
China, BRI, investment, energy, FDI, state-owned firms, State Grid, CRRC, China Three Gorges
Description
The People’s Republic of China (PRC or China) in 2013 launched an ambitious and multifaceted foreign economic policy initiative—One Belt, One Road—to expand China’s global economic reach and influence. In 2015, China’s leaders changed the English name to the Belt and Road Initiative (BRI), possibly to deflect from the initiative’s focus on developing China-centered and controlled global ties in a hub and spoke format. The Communist Party of China (CPC) incorporated the initiative into the Party’s Charter in 2017 and reaffirmed its significance in the November 2022 Work Report of the CPC’s 20th Party Congress and in a January 2021 State Council White Paper. Some in Congress assess that One Belt, One Road projects advance China’s geopolitical and economic goals while undercutting U.S. influence and challenging U.S. interests.
China's "One Belt, One Road" Initiative: Economic Issues
The People’s Republic of China (PRC or China) in 2013 launched an ambitious and multifaceted foreign economic policy initiative—One Belt, One Road—to expand China’s global economic reach and influence. In 2015, China’s leaders changed the English name to the Belt and Road Initiative (BRI), possibly to deflect from the initiative’s focus on developing China-centered and controlled global ties in a hub and spoke format. The Communist Party of China (CPC) incorporated the initiative into the Party’s Charter in 2017 and reaffirmed its significance in the November 2022 Work Report of the CPC’s 20th Party Congress and in a January 2021 State Council White Paper. Some in Congress assess that One Belt, One Road projects advance China’s geopolitical and economic goals while undercutting U.S. influence and challenging U.S. interests.
