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

2018

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, capita…