6533b851fe1ef96bd12aa18c

RESEARCH PRODUCT

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

Wei LiangCristina Elena Popa

subject

GovernmentNational interestEconomic policyOrder (exchange)Capital (economics)Control (management)media_common.cataloged_instanceBusinessSuperpowerEuropean unionChinamedia_common

description

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, capital and technology. However, more and more countries want to limit China’s ability to buy European companies in sectors of national interest. The challenge is for these measures to ensure control, but do not block the much-needed investments that countries need.

yearjournalcountryeditionlanguage
2018-01-01
https://doi.org/10.1007/978-3-030-01878-8_25