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Effects of the Belt and Road Initiative on the Global Economy

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The Belt and Road Initiative and the Global Economy

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Abstract

The effects of the BRI on the global economy and its economic transformation are discussed. It highlights the shift of economic power towards emerging economies, especially towards China, and the decline of advanced economies which will have a considerable impact on international trade and international relations. The gravity of the global economy, its development and trade has been shifting and consequently is expected to promote regional economic growth. The possibility of the emergence of multiple equilibria amongst emerging countries is also discussed together with the effect of the New Global Production Networks. The emerging economies may benefit from the flying geese phenomenon by following China’s experience of economic growth, which may lead towards a virtuous circle of economic development.

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Authors and Affiliations

  1. Shui Mu Shan Cheng, Fushun, Liaoning, China

    John Joshua

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Joshua, J. (2019). Effects of the Belt and Road Initiative on the Global Economy. In: The Belt and Road Initiative and the Global Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-28068-0_6

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  • DOI: https://doi.org/10.1007/978-3-030-28068-0_6

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-030-28067-3

  • Online ISBN: 978-3-030-28068-0

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