BELT AND ROAD INITIATIVE: MARSHALLING REGIONAL CONNECTIVITY

Abstract

Belt and Road Initiative (BRI) as a vision of shared prosperity is different from colonial and imperial powers. China‘s rise to the status of great power has greater role to contribute in geo-economics and development of Eurasian region through BRI. There is a plethora of literature published in mainstream academia about pros and cons of the BRI, although it is being projected that the cons are overshadowing pros and those countries becoming part of BRI will have to bear the cost of it in terms of China‘s so-called debt diplomacy and Beijing‘s influence over foreign policies of other countries. This dissertation, through logical argument building and primary data refutes such unfound and frail arguments. China from civilization times did not expand its territorial boundaries whereas it enjoyed clear supremacy in tributary system where small neighbours paid tribute to China and it acted as a big-brother. China‘s rise is perceived by the U.S. as strategic threat to U.S. and its global-system of liberal democracy and free trade. China is not likely to be revisionist power due to its power to blend with global system despite stark difference of governance. China-Pakistan Economic Corridor (CPEC) is a corridor of opportunity for Pakistan especially underdeveloped province of Balochistan and KPK.This promising opportunity has immense potential of uplifting locals and improve infrastructure providing China an alternate to Mallaca strait on the one hand and revolutionizing infrastructure development in Pakistan on the other hand. CPEC is also being made controversial through organized media campaigns and academic discourses. The basic objective of this doctoral study is to critically examine the ramifications of BRI and its associated projects such as CPEC on the regional and global economic connectivity. This dissertation applied theory of complex interdependence to unfold potential of regional cooperation under the BRI. This dissertation is an answer to three primary and secondary questions i.e. (i) What are the BRI geopolitical and geoeconomic aspects? (ii) Has the BRI lost its attractions among its participants? (iii) How CPEC contributes in the economic prosperity of Pakistan? The literature produced on BRI is partially partisan as it ignores developmental plan and their far-reaching regional implications for developing countries but pinpoints possible flaws in the project. xii The doctoral dissertation is a descriptive analysis of the available data on the BRI to explore different factors that played a part in the development of the project. The data was gleaned from both primary and secondary sources but the research at hand mostly comprises of secondary data. BRI is not mere a project but a vision of Chinese leadership. This study touches upon Silk Road Economic Belt (SREB), China-Mongolia-Russia Land Economic Corridor(CMREC),China-Central Asia and West Asia Economic Corridor(CCAWAC),21st Century Maritime Silk Road, China-Indo-China Peninsula Economic Corridor(CICPEC) and Bangladesh-China-India-Myanmar Economic Corridor(BCIMEC).CPEC is being discussed as a flagship project of the BRI with its regional implications in the context of geoeconomics and geopolitics. CPEC energy projects, Gwadar Port, Special Economic Zones (SEZs), Optical Fiber networks, and securing energy supplies to China via CPEC are likely to benefit China as well as Pakistan and regional economies. Threats to CPEC are being addressed by establishing CPEC authority. Regional connectivity has power to trigger engine of economic growth which is like to be sustainable in the upcoming decades. China‘s connectivity with Central Asia and Middle East will open up new avenues of cooperation by increasing interdependence between China and regional economies. The BRI is being made as a part of China‘s constitution because if completed, it guarantees China‘s shared vision of prosperity couple with massive amount of soft power. Rise of China poses serious threats to the U.S. hegemony as well as latter‘s vested interests in Asia-Pacific. U.S. is set to invigorate Quad (Australia, Japan, India and the U.S.) to counter China‘s influence through BRI and engage into law-fare and diplomatic overtures. U.S. diplomatic maneuvers to term BRI as debt trap does not hold much water as the number of states signed up for BRI are more than 65, which reflects the promised opportunities of BRI more vigorous than costs. China‘s technological prowess is likely to counter U.S. influence in the Asian region. This dissertation concludes with logical points regarding BRI‘s implications for regional and global partners. It also underlines the opportunities under BRI overshadow challenges emanating from it.