China has adopted a much more global vision with[1] its foreign expansion policy, which it started with Deng Xiaoping in 1978. The policy in question developed on an economic basis. This foreign expansion policy has resulted in the rapid growth of the Chinese economy. This growth started to bear fruit in the 2000s, and after the global economic crisis[2] that started in 2008, China overtook Japan in 2010 to become the world’s second largest economy.[3]
On the other hand, it is predicted by many analysts and academics that China will overtake the United States of America (USA) in 2050 to become the world’s largest economy. As a matter of fact, it is known that the said growth of China creates a great global competition between Beijing and Washington. As a matter of fact, it can be said that this competition has geopolitical, geoeconomic and geostrategic dimensions. It can be stated that China’s Belt and Road Initiative has a very important role in this. Because the mentioned initiative provides China with different advantages in many dimensions.
In this context, to mention the brief history of the Belt and Road Initiative, it is worth mentioning that the initiative was announced[4] in 2013 by Chinese President Xi Jinping after a visit to Central Asian states. The 18th National Congress of the Communist Party of China (CCP) was held in Beijing, the capital of China, in November 2012. Until this congress, it can be said that since 2002, China has not had a clear strategy against neighboring countries. Therefore, at the said congress, the importance of Beijing developing a new strategy regarding the countries around it was emphasized. This proved that China would enter a new breakthrough process with Xi’s presidency.
In 2013, Xi mentioned the Belt and Road Initiative in his speech at Kazakhstan’s Nazarbayev University.[5] Xi stated that the initiative will build collaborations. Again, in November 2013, in a speech he made in Indonesia, Xi announced that they were ready to implement the Maritime Silk Road Project in a coordinated manner and stated that the aforementioned project would improve the cooperation between China and the Southeast Asian Nations Association (ASEAN) countries.[6]
In addition to all these, both the “Silk Road Economic Belt” and the “21. Century Economy Generation” was brought to the agenda for the first time at the meeting called China’s Environmental Diplomacy Forum. It was underlined that China’s dialogue with the countries in its immediate vicinity should be strengthened within the scope of the Maritime Silk Road Project. Shortly after that, at the Third Plenary Meeting of the CCP Central Committee, it was decided that both projects would be articulated and named as the “Belt and Road Initiative”. According to this decision, the Belt and Road Initiative became the official state initiative of China.[7]
It can be stated that the initiative in question has an important role in China’s building alliances, developing alliance relations and increasing cooperation. As a matter of fact, it can be said that this situation creates critical advantages both economically and politically in the context of other states and especially countries close to China.
As a result, China is one of the world’s greatest powers and is leading an important international economic development through its global vision within the framework of the Belt and Road Initiative. For this reason, it can be argued that Beijing’s geoeconomic, geopolitical and geostrategic power will continue to increase and the Belt and Road Initiative will play a critical role in this.
[1] “Deng Xiaoping and the Transformation of China”, Foreign Affairs, https://www.foreignaffairs.com/reviews/capsule-review/2012-01-01/deng-xiaoping-and-transformation-china?gad=1&gclid=Cj0KCQjwk96lBhDHARIsAEKO4xYv4EJ0bcLRQQPMW4rdg6Y3e1Ig_2b11Bt–_htCqHUzqIoUQyXkUwaAhjLEALw_wcB, (Erişim Tarihi: 19.07.2023).
[2] “Finance: Bank Collapses Revive Uncomfortable Memories of 2008 Financial Crisis”, International Bank Association, https://www.ibanet.org/bank-collapse-memories-2008-financial-crisis, (Erişim Tarihi: 19.07.2023).
[3] “China Overtakes Japan as World’s Second-Biggest Economy”, BBC, https://www.bbc.com/news/business-12427321, (Erişim Tarihi: 19.07.2023).
[4] “Xi Jinping Arrives in Astana for State Visit to Kazakhstan”, FMPRC, https://www.fmprc.gov.cn/mfa_eng/topics_665678/3755_666062/2013zt/xjpfwzysiesgjtfhshzzfh_665686/201309/t20130911_707060.html, (Erişim Tarihi: 19.07.2023).
[5] “President Xi Jinping Delivers Important Speech and Proposes to Build a Silk Road Economic Belt with Central Asian Countries”, Consulate-General of the People’s Republic of China in Toronto, http://toronto.china-consulate.gov.cn/eng/zgxw/201309/t20130913_7095490.htm, (Erişim Tarihi: 19.07.2023).
[6] ““The Belt and Road Initiative and the New Model of Opening Up”, Ifeng, https://finance.ifeng. com/a/20140920/13130977_0.shtml, (Date of Accession: 24.02.2023).”
[7] Aynı yer.