Ankara Center for Crisis and Policy Studies (ANKASAM) presents an interview with Dr. Faruk BOSTANCI, General Manager of GABIM, to evaluate the role of the Belt and Road Initiative in the development of the Chinese economy.
1. How will the European Union’s (EU) tariffs on Chinese electric vehicles affect the functioning of China’s Belt and Road Initiative projects with Europe and can China substitute its supplies to Europe with other countries?
EU tariffs on electric vehicles imposed by the EU on China may affect the operation and procurement processes of China’s Belt and Road projects with Europe. These tariffs could make it more difficult for Chinese electric vehicle manufacturers to enter the European market and disrupt the balance of trade between Europe and China. However, whether these taxes cause China to substitute its projects with other countries depends on the nature of the projects and China’s strategic solutions.
2. What are the impacts of the Belt and Road Initiative on the economic competition between the US and China in a multipolar world order?
The Belt and Road Initiative is considered as a strategy that significantly affects the economic competition between the US and China. This initiative aims to strengthen the Chinese presence in the Asia-Pacific region and balance the US’s economic and military power. This Chinese strategy is seen as a reaction to the US’s economic growth and regional influence.
While intensifying the economic competition between the US and China, this situation also affects the economic policies and trade balances of regional countries. Competition increases especially in areas such as technology, transportation and energy. Meanwhile, this competition is also reflected in the global trade order and the balance of economic power.
3. How does the ongoing Russia-Ukraine war affect the Belt and Road Initiative’s trade relations with Europe, which needs raw materials?
The Russia-Ukraine War has a significant impact on Europe’s energy and raw material needs and trade relations. In particular, Russia’s role in energy trade has caused Europe to reorganize its energy sources. This has led Europe to seek alternative sources of raw materials to ensure its energy security. The Belt and Road Initiative plays an important role in this process. Europe aims to increase its energy security by investing in land lines and railways that transport energy and raw materials. These initiatives are steps in reducing Europe’s energy dependence and providing access to more secure sources of raw materials.
This situation has led Europe to change its strategies in energy and raw material trade and to establish new business partnerships. Especially the search for alternatives to energy resources such as natural gas and oil has initiated a significant transformation process in Europe’s energy sector.
4. Connecting its economic center from Central Asian countries to Europe through various transportation networks and infrastructure projects has enabled China to rise in the global arena. How has the economy of Central Asian countries benefited from these projects under the Belt and Road?
The Belt and Road Initiative has made significant contributions to the economic development of Central Asian countries. These projects have strengthened transportation networks by increasing infrastructure investments in the region and created new trade opportunities. Specifically, railway, highway and port projects have facilitated Central Asian countries’ trade with other regions and countries and have led to economic growth.
These projects have enabled Central Asian countries to transport their natural resources and products more quickly and cost-effectively. Moreover, the investments made as part of these projects have increased local job opportunities and labor force. In this way, Central Asian countries have become economically stronger and more independent.
