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New Books in Economics

Eyck Freymann, "One Belt One Road: Chinese Power Meets the World" (Harvard UP, 2020)

Aug 25, 2024
Eyck Freymann, a DPhil Candidate in China Studies at the University of Oxford, delves into China’s One Belt One Road initiative, the largest infrastructure program in history. He reveals the strategic and political significance behind OBOR, emphasizing that it transcends mere infrastructure, aiming to enhance China’s global influence. Freymann debunks myths regarding debt traps and highlights the complexities of local perceptions in participating countries. Ultimately, he argues that OBOR reflects Xi Jinping’s desire to restore China's status on the world stage.
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Podcast summary created with Snipd AI

Quick takeaways

  • The One Belt One Road initiative is driven by Xi Jinping's ambition to revitalize China's historical imperial presence through global trade infrastructure.
  • Contrary to prevalent myths, recipient countries do not uniformly view OBOR as a debt trap, highlighting the complexities of local political dynamics.

Deep dives

Origins of the One Belt, One Road Initiative

The One Belt, One Road initiative (OBOR) originated from Xi Jinping's vision to restore China's former imperial glory, linking it to historical periods of power during the Han, Tang, and Ming dynasties. This initiative aims to revitalize trade routes and construct infrastructure in participating countries, positioning China as a crucial global player. The initiative is not merely an infrastructure project; it is framed as an imperial rejuvenation strategy where China's economic and political influence expands through cooperative agreements with other nations. By offering loans and financing, China connects its state-owned enterprises to foreign markets while promoting a narrative of mutual growth and shared prosperity.

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