Chinese Economic Pragmatism: The Belt and Road Initiative

Abstract

In recent years, China superseded Japan as the world’s second-largest economy and Germany as the world’s biggest exporter of merchandise. As its economic expansion is continuing, China makes efforts to identify and exploit new sources of growth and development. In this respect, China has launched and promoted its Belt and Road Initiative since 2013. The goals of the paper are to briefly describe the Belt and Road Initiative and to illustrate the Chinese economic pragmatism in this case. The authors achieved the objectives of the paper by using a quantitative method. The information was gathered through a comprehensive literature review from various sources of secondary data. The paper demonstrates the Chinese economic pragmatism in launching, developing and supporting the Belt and Road Initiative.

Keywords

• Belt and Road Initiative
• China
• Silk Road
• economic corridor
• economic pragmatism