Belt and Road Initiative: prerequisites for China’s modern foreign economic policy

Abstract

The article deals with internal and external factors, which have an impact on Chinas foreign economic policy at the period of the new normal, highlights new priorities and directions for the modern foreign economic policy in China. The article attempts to summarize all the economic, political, environmental, and social challenges that the Chinese leadership currently faces at the domestic, regional, and global levels. Special attention is paid to the One Belt, One Road Initiative, which reflects and summarizes new directions of Chinas foreign economic policy in the context of slowing down the national economy development, excessive production capacity, the growing disparity in the development of Western and Eastern regions of China, the escalation of economic confrontation with the United States and further deepening cooperation with countries in the Asian region.

Keywords

• one belt
• one road project
• belt and road initiative
• “new normal”
• china’s foreign economic policy
• innovation
• trade
• investment