The Political Economics of the New Silk Road

What is it about?

This paper examines the Silk Road Economic Belt initiative in light of Chinese-EU relations. It reviews the initiation of the Silk Road Project and focuses on its political economics analysis through investigating the potential routes the Belt can take, the EU-Chinese trade and investment standings as well as the global political context that the increased cooperation and connection is likely to influence.

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Why is it important?

The paper uses the Modern Silk Road concept as an example of China’s foreign policy in wake of globalization and the emergence of a new multipolar world order. To set the stage we will begin with a political-economic approach of the New Silk Road. Highlighting the possibilities of Chinese high-culture, which accommodate global governance, we state that the Modern Silk Road project is one of its materialised forms. The concept of the New Silk Road (together with the Eurasian Union) denying the previous era of corruption and personality cult shows a milestone in the development of China, proving that it is already a globally responsible power.