Research On China’s Economic Cooperation With Countries Along The Belt And Road Initiative

In 2008,the subprime mortgage crisis erupted in the United States triggered a financial crisis,which led to the global economic crisis and presented an economy depression worldwide.Under this economic situation,all countries in the world are seeking ways to get rid of the economic crisis and achieve economic recovery.The United States adopted a trade protectionist policy,which has led to a global trend of trade protectionism and unilateralism,such as increased tariff barriers and non-tariff barriers,increased restrictions on investment and trade,etc.,which have led to a countercurrent in market internationalization and economic globalization.In this way,it only hinders the economic recovery and development of countries around the world.Under such circumstances,The Chinese government is well aware that many countries in the world are guided by their own economic interests to find their own economic recovery.The trade protectionism and unilateralism policies they adopt will only increase the obstacles for the world economy to get out of its predicament and fail to achieve national and world economic recovery and prosperity.On the basis of inheriting the wisdom and enlightenment of the Silk Road on Land & Sea,Chinese President Xi Jinping proposed an initiative to co-construct the Belt and Road which pointed out a new path and direction of the strategy for China with countries along the “Belt and Road”,even the entire world to get out of the predicament and move towards prosperity and development.That is what President Xi Jinping clearly pointed out: Solidarity and mutual trust,equality and mutual benefit,inclusiveness and mutual learning,win-win cooperation,sharing peace and common development for all countries.The “Silk Road” on land in ancient China began with the route formed by Zhang Qian’s emigration to the Western Regions.The “Silk Road” on the sea in ancient China was formed by the coastal ports that Zheng He fleet traveled to the Western Ocean seven times.The opening and formation of the ancient Chinese Silk Road reflected the spirit and wisdom of the Chinese people at that time in pursuit of national greatness and better life without fear of danger.The history of the ancient Silk Road is not only a history of merchandise trade,but also a history of economic cooperation and mutual exchange between China and countries along the line.It is also the embodiment and preliminary experience of China’s ambition to break through national and regional boundaries and actively participate in market internationalization and economic globalization,which has left China a valuable legacy of historical experience and rich spiritual wealth.Therefore,Chinese President Xi Jinping pointed out that since the formation of the Silk Road,“The over 2,000-year history of exchanges demonstrates that on the basis of solidarity,mutual trust,equality,inclusiveness,mutual learning and win-win cooperation,countries of different races,beliefs and cultural backgrounds are fully capable of sharing peace and development.This is the valuable inspiration we have drawn from the ancient Silk Road.”China’s economic cooperation with the countries along the “Belt and Road” is a way and means to jointly build the “Belt and Road” and realize the common prosperity and development of the countries along the route.It is also a key to jointly build the Belt and Road,and the concrete implementation of the initiative.There are concrete manifestations of a series of elements of the initiative in the economic cooperation between China and the countries along the route,such as the concept,principles,programmes,plans,designs and implementation steps of joint construction of “one belt and one road”.In fact,the complete system of the Belt and Road initiative provides a scientific theoretical basis,principles,implementation steps and practical guidance for economic cooperation.Therefore,the economic cooperation between China and the countries along the “Belt and Road” play an important role in the building process.After President Xi Jinping proposed the initiative,lots of countries responded positively.Many scholars at home and abroad also have begun serious studies on the Belt and Road initiative and economic cooperation led by it.These studies have played a role in promoting the economic cooperation.However,after comprehensive analysis of these literatures,it can be found that there are still some deficiencies in the existing research: first,the research is not comprehensive enough;second,the depth of the research is not enough;third,the balance of the research is not enough;fourth,the sustainability of the research is not enough.This thesis is based on the existing research,aiming at the shortcomings of previous studies,and strives for comprehensiveness,depth and innovation on the studies of the economic cooperation of building the “Belt and Road”.The basic contents of the thesis are as follows:1.Introduction.(1)The background,purpose and significance of the research,(2)summary and brief review of relevant research status at home and abroad,(3)research methods,research ideas and research contents,(4)the innovations and deficiencies.2.The basic theory of economic cooperation between China and the countries along the belt.(1)The basic concepts of the study of economic cooperation,(2)the theoretical basis of economic cooperation research(Marx and Engels’ international communication theory,world market theory,Xi Jinping’s theory of human destiny community,economic globalization theory and global governance theory),(3)the basic principles of economic cooperation(the Five Principles of Peaceful Coexistence,the Principle of Open Cooperation,the Principle of Harmony and Inclusiveness,Mutual Benefit,Market Operation,Free of Political Conditions,Voluntary Participation,Equal Status and Complementarity),(4)the economic cooperation methods(national economic cooperation methods,Enterprise economic cooperation methods,technical personnel and workers’ economic cooperation methods),(5)the contents of the economic cooperation(the cooperation of infrastructure construction,trade,investment,capacity,technology,energy resources development and utilization).3.Current situation,problems of economic cooperation and causes of the problems.(1)The current situation of economic cooperation(the status of infrastructure construction,economic and trade cooperation,energy resources cooperation and development),(2)the problems of the economic cooperation(including the misunderstanding of the cooperation motives and different understandings of the cooperation of a few countries along the “Belt and Road”,poor risk control in economic cooperation and lack of innovation in the form of economic cooperation),(3)the causes of the problems(such as insufficient communication,lack of enough awareness of diversification of national economic interests of other countries along the route,the insufficient exemplary role of the demonstration projects,the unsound risk control mechanism for economic cooperation,the lack of in-depth research on the forms of economic cooperation).4.The mechanism of economic cooperation.(1)Complementary mechanisms for economic cooperation(complementary mechanisms for infrastructure co-construction,economic and trade cooperation,capacity cooperation,cooperative development and utilization of energy resources),(2)docking mechanism for economic cooperation(the docking mechanism for the development of strategic cooperation,the “economic corridor”,and the sharing of economic and trade cooperation),(3)the communication mechanism of economic cooperation(the communication mechanism on national level,governments at all levels,non-governmental organizations and civil level),(4)the dynamic mechanism of economic cooperation(the dynamic mechanism of problem consultation,project co-construction and benefit sharing).5.The risks of economic cooperation.(1)Risk factors of economic cooperation(political risks,economic risks,cultural risks and social risks),(2)the economic transaction risks of economic cooperation project(including risks of project negotiation,contract and project implementation).6.Successful cases study.(1)Successful cases of infrastructure construction cooperation(such as Piraeus Port co-constructed by China Ocean Shipping Group and Greece,Sino-Thai Railway Construction),(2)Successful cases of production capacity cooperation(“Top Ten” investment and merger,construction of the Chimkent Refinery co-operated by China and Kazakhstan,and acquisition of the Serbian Medeevo Steel Plant by Hebei Iron and Steel Group of China),(3)Successful cases of energy resources development and utilization cooperation(a major project of China-Russia energy cooperation: Yamal LNG project,China and Kazakhstan energy development and utilization cooperation projects).7.China’s quantitative analysis of the investment benefits of countries along the“Belt and Road”.(1)Analysis of the theoretical mechanism of Chinese enterprises participating in the “Belt and Road Initiative” construction for other investment benefits,(2)construction of data sources and measurement models(data source and data processing,construction of empirical models and description of variables),(3)empirical analysis results(estimate the empirical analysis results of listed companies’ investment efficiency,use standard double-difference estimation results,robustness analysis),(4)conclusions,(5)enlightenment from research conclusions.8.Suggestions for promoting the economic cooperation with the “Belt and Road”countries.(1)Strengthen communication(including political communication,economic communication,cultural communication and social communication),(2)innovations of the economic cooperation(including the economic cooperation areas,the infrastructure co-construction,the economic and trade cooperation and the production capacity cooperation forms innovations),(3)improving the risk management mechanism of the economic cooperation(including the risk warning mechanism,the risk assessment mechanism and the risk management mechanism).9.Conclusions and research prospects.(1)The conclusions of the study: China’s economic cooperation with the countries along the “Belt and Road” has great significance and a solid theoretical foundation;the cooperation has achieved gratifying results and the achievements came from the cooperation mechanism;there are certain risks in the economic cooperation and countermeasures are necessary to promote economic cooperation.(2)Research prospects: China’s economic cooperation with countries along the “Belt and Road” is a far-reaching research topic.In the future,the study on this topic will continue to develop in depth.The author believes that in the future,this research will contribute more and more to the prosperity and development of the “Belt and Road” area along with the whole world,which will make this study a branch of learning.In the future,the researchers will continue to study the economic cooperation between China and the countries along the “Belt and Road”,strive to make up for the shortcomings of the current research,strive to integrate theory and practice,continue to explore the experience and information of vertical development,and expand the horizontal research,research China’s economic cooperation practices with more countries along the “Belt and Road”,and sum up the theory and practice of economic cooperation between China and the countries along the “Belt and Road” and provides more valuable reference for China’s economic cooperation practices along the “Belt and Road” countries.