Assessment of the economic backgrounds of the OBOR

다국어 초록 (Multilingual Abstract)

Although there is a growing number of articles/papers on China’s ‘One Belt, One Road’ (OBOR), it is difficult to find comprehensive research concerning the economic background of China’s OBOR, though the initiative involves multi-dimensional considerations. Although China targets to become a soft power leader by reviving the spirit of the old Silk Road, the OBOR is a grand investment project, and whose rate of investment (ROI) is important for sustainability. Since new infrastructure in isolated regions is likely to use less frequently, anticipated profitability is low. In spite of this risk, China promotes the OBOR for its economic and political purposes. China will promote the OBOR in spite of the U.S. withdrawal from TPP membership, since boosting aggregate demand is of critical importance for the country. This paper analyze the economic background of the OBOR, which establishes China’s own model of regional integration, eases unemployment, and internationalizes its currency. Finally, this paper discusses diverse risks China may face in the process of implementing the OBOR.

목차 (Table of Contents)

• ABSTRACT
• 1. Introduction
• 2. Literature on the OBOR
• 3. Analysis of China’s OBOR Economics
• 4. Conclusion and policy implications
• References