🌏 Just read Jacob Mardell's (The China Project) insightful report on the Belt and Road Initiative (BRI) titled "The Belt and Road at 10: Revisiting the last decade of China’s landmark foreign policy initiative." Its the first of four part series called, "Belt and Road Dispatch". Here are some key takeaways:
1️⃣ Complex Evolution: The BRI, launched in 2013, has evolved significantly, expanding from its original vision to a comprehensive global economic strategy.
2️⃣ Driving Force: SOEs: Chinese State-Owned Enterprises (SOEs) are a driving force behind the BRI. They pursue revenue, suggest projects, and secure financing, playing a pivotal role in its execution.
3️⃣ Engineering Expertise: Beyond finance, Chinese SOEs bring remarkable engineering capabilities to #BRI projects, even without direct Chinese funding.
4️⃣ Global Expansion: Chinese companies, particularly SOEs, have expanded globally through the BRI, contributing significantly to international contracting.
5️⃣ Developmental Philosophy: BRI aligns with the #chinese Communist Party's philosophy, viewing infrastructure as a catalyst for economic development and stability.
6️⃣ Market Entry: SOEs enter new markets at high levels, fostering diplomatic ties and business development, exemplified by projects like the Pupin Bridge in Serbia.
7️⃣ EU Challenges: #eu market entry faces regulatory hurdles and environmental requirements, posing challenges to Chinese companies.
8️⃣ Changing Financing Models: SOEs adapt by exploring alternative financing models, such as Build-Operate-Transfer (BOT), to share project risks.
9️⃣ Ongoing Evolution: The #BRI continues to evolve and remains a prominent part of China's global strategy, with SOEs playing a vital role.
Jacob Mardell's report sheds light on the evolving landscape of the BRI and its global impact. #BeltandRoad #China #GlobalEconomy #xijinping 🌐
Here is the link to report
Experienced Business and Entrepreneurial Expert
3wBorn in South Korea and raised in Utah (by adoption), makes me proud to hear news like this as a Korean-American. Great job GOEO and WTC Utah in partnering together and hosting South Korean officials for current and future trade growth opportunities here in Utah!