mandag 21. mars 2022

What Will Russia’s Invasion of Ukraine Mean for China’s Belt and Road?

While primarily a geopolitical event, the Russian invasion of Ukraine will profoundly reconfigure global geoeconomics. “Geoeconomics” is defined here simply as the intersection of economy and geography. Examples include infrastructure-based connectivity initiatives such as China’s Belt and Road Initiative (BRI), the European Union’s Global Gateway, the U.S.-led Blue Dot Network (BDN), the G-7’s Build Back Better World (B3W), Japan’s Quality Infrastructure Investment (QII), Russia’s Eurasian Economic Union (EAEU), and the International North-South Transport Corridor (INSTC) driven by Russia, Iran, and India.

Centered around the geography of Afro-Eurasia, China’s BRI is currently the largest geoeconomic initiative, involving 140 countries. It will be profoundly reconfigured by this war. For China, the vast Russian landmass was the most reliable land-route to the rich EU market.