China Social Science Review

No.4, 2022

 

New Developments in Economic Research on the Belt and Road Initiative

(Abstract)

 

Zhao Hongjun

 

Since the Belt and Road initiative was put forward, the relevant economic research has experienced explosive growth at home and abroad accompanied by increasingly rich content and flexible and diverse methods. After combing through its latest progress, we find that the initiative has accelerated the trade development of countries along the proposed routes through stronger cross-border infrastructure connectivity, but has pros and cons when it comes to FDI. The initiative will help narrow the gap in income distribution and reshape the global economic landscape. It is also noticeable that some potential economic and financial risks may be transferred. At present, economic research on the Belt and Road initiative has a clear interdisciplinary feature; it serves as a boon to the innovation of existing international economic theory and the construction of an independent knowledge system based on Chinese practice.