Chinese Investment in Serbia-joint Pledge for the Future of the New Silk Road

Dimitrijević, Duško and Janković, Nikola (2016) Chinese Investment in Serbia-joint Pledge for the Future of the New Silk Road. In: China-CEEC Cooperation and the Belt and Road Initiative. China Social Sciences Press, Beijing, pp. 64-88. ISBN 978-7-5161-9443-0

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Abstract

China’s tremendous economic development during the previous 35 years has made China an increasingly attractive economic partner in the first and second decade of the 21st century. During this period, idea of renewing the ancient”Silk Road“that was created during the Han Dynasty has received new attention and became a source of inspiration for the trade and investment ties between the China, Central and South Asia, Europe, the Middle East and Africa. In geopolitical sense, the new plan of the Silk Road which has been inspired by this ancient trade route consists of two political initiatives. First one is ”the New Silk Road Economic Belt” which indicates stronger economic relations with Central Asia with a special focus on trade and transport and the second one is the ”Maritime Silk Road” which is perceived to be an attempt to improve trade relations with South and Southeast Asia. The Belt and Road Initiatives are not without political and economic consequences. If they are conducted properly, they will result in better political understanding and common economic interests for all participating countries. However, both initiatives will have consequences on the US’ dominance in international relations. While there are opinions (based in the US, its Asian allies and parts of the EU) viewing the two initiatives in a negative sense and doubting the China’s motivation, some parts of EU (especially the countries of Central and Eastern Europe in the framework of political platform 16+1) and ASEAN have extended a warm welcome and have high expectations from them. A successful realization of these initiatives which is planed until 2025, should thus contribute to the reassuring of the concerned countries. To use China’s favorite foreign policy catchphrase, it’s a “win-win” situation – China can foster a softer image for itself even while boosting its regional influence.

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