This assessment will cover the following questions:
- Discuss how you would answer the dissertation's research question. Also, address some of the gaps identified in the literature in your review.
- Discuss Why this research question is essential in the real world.
- Provide the literature review in a well-organised manner and critically identify gaps in the literature.
1.1 Overview of The Topic
China belt and road initiative is the development strategy which is implemented by the china authority. This initiative is taken with the aim of building higher connection and cooperation between six main corridors which encompass of china, magnolia and Russia. The belt road in China is being promoted by one of the lading group of the nation which is national development and reform Commission. For implementing this initiative various policies and statement were taken so that the goal of belt road initiative can be implemented effectively (Gong, 2019). The main reason for this development is to make an effective trade and investment link between the neighbour country of China. In this the national development commission focuses on building land and marine network so that they can easily connect with Asia and Europe. This initiative is also supported in large number by the people of the china as they can see increase in global GDP in the country (Blanchard, 2019). The main purpose to adopt this strategy is to fulfil the gap between the infrastructure if Asia. This gap is being identified during the expansion of china’s Han dynasty. Another main motive behind this is to improve the physical infrastructure along with the land corridor that will equate old silk road with new silk road. So in the current investigation, researcher will be focusing on identifying the ways through which Belt road initiative can be done implemented effectively and engage can be made between the people with south and southeast Asia (Lam, 2020).
1.2 Research Rational
The primary rational behind carrying out the current investigation is to gain detailed understanding on the topic belt road initiative. The current research will help in understanding the development strategy taken by China in order to build high connectivity across six main corridors. With the assistance of the current investigation investigator will effectively identify the ways and approaches used by the China’s development authority for Belt road initiative. The belt road initiative is taken by the china government in order to engage people of the country with the trade opportunity available in south and southeast Asia (Afzaal, 2022). Another big rational for executing the current investigation is to identify the major challenges which were faced by the China when implementing the strategy of Belt road initiative. In recent time it is very important for the nation to build effective transportation facility because it increase the trade and investment between different nations. It helps in increasing the economy of the nation in greater way (Yuen, 2019).
Apart from this one of the major rational for executing the investigation is to attain dual perspective in sound manner. Theses dual objective are personal and professional perspective of the researcher. In respect to the professional subjective, the present investigation will help the researcher to acquire detailed knowledge on the topic so that current investigation can be done effectively (Cui and Song, 2019). As well as the existing investigation also helps in developing various research skill such as communication skill, data gathering skill, problem solving skill and many more. These skills will be used by the investigator in their future investigation so that investigation can be done in more appropriate manner. Onn the other hand, with respect to the professional perspective the current research aids in identifying the ways used by the legal authority to build effective trade and investment between the countries. These ways and approaches will further have used by researcher when they will be a part of any Belt road initiative of the country. Therefore, the present investigation is quite vital to acquire detailed knowledge on the topic as well as in attaining dual objective in sound manner (Kazmi, 2021).
1.3 Research Aim and Objective
A) Research Aim
To identify the ways used in the Belt Road Initiative (BRI) by the People's Republic of China to enlarge their trade and investments in South Asia and Southeast Asia.
B) Research Objectives
- To develop basic understanding regarding Belt Road Initiative (BRI) by the People's Republic of China
- To determine the effective ways used by Belt Road Initiative (BRI) for engaging people of China for developing trade opportunities in South Asia and Southeast Asia
- To examine the challenges faced by China prior Belt Road Initiative in terms of trade and investments
1.4 Research Question
- What is the basic understanding regarding Belt Road Initiative (BRI) by the People's Republic of China?
- What is the effective ways used by Belt Road Initiative (BRI) for engaging people of China for developing trade opportunities in South Asia and Southeast Asia?
- What are the challenges faced by China prior Belt Road Initiative in terms of trade and investments?
1.5 Significance of The Study
The main significance for the current research is to determine the need of Belt road initiative for China. The current research is being conducted to know the necessity of the belt initiative for china in order to enhance their trade and investment between south and southeast Asia. The topic is chosen for carrying out the current investigation in order to know the importance of development strategy taken by the china government for their nation. This research project helps in improving the knowledge of the investigator towards the impact of belt road initiative in increasing the trade transaction of the country (Yu, 2019). Apart from this the existing research is also helpful for various stakeholders that would be researchers, scholars, nation and general public. For the scholar the present investigation is quite significant as it will help them to acquire detailed knowledge on the concept of belt road initiative. This research will provide them the understanding on trade and investment and why it is necessary for the country to have effective trade and investment. In context of the researcher the present investigation is important as they can use this investigation as their foundation so that they can carry out their future investigation in more appropriate way (Hoh, 2019). This research also helps them to know about the phenomenon and data collection method which they can use to gather and analyse information for the study. In respect, to the general public the present investigation helps them to know the reason why the initiative is being taken by the nation. As well as it also aid them the opportunity which are available for them to make trade with other nation. In last for the country this investigation assists them to know the impact of this trade and investment initiative on the economy of the nation. Thus, the current investigation is quite significant and useful topic in the areas of economy (Rimmer, 2018).
1.6 Structure of The Report
In this dissertation, investigator of the study covers five different chapter in order to complete the whole dissertation in effective and systematic manner. The chapters which will be covered in the above research are as:
1) Introduction:in each and every investigation the first chapter which is conducted by investigator is the introduction chapter. This is one of the most crucial chapter in the research as it the whole investigation depends upon the introduction part. In this section various vital components of the dissertation will be included such as research aim and objective, research question, rational of the study, significance of the study, overview of the topic etc (Bloomberg and Volpe, 2018).
2) Literature Review:The second chapter in the dissertation is literature review part which discussed about the past published information on the chosen topic. This is the chapter which contain the secondary data of the selected topic. The second hand information is acquired so that knowledge about the topic can be gained. There are various sources through which past information gathered by third party can be obtained such as books, online site, government site, magazine and many more (Biggam, 2018).
3) Research Methodology:Third chapter in the project is methodology section which talks about the ways and method through which data for the study can be gathered and analysed. This is one of the vital section in the investigation because this section chooses the right method and technique for extracting and measuring information. In this section various components are included such as research philosophy, approach, strategy, choice time horizon and sampling method. this section also helps in identifying the data collection source for the investigation (Holley and Harris, 2019).
4) Data Analysis and Finding:next chapter in the dissertation will be data analysis and finding chapter. In this chapter researcher choose the technique through which raw data can be inspected in right ways so that useful information can be gained. It is very important to analysis the data because it helps in finding the quality outcome for the study. In this section the result which is obtained by measuring the information is then presented in different format depends upon the type of information (Joyner, Rouse and Glatthorn, 2018).
5) Conclusion and Recommendation:Last chapter in the dissertation is conclusion and recommendation chapter. Conclusion is that section which contain the short summary of the overall investigation. It is that part which provide the important information of the investigation. Conclusion holds the summarised and quantity result of the investigation. On the other side, recommendation is the past which provide some suggestion to the organisation or the sector in order to overcome from the issue or problem faced by the industry (Williams, 2018).
2.1 The Basic Understanding Regarding Belt Road Initiative (BRI) by The People's Republic of China
According to the point of view of Chinyong Liow, Liu, and Xue (2021) Belt Road Initiative is referring to the plan to develop the trade routes which are helps to connecting the China with the world. BRI is a long-term policy and investment which helps to provides many opportunities to China to use their considerable economy projects around the world. It is an strategy which is initiatives by the people's Republic of China. It can be defined as some priorities such as policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and connecting people. It is also called as new silk Roads. It is the one of the most ambitious and important infrastructure projects. It is the strategy to cover global infrastructure projects which is adopted by the government of China. It is associated with the very large program of investment which is develop the railways, roads, ports and airports, it is also developing the telecommunication and power plants network by connecting with each other. It is the project that can increase the foreign investments, reduce poverty, expand trade.
There are some objectives of BRI which is focus on the building and realizing five connections between the BRI corridors which includes enhancing policy coordination, reinforce trade and investment cooperation, improve the infrastructure connectivity, moving forward to financial integration and supporting people (Abban, and Hongxing, 2021). It is the strategy which is used by People's republic of China that helps to connect the Asia with Europe and Africa via maritime and land networks, that is improving the regional integration, stimulating economic growth and increasing the trade. It is the long- term plan which is aiming to the development of infrastructure projects. There are some more BRI benefits which includes it is helps to reconfigure relationship, shifting the power, reroute the economic activity within the states. China's Belt and Road Initiative aims to improve the connection and relation between China with the more than 80 countries via regional corporations and infrastructure investments. The purpose of BRI to economic development and connectivity of inter-regional. It is helps to maintain the world economy. It is expanding the trade, increasing the foreign investment by reducing the trade costs. It is the foreign policy and economic strategy of the Republic peoples of China. New infrastructure can be help to fill the gap of infrastructure and policy gaps which can be costly in order to rising the public debt. It is representing the risks to the large and big infrastructure projects. The risks can be exacerbated by the limited sources such as debt sustainability, environmental risk, government risks, social risk and many more.
In the opinion to JianBRIg (2020) the Belt Road initiatives is defined as the initiative plan which is undertaken by the people’s republic of China. It is helps to connect the routes by developing the China with the nation. BRI is known as the long-term policy and investment that provides the opportunities for the China to uses the economy projects all overall the world. BRI is the strategy that is initiatives by the people’s republic of China. It is defined as some major priorities such as infrastructure connectivity, policy coordination, financial integration, unimpeded trade and connecting the people each other. BRI is also known as the new silk road. It is the important ambitious and infrastructure projects. It is the term that cover the overall global infrastructure projects which is adopted by the China’s government (Plotka, 2020). BRI is associated with very large program of investment that helps to develop the sources such as railways, airports, roads and ports. It is developing the power plant networks and telecommunication by connecting with each other. It is the strategy which helps to increase the reduce poverty, foreign investments. It is the strategy that is provide policies in a well manner in order to implement the BRI in an effective and efficient manner. The benefit of BRI allows to expanding the trade, increasing foreign investment through reducing the trade cost. New infrastructure helping to fill the infrastructure and policy gap but it can be costly in relation to public gap. BRI represent the risks with the large and big infrastructure project. The risk can be recognised by some limited sources including environmental risk, debt sustainability, social risk, government risk and so on. The BRI objectives focus on the projects and realizing some connection between corridors BRI including reinforce trade and investment, policy coordination infrastructure connectivity, financial integration and supporting people. It is aiming the development of the infrastructure projects.
According to the point of view of Pechlaner and et.al., (2020) China's Belt and Road Initiative (BRI) is referred to the strategy that is initiated by the people of China's Republic. The aim of BRI is to connect the Asia with Africa and Europe via land and networks for improving the regional integration, stimulating economic growth and increasing the trade. It is defined as the strategy which efforts to develop the independent marker for China, expanded, political power, and grow China 's economic and creating the right conditions and solution for the China's that they can build the high technology economy. It is also known as the strengthen of China's connectivity with the world. BRI is the combination of the new and old projects, covers the geographical scope and including the efforts of soft infrastructure, cultural ties and hard infrastructure. In other words, China's Belt and Road Initiative (BRI) is defined as the new silk road which is the one of the most compulsive infrastructure that aims to connect the Asia to Europe by expanding China's economic and political influence. It is also known as the development strategy which is aiming to build the co-operation and connectivity across the six main corridors of economy. It is associated with the large infrastructure programs of investment for developing the roads, railways, airports, ports as well as power plants and telecommunications networks (Van Noort and Colley 2021).
It is increase the umbrella mechanisms for the trade of China's bilateral with BRI partners. BRI is important for the China because it is provide an opportunity to use the financially considerable economic by infrastructure projects around the world. It can help the transports by expanding trade, increasing the foreign investment and reducing the poverty by lowering trade costs. It is a large project planning that aiming to improve the regional co-operation by building the better connectivity among the countries. The main purpose of BRI is to promote the economic development and inter-regional connectivity which is help in better connection and power with other countries. It is helps to establishment of long-term partnership. It is improving the convenience of cooperation. It is increasing the quality of investment and financial system. It is provide to China is strongest and strengthen in the connectivity with world which is the biggest advantage for the China's development (Battamo, and et.al., 2021). BRI provides many advantages such as it is reduce the travel times for economics along with the transport by reducing the trade cost by up to 12 percent. It is also increasing the trade by between 2.8 and 9.7 for the economy and by 1.7 and 6.2 percent for the world.
2.2 The Effective Ways Used by Belt Road Initiative (BRI) For Engaging People of China For Developing Trade Opportunities in South Asia and Southeast Asia
As per the point of view of Djajadikerta and et.al (2022) there are many effective ways that is used by China’s belt road initiative. It is developing the strategy to for the better relation and connections between six major corridors such as China, Mangolia and Russia. It is the best supporting group which is lead to aim promote the work and services. It is represented by the reform commission and national development. it is measured as the China’s main infrastructure initiative which helps to develop the policies and statements. White belt road also has some geopolitical views and goals which are related to the neighbours that are economically close to China. Belt road initiative is the strategy that is initiated by the China’s republic peoples to connects the Asia and Europe via networks of land and maritime in order to improve the trade simulation and regional integration economic growth. it is considered as the policy that is introduce by the people’s republic of China. Belt road initiatives (BRI) is the strategy which aim to develop the country and increasing the communication between the countries. Belt road initiative is using the integration of countries to develop and engaging the people of China that helps them to develop the trade opportunities within South Asia and Southeast Asia (Chan, 2021). The strategies of belt road initiatives help to develop the overall China by encouraging the people which helps in developing the trade opportunities. They used the strategy to introduce the new infrastructure within the country to fulfilled the gaps of debt sustainability, government risk, social risk and many more. There are some numerous investors of BRI which is connected with the China and its applications.
The risks can be exacerbated by the. As the Belt And Road transport have the power to enhance the level of trade and foreign investment. It is one of the essential global infrastructure project which is connected to other regions. That is why china is looking forward to build route with the help of BRI initiative (Mao and et.al., 2019). It is one of the best plan to highlight and enhance the level of trade and investment while connecting with various continents that is Asia, Africa, and Europe along the ancient trade routes. In addition to this, it has various projects such as Super grid, Ice silk Road, Sea based Maritime and many others. China has spent trillions of money for the purpose of construction of better infrastructures. In that process, China has signed a cooperation agreement with various countries (Wang and et.al., 2022). China belt and road initiative is one of the development strategy which is implemented by the China authority. It can be said that this initiative was taken in order to make and build higher level of connection and cooperation between different main corridors. Such as china, magnolia and Russia and the belt road in China is being promoted by one of the lading group of the nation which is national development and reform Commission. In order to implement this initiative, there are various policies and statement were taken so that the goal of belt road initiative can be implemented impressively (Bandiera and Tsiropoulos, 2020). The main reason for this development is to make an effective trade and investment link between the neighbour country of China. In this the national development commission targets on building land and marine network so that they can easily connect with various region such as Asia and Europe. This initiative is also supported in large number by the people of the china as they can see increase in global GDP in the country (Mitchell, 2021).
According to the view of Vinod (2020) the effective ways which is used by the China’s Belt Road initiatives is to developing the strategy for developing the trade opportunities within the South Asia and Southeast Asia. They are developing the strategy for build the better connection between six major corridors including Mangolia, China and Russia. It is also known as the best supportive group that is leading to promote the work and services of projects. It is representing by the national development and reform commission. It is measuring by the China’s main infrastructure initiatives that is developing the statements and policies. There is white Belt Road also some have geopolitical views and goals that is determining the neighbours which are related to the economically closing to China (Sigdel, 2020). They are using the strategy to initiatives with China’s republic people to connecting the bond between the Asia and Europe through networks of maritime and land in relation to improving the trade of simulation and integration regional for the economic growth. China’s republic people initiate with the policies by consider the Belt Road initiatives. Belt Road Initiatives is aiming to develop the trade opportunities within the South Asia and Southeast Asia by engaging the people’s republic of China. They provided new infrastructure projects within the country to develop the gaps such as debt sustainability, social risk, government risk and many more. They used to communicate with the people of China that helps to build the strong relation and developing the infrastructure within the country. They provide many policies to connect the China with the world.
As per the point of view of Ranjha, (2022) there are some effective and efficient ways that has been used by the Belt Road Initiative (BRI) for engaging people of China for developing trade opportunities in South Asia and Southeast Asia. The ways help them to increase the investment and trade in the BRI. It is helping in very board scope encompassing strategic, cultural and economic connectivity. The ways also help the BRI in security for energy, food and resources by taking the leadership between regional with one of the most important neighbours. The effective ways that has been used by BRI also help in better connectivity, openness, innovations, development, energy and food security, development of balanced regional and many more. It is helps to improve the efficiency and effectiveness in countries that is the benefit for the countries. the effective ways that has been used by Belt Road Initiative (BRI) such as they are increasing the trade and investment in the BRI that is help to improve the bilateral and multilateral co-operation mechanisms (Antonopoulos, García, and Cottle, 2021).
It is focusing on the policy communication, trade facilitation, infrastructure connectivity and many more. They are provide free trade zones along with Silk Road which is efforts to implement the strategy of free trade area speedily. It is also helps to engage the negotiations with countries and regions by providing the routes of BRI by building the free trade areas. They are enhancing the financial co-operation in the region to fund infrastructure which is help to promote the development of Asian infrastructure investment banks and new development banks. They are gaining the access to natural resources which is help to give strengthen to the international co-operation on the basis of energy and resources and production chains. They are providing strengthen to transport services that infrastructure in the BRI corridors that is helps in advance development of multi-model transportation which integrates such as railways, express ways, water ways, and airways etc. it is building the international logistics strengthen and thoroughfares that developing the infrastructure along with the major routes and ports of entry. They used to exchange the cultural in the region that is helps to conduct the extensive international co-operation in the function of areas of eduction such as technology, science, sports and tourism.
They used to combines the routes that is helps to improve the trade and increasing it for the future growth. The BRI Projects improving the other areas as well such as tariff reductions, border efficiency, deeper trade agreements, better market access and many more that trade can increase even further. These all effective ways has been used by Belt Road Initiative (BRI) for engaging people of China for developing trade opportunities in South Asia and Southeast Asia which is help them in development. China initiative also promotes the international co-operation by Belt and Road initiative which is help in engaging the people of China. They are formed to provide the support of multiple framework of financing mechanisms for the BRI that is help in more development in Silk Rod. They are also focus on the small-scale projects that is help to response the local communities immediate needs and wants. They are also making the strong relation with the peoples that is helps to make the connection between countries and people more strong and effective (Bai, Chen, and Long, 2021). This strategy also helps in improvement of BRI and the development of trade opportunities within the South Asia. BRI is also known as the long term investment and policy programs that is used to aim the development of infrastructure projects which can be possible by making the strong bond with countries and peoples. It is also helps to improve the economic growth and policy of infrastructure projects.
2.3 The Challenges Faced by China Prior Belt Road Initiative in Terms of Trade and Investments
In the opinion to Chao (2021) there are many challenges faced by the China prior Belt Road initiative in order to trade and investment. They faced that labour violations, environmental hazards, corruptions scandals which is along with the public protests. They faced that the first Vietnam’s elevated railway line Hanoi suffered from the delays from the many years. The budget of Railway line is to around 60% above comparing to original cost. They faced challenges in order to term of investment trade. They facing issue in policymakers which is the host of countries that are highly concern to the belt road project for overpricing and corruption it is the major challenges that is faced by the belt road initiatives. There are some major challenges of sentiment of public which is makes difficulty to the making close relation to the China. They are facing the issues in delays in the projects which is the necessary part of debt-trap strategy of Beijing. It is the one of the most seeks country which are having fund projects that are on risk, countries instead of the other creditors. It is creating difficulty in relation to positioning the repayment line via collateralisation.
They are facing the challenge in the term of trade and investment by using the effective policies and strategies. China’s is dealing with the challenges of Belt Road initiative to completing the overall projects. The challenges faced by the China in their operation function because it is having issue in the operational financial mechanism (Zhao, 2020). There are many stakeholders of BRI which are facing issue in understanding the overall projects. China is busy in the implementation of BRI stakeholder in engaging with the government. There is one more challenge for the Belt Road initiatives where they faced that it is not easy to do the proper analysis of trade and investments for stakeholders. There are some countries who are positive about the Belt Road initiatives but some are not positive about the Belt Road initiatives. They are facing implementing the effective communication within the countries.
According to the point of view of Jin, Shen, and Jiang (2021) there are some challenges that is faced by the China prior Belt Road initiatives in relation to improving the trade and investment opportunities within the countries. They face the environmental hazards, labour violations, corruptions scandals that is along with the public protest. They are facing that first railway line of Vietnam’s elevated Hanoi is suffering from the delay for the many years. The overall budget of railway lines is around 60% increasing comparing to the original cost. They faced challenge in implementing the BRI in China in order to invest the trade and opportunities (Rubio, and Maya, 2020). They are facing issue in policymakers that is hosting the countries at the highly concern of the Belt Road initiatives project. There are some more major challenges which is by the people’s republic of China, where they are not communicate with other countries which makes barriers for the BRI. They are facing issue in maintaining the projects on time because all the projects are taking too much time in implementing the trade and opportunities. These all challenges make many difficulties for the China and its people which is reducing the operation function and overall performance of the BRI. They are facing the issue to analysis the project in proper manner because it is difficult for the BRI to implement the effectiveness in the projects. They are facing the issues in trade and investment opportunities from the other countries because China’s bond with each countries is not strong. These all challenges is the disadvantages for the BRI which is reducing its infrastructure and projects.
According to the point of view of Yang and Van Gorp (2021) there are some challenges which has been faced by the China prior Belt Road Initiative in terms of trade and investments where they faced that there are many labour violations which is creating the many beneficial issues. They are facing the major challenges in environmental hazards that is creating many environmental issues in BRI infrastructure projects programs. They faced that there are some corruption scandals that is along with the protest of public. They faced that the first elevated railway line of Vietnam's was delay from the many years where the Hanoi was suffered during this challenge. They faced that railway line budget is 60 percent high by comparing it with the original cost (Yang, and et.al., 2020). They facing major challenges in investment of trade and opportunities which creates many disadvantage to trade. They are facing issues in making the policy for countries that is highly concern with the Belt Road projects of infrastructure development. They are facing issue in time management because there are many delays in projects which is overpricing the delays on the project complement. They faced that there are some more sentiment challenges for public of China which is making the many difficulty to building the close relation with China and many more.
These all challenges has been faced by China prior Belt Road Initiative in terms of trade and investments. These challenges affects the overall process of trade and investment of BRI which is creates many disadvantages such as low projects initiative high cost, high investment, high transportation and many more. There are some more challenges such as BRI faced that there are some countries that having the positive initiative for the Belt Road Initiative but there are some courtiers who are not positive about the Belt Road Initiative. It is not easy to communicate with people of China about Belt Road Initiative because it is affecting the cost and performance of the China's people. They faced that there is an issue in trade and investment with other countries because the weak connection and connectivity with the other countries (Liang, 2020). they faced that there is some major challenges in people's republic of China because they are not able to communicate with the other countries properly which is making the disadvantages or barriers for the Belt Road Initiative. The aim of BRI is to connect the routes with other routes between contrives but they faced the challenges of high cost of the materials which is increasing the issue for the trade and investment as well. These all challenges has been faced by the BRI in order to trade and investment opportunities which creates many issues and disadvantages of the projects and programs of developing infrastructure within China.
Also, another risk is related to the size of infrastructure projects which can be a issue in relation to its transparency and level of openness. It tends to bring weak fundamentals in the governance of the countries. There are various risks which are related for instance environmental risk, governance risks, debt sustainability and many others. As in the year of 2013, China has launched its BRI that is Belt and road Initiative which took major efforts with the aim of enhancing the overall economic and international trade development. It is known to provide free trade regimes and also a world based economy in relation to regional cooperation. Likewise, they face hazards related to environmental, labour violations, corruptions scandals that is along with the public protest. They are facing that first railway line of Vietnam’s elevated Hanoi is suffering from the delay for the many years. The overall concept of BRI comprises of making a transport route between China and other countries with the aim of making trade more profitable. In the history, BRI has one of the main geoeconomics vision which is expanded to various countries. Likewise, there are various issues which are faced as the challenge in relation to trade and investment by making use of effectual policies and strategies.
That is why China has to deal with the various challenges of Belt Road initiative in order to complete the overall projects. Furthermore, the challenges are to be faced by the China in the way it operates its function because it is also having issue in context to operational financial mechanism. It can also be said that there are many stakeholders of BRI which are facing some issues in understanding the overall projects. As the China is busy in the implementation of BRI stakeholder in order to elevate the level of engagement with the government. Additionally, there is one more challenge for the Belt Road initiatives where they are not able to analyse the level of trade and investments for stakeholders. As there are some countries which have the positive response about the Belt Road initiatives but some are not sure about the Belt Road initiatives. They are facing implementing the effective communication within the countries. The BRI plan is also the best foreign policy effort and a project in which China has spent some of its significant resources. Such resources will help in organizing BRI events, also in promoting the BRI stories so that China will grow more in coming future.
Research Methodology can be defined as the way that explaining that how a researcher is carry out their research. It is the collection of methods and techniques that is used to make the research effective and efficient. Research methodology is the term that helps to improve the overall research process and make it easy. It can be a difficult process to choosing the right research methodology for the specific investigations (Matović, and Ovesni,2021). It is the term that describe the research methods, designs, approaches that helps to provide detail information about the research. In other words, research methodology is a way that defines that how a researcher can design a study systematically to ensuring the reliable and valid research to address the research aims and objectives. It is a justification of the designs, choices by showing the selecting and chosen method and techniques that is best for the specific topic of the research. A good research methodology helps to provide the findings by choosing the right methods and techniques for the research (Dennis, and et.al., 2021). Research methodology mainly divided into two parts such as quantitative and qualitative, primary and secondary. Therefore, the specific research will be selected the relatable method for the further investigation. The types of research methodology defined that the data collection will be taken in which method and why. It is the systematic process that broadly defined the gathering and collecting the data and information and helps to gain the knowledge about the study of the research.
3.1 Research Philosophy:
It is referring to the first stage of research methodology which is describing the analysing, gathering and collecting the data of research in appropriate manner. It is deals with the nature, sources and development of knowledge. In other words, research philosophy is the term that defines the ways that which data should be collected, used and analysed for the investigation. Research philosophy is playing an important role in research methodology. It is divided into two parts such as positivism and interpretivism. In the following research, researcher has been taken the Interpretivism philosophy (Ghosh, and Guchhait, 2020). As interpretivism is basically based on the understanding the human nature. It is helps to interprets the social roles of individuals. In the interpretivism qualitative approach is applied for the individuals’ interactions in terms to collaboratively that makes the research more reliable. It is basically popular for the secondary data research because the current investigation is all about on the secondary research that is the reason researcher has been select the interpretivism comparison to positivism because positivism philosophy is based on the quantitative methods (Li, and et.al., 2020). Interpretivism research philosophy is helps to integrates the human interest into a study of research.
3.2 Research Approach:
It is the concept of steps of board assumptions of plan and procedure to the detailed methods of data collection. Research approach is selected by the researcher because it is helps to collect, analysis, and interpret the data information of the study of the research (Belov, and Novikov, 2020). It is basically based on the nature of the research questions. It is also known as the planning and procedure that helps to consists the steps of boards of assumptions to made up the detailed data collection, interpretation and analysis. There are mainly two types of research approach such as inductive and deductive. For the current investigation, researchers have been selected the inductive approach. As it is helps to collect the relevant data of the particular topic of interest. In other words, inductive approach is the process of systematic procedure that helps to analyse the qualitative data with the helps of specific evaluation objectives (Juškevičienė, Dagienė, and Dolgopolovas, 2021). In the following investigation inductive approach helps to measure the concepts qualitatively data with the help of secondary research. It is an approach which is the method of conclusion that is generalize with the specific topic of the research study. It is helps to allow the researchers in flexibility, support of new theory and attends closely to context. It is involves the search pattern for the research which is collect from the observation and the development of explanations.
3.3 Research Strategy:
It is referring to the process of step-by-step action of plan that helps to give the direction to the researcher. It is also known as the systematic process that defines that how the research is conducted for solving the inquiry problem (Binnie, and et.al., 2021). It is helps to introduce the principal of the study for the research topic, focus, areas, designs and methods. Research strategy has to select for the research questions, research objectives, amount of the time available, resources at researcher’s disposal, philosophical underpinnings of the researcher. It can be divided into many parts such as case study, survey, observation, systematic literature review, interview, questionnaire and many more others (Kumar, Kumar, and Agrawal, 2020). For the current investigation, researcher has been selected the systematic literature review strategy. As it is the process of provide the overview of the literature systematically. It is helps to evaluate the current practices, development and updating the guidelines for practices which is helps in gathering the reliable data for the research (Schwartz, and et.al., 2020). In the current investigation researcher selected the systematic literature review strategy because it is allows the researchers to view the lay of the land of the specific topic of the current research. In other words, systematic literature review is refers to the identification, evaluation and synthesizes of the research that helps to create the summary of the following study if the research.
3.4 Research Choice:
It is referring to types of research methodology that is helps to determine the success and quality of the study of the research. The right research choice helps to identifying the information of the research that is required for completing the current research study (Hew, and et.al., 2021). There are two types of research choice such as quantitative and qualitative. For the present research, qualitative method has been taken by the researchers. As qualitative research helps to collect and analysis the non-numerical data. It is helps to gather the in-depth insights and generate new ideas for the research. It is also defined as the market research method that helps to focus on the obtaining data through conversational communication and open-ended. For the current research, qualitative method has been taken because it is help the researcher to obtained the data from first-hand observation, focus groups, interviews (Messineo, and et.al., 2021). it is also helps to understand the people beliefs, attitudes, experience, behaviour etc.
3.5 Data Collection:
It is refers to the systematic process that helps to gather observation or measurements. Data collection is helps to collect the hand knowledge for the problem of research (Ziai, Bendix, and Müller, 2020). It is define as the various term that has been collecting the information in number and text forms. The overall data collection process can be done after the complementation of the observation or experiments. The term data collection help the researcher to gather the data information from the sources which helps to solve the problem of research easily and in a proper manner. It can be divided into two parts such as primary and secondary. In the following research, secondary data collection has been selected by the researcher. As secondary method is using the existing data (Chelladurai, and et.al., 2021). For the current research, secondary data help the research to collect the data from another research that have been collected from the primary sources.
3.6 Research Instrument:
It is define as the strategic tool that helps to measure, collect and analysis the data which is related to the research topic (Martinez-Gutierrez, 2020). research instruments is basically based on the research choice such as quantitative, qualitative and mixed-method. It is known as the measurement of data that is used by the researcher for the collect and analysis the data for the particular research. A good instrument helps to provide the high quality data for the research. It can be divided into many categories such as interviews, tests, survey, questionnaire and observation. For the current research, observation research instruments has been taken by the researchers. Observation is the method that is basically used in behavioural science. It is known as the scientific tool and the data collection method which is for the research. In the current research, observation method has been taken by the researcher because it is a systematically planned and recorded process that is helps to control and check the reliability and validity of the study of research (Yazdi, and et.al., 2020). observation is one of the most important tool for the research because it is helps in understand and interpreted the data information of the research. It is help the researcher to collect the depth information about the current research of the topic. It is also helps to provide the data collection method in validity and reliability of the study.
3.7 Research Ethics:
It is define as the collection of the application of principles that helps the researcher to design and implementation of the specific research (Travis, 2020). it can be defined as the set of guidelines that is helps to guide the way of the research that how it will be conducted and disseminated. Research ethics is the term that is used by the researcher for conduct the research without hurting anyone emotions and feelings or thoughts. It is refers to the important term of the research methodology because it is necessary to investigate the overall research process in ethical and proper way. For the current research, authentic data has been carried out by the researcher because it is helps to collect and analysis the data information of the research without hurting and harming any kind of feelings and thoughts of others (Sholokhova, Denafas, and Mykhaylenko, 2021). the ethical principle for the research is helps to collect the relevant, authentic and accurate data which is help the researcher to make the study more effective and efficient.
3.8 Time Horizon:
It is the concept of the time period of the research that define the overall time that will be taken in completing the study of research. It is the important term because it is helps to complete the overall research process within the time period with effectiveness and efficient (Lin, and et.al., 2022). there are two types of time horizon such as cross-sectional and longitudinal. For the current research cross-sectional time horizon has been taken by the research for completing the research in effective and proper manner within the given time period of the specific research. As cross-sectional time horizon is known as the useful consumable time period because it is collecting the data from the many sources in a single time period (Tang, and et.al., 2020). by using the cross-sectional time horizon method by the researcher is helps them to complete the overall research and process of study in a limited time period and collecting the relative and effective data information for the study of research.
3.9 Data Analysis:
It is refers to the systematic process of logical and statistical techniques that is applying to illustrate and describe, condense and evaluate data (Valtakoski, 2020). data analysis is the study of straightforwardly interpret data that makes it more simple and accurate. It is the process of obtaining the raw data material and helps to convert into the information which is useful for making any decisions. There are two types of data analysis such as thematic and frequency distribution. For the following investigation thematic data analysis has been taken by the researchers. As it is helps to analysis the qualitative data. Thematic analysis is basically applied on the set of texts which includes transcript or interviews (Akmalovna, and Olimovna, 2020). it is help the current research to identify the patterns of data collection of the research.
3.10 Research Limitation:
In the following research, the identified problem is that secondary research is not easy for the overall process because some aspects such as it is taking too much time to gather the secondary data from the other sources (Pérez-Marín, and et.al., 2020). As it is not provide the one-handed data. It is already useable data. These all problems has been identified in the current research.
Theme 1: The Basic Understanding Regarding Belt Road Initiative (BRI) by the People's Republic of China
From the above mentioned literature review, it has been discussed that the Belt Road Initiative is described that plan for developing the trade routes that helps in connecting China with all over the world. It can also be considered as investment and long-term policy that helps in providing many opportunities for China in order to utilise their considerable projects of economy in all over the world. BRI is defined as strategy that described the initiatives of People's Republic of China. It can also be known as certain priorities like connecting people, financial integration, infrastructure connectivity, policy coordination and unimpeded trade (Cui and Song, 2019). Belt Road Initiatives is also considered as most important and ambitious infrastructure projects. It refers to a strategy which is adopted by the China's government in order to cover global infrastructure projects. BRI is associated with the large investment programs which helps in developing the roads, railways, airports and ports. It also helps in developing the power plants as well as telecommunication network by connecting with each other. It is an important project that helps in increasing the reduce poverty, foreign investments as well as expand trade. BRI involved certain objectives that focused on realising and building five connections in between the BRI corridors.
It involves reinforce trade and investment cooperation, enhancing policy coordination, moving forward to financial integration, improving the infrastructure connectivity as well as supporting people. People's republic of China used this strategy for connecting the Asia with Africa and Europe through land and maritime networks (Bandiera and Tsiropoulos, 2020). It helps in improving the stimulating economic growth, improving the regional integration as well as increasing the trade. BRI is considered as long term plan that has aim to develop the infrastructure projects. BRI provides many other benefits to the People's Republic of China such as it helps in shifting the power, reconfigure relationship as well as reroute the economic activity within the states. The primary motive of China's Belt and Road Initiative is to improve the relation and connection in between China along with the more than 80 countries through infrastructure investments and regional corporations. Its purpose is to make connectivity and economic development of inter-regional. BRI helps in maintaining economy in all over the world. It helps in increasing the foreign investment and expanding the trade through the reduction of trade costs. It is the economic strategy as well as foreign policy related to the Republic peoples of China. BRI helps in making new infrastructure that helps in filling the gap of infrastructure as well as policy gaps that can be costly for rising the public debt. It also used the represent that risks related to the big and large infrastructure projects.
These risks can be exasperate through limited sources like environmental risk, debt sustainability, government risks, social risk as well as many more (Qi, Peng and Zhang, 2019). The advantages taken by the China through BRI as it helps in reducing the travel time for economics along with the transport through the reduction of trade cost by 12%. It also help in increasing the trade in between the 2.8 and 9.7 for the economy as well as by 1.7 and 6.2 for the whole world.
The BRI is considered as an ambitious plan that develop two new and effective trade routes which connecting the China with rest of this world. But initiative is about far more than the infrastructure. This is an effort of developing an interdependent and expanded market for the China, grow China’s economic & political power, & create suitable conditions for the China in order to build a high and innovative technology economy or nation.
China has represented the BRI that is an open arrangement where all nations are welcome for taking part. Nevertheless, a formal list of the participating nation does not yet exist. It has been identified that around 71 economies geographically situated along the BRI transport corridors, involving China. During 2017, all these economies has received approximately 35% of the global foreign direct investments & also accounted for around 40% of the global merchandise exports (Szadziewski, 2021).
There are mainly three key motivations for BRI. First, & most discussed globally, is China’s competition with the US. A vast majority of the Chinese international commercialism passes by the sea through the strait off the coast of the Singapore that is major US ally. Initiative is inherent to the People's Republic of China's efforts for creating own more secure or assured trade routes.
Undoubtedly, China’s intention is to make the participating country interdependent with Chinese economy, & thereby build political and economic influence for the People's Republic of China. Therefore, in this respect it has sameness with Marshall Plan which followed Second World War – but with significant difference that the China dispenses funding to the other countries based strictly on the shared economic interests.
Second main reason of initiative is the legacy of 2008 financial crisis. Government of China responded to an emergency with ¥4tn stimulus package, issuing contracts to build bridges, airports & railways, but saturated Chinese market in procedure. Belt & Road framework facilitate an alternative market for the China’s immense state-owned organizations beyond borders of the China (Abban and Hongxing, 2021).
At last, Belt & Road has been observed as most critical component in the efforts of Chinese government’s that stimulate the economies of country's central provinces, that historically lag behind the richer coastal areas. Government utilize the Belt & Road in order to encourage & support the businesses in all these central regions, assigning budget generously, & encouraging the businesses for completing for the Belt & Road contracts (Johnston and Onjala, 2022).
China officially connected the Convention on the International Transport of the Goods Under Cover of the TIR Carnets. It has signed around 18 bilateral & multilateral global transport facilitation agreements with the 15 B&R nations, involving "Intergovernmental Agreement of Shanghai Cooperation Organization Member States on Facilitation of the International Road Transport". It has been analysed that there is a Positive progress when implementing GMS "Agreement for Facilitation of the Cross-Border Transport of the Goods & People".
Theme 2: Effective ways used by Belt Road Initiative (BRI) for engaging people of China for developing trade opportunities in South Asia and Southeast Asia
From the above information it can be outlined that there are numerous ways which are utilised by the China in order to take initiative for the road belt. BRI is said to be a strategy which has the fix target to help the country in developing and also enhancing the level of communication among the countries (Bennon and Fukuyama, 2022). Likewise, the strategies are connected by making use of various trade opportunities. Such strategies are used in order to introduce new structure in the country with the aim of fulfilling various gaps such as related to debt sustainability, social risk, government risk and many others. Along with it, there are some investors which are connected with China in order to enhance the infrastructure. In relation to that the main focus is on better connectivity, innovations, new development and many more. Due to which the overall engagement can be improved which has the power to provide the routes with the help of building free trade areas. It can also be said that it is projected by reforming commission and also the national development (Flint and Zhu, 2019).
That is why it is known to be a strategy which supports in building relation with new connections among China, Mangolia and Russia. It is considered to be the best supporting group which is focused on promoting about services and the work. As per the above information, there are numerous objectives of BRI which are required to be focused on building and realizing different connections. The connections between the BRI corridors which comprises of enhancing the level of coordination in between the policy, reinforce trade and also the investment cooperation which is connected to elevate the level of improvement with the infrastructure in terms of better connectivity. Also, moving forward to the financial integration part in order to support more people. As per the study, china proposed the Belt and Road Initiative in the year of 2013 in order to improve connectivity and cooperation on a transcontinental scale. It is known to be the strategy which is used by People's republic of China with the aim of connecting the Asia with Europe and Africa via maritime and land networks. All such connectivity will improve the regional integration, which leads to stimulate the economic growth and increasing the trade. It is understood to be the long- term plan which has the main goal to the develop the infrastructure projects. There are some more BRI benefits which includes it is helps to reconfigure relationship, shifting the power, reroute the economic activity within the states. China's Belt and Road Initiative aims to improve the connection and relation between China with the more than 80 countries via regional corporations and infrastructure investments. The purpose of BRI to economic development and connectivity of inter-regional.
It is helps to maintain the world economy. It is expanding the trade, increasing the foreign investment by reducing the trade costs. It is the foreign policy and economic strategy of the Republic peoples of China. New infrastructure can be help to fill the gap of infrastructure and policy gaps which can be costly in order to rising the public debt. It is representing the risks to the large and big infrastructure projects (Shakib and et.al., 2022). limited sources such as debt sustainability, environmental risk, government risks, social risk and many more. Along with it, the White belt road has geographical views which are linked with neighbours which are close to China. Furthermore, from the above analysis, the term belt road initiative is defined as the plan in order to develop various trade routes which is known to help in connecting the China with the world. It can also be said that BRI is said to be the long-term policy and investment which has the power to support various opportunities to China to use their considerable economy projects around the world. Furthermore, it is also defined as the strategy which is initiated by the people's Republic of China. Additionally, it can be defined as some priorities for instance policy coordination, unimpeded trade, connecting people ,infrastructure connectivity, financial integration and many others. That is why it is also known as new silk roads and it is the one of the ambitious and important infrastructure projects. It is also linked with the very large program of investment which will help in developing the infrastructure such as ports,railways, roads and airports.
That is why, it is also developing the telecommunication and power plants network by connecting with each other. It can also be defined as the ideal strategy to cover global infrastructure projects which is adopted by the government of China. It is known to be the project which can enhance and increase the foreign investments, reduce poverty and also expand the trade. As per the above mentioned information and data,the Belt and Road Initiative (BRI) is also called as One Belt, One Road. It has the ultimate target to strengthen the China's connectivity with the world. Due to which it helps in combining new and old projects that has the scope related to expansive geographic scope. As it comprises of the efforts in order to strengthen hard infrastructure, soft infrastructure, and cultural ties for the overall betterment and development. In order to be a better project the good amount was invested into it and there are also some other projects which are on their way which are associated with China. Such as railways, pipelines, optical cables and many more. The project of BRI has the ability to gain the economic and political benefits for China. It can also be said that the world has large and impressive infrastructure which affects the overall future, development and prosperity. ( Lin and Bega, 2021).
Theme 3: Challenges Faced by China Prior Belt Road Initiative in Terms of Trade and Investments
As per the above gathered information from the literature review is that there are many challenges that China prior Belt Road Initiative in context of investments and trade. They generally faced the issue of environmental hazards, labour violations as well as corruptions scandal. The major issue that they face is the delay in the service of Vietnam's elevated from many years. Investment trade is also considered as a major challenge that company face at the time of Belt road initiative. This country is more at the risk of getting fund trapped as building road involves more amount of money and investment. This is quite challenging for the company to position the repayment of the funds with the help of loan about the China Belt road initiative. This project requires more labour and funds so that the following work can be completed in an effective and efficient manner without any hurdle (Fang, Collins and Yao, 2021). China is also facing difficulty in context of following investments and trade that they need to consider for doing the complete work on time with much safety and security. The operation function is also weak and this creates difficulty in furnishing and building the road in a proper and appropriate way. These challenges makes it difficult for them to carry out the road project and in delivering high better results and outcomes.
There are different stakeholders that face problem in understanding the whole project and about the investment that needed in the initiation of the project. In some of the countries the initiative related to the China Belt road is positive and some take it as negative which results in creating problems in rasing funds for the overall project. BRI faces the issue of effective communication and this is regarded as the major problem for them in developing the road in a proper and suitable manner. They are also facing problems in managing the time of the project as all the related projects take more time in establishing the growth opportunities and trade. Knowledge related to the new technology is also a major challenge that they as this helps in making the work easy and results in acknowledging the work on the given time period. It is important for BRI to develop and trade best future projects so that they gain high variability and reliability in the construction industry (Shahriar and et. al., 2018). Policy barriers to create thick borders is also a problem for BRI that results in miscommunication among the areas as it requires proper management and deals with the requirement of the business in order to deal with the discrepancy in a proper manner.
China is also facing issue in conducting communication externally with the BRI and its establishment approach in the initiation stage. China is majorly engaged with the government related bodies without paying accurate and sufficient attention to the business related concerns, local communities and civil society organisations. It is important for China to focus on providing better working opportunities to the labour so that they gain high share in the market and can complete the work in an efficient time period. They pay attention to not only give interest to the different countries government but also the interest of their organisation, individuals and civil society organisations so as to get their participation and support in building the proper BRI project. It is important for BRI to provide proper training to the labour helps in providing high growth and success so that they complete the whole project in a precise and desirable manner in the construction market (Wu, Chen and Hu, 2021). There are mainly different technologies such as cloud computing, robotics, mobile telephony, digital imaging, clean energy and hydro power which helps in developing high growth and success. With the advancement in technology, the business helps in dividing high quality objectives that they are dealing with the uncertain situations in the utility of the resources. Road building in China is difficult as it requires lots of investment in the business and labour for finishing the work in a timely and productive manner. China is growing its financial technology within the companies, which the use of BRI for gaining privileged access to more number of customers while potentially providing Beijing major opportunities in the surveillance. Such unbanked individuals which can be delivered to the focus and determination of the public so that they develop clean and strong roads that help in achieving more sustainable environment.
It is necessary for BRI employing technology based equipments so that they complete the work in a proper and effective manner. Proper utilisation of natural resources is also important because this results in reducing the amount of cost involved in the process of developing proper roads. Making good relations with the stakeholders is also essential for the BRI so that they understand the working of the project and how they need to complete the whole work in a proper and efficient manner. Proper analysis of trade and investment is also significant as it results in interpreting the process of building road as China is a metropolitan country which focuses on implementing better roads and development (Chen and et. al., 2019). BRI needs to support and provide effective solutions to develop high quality roads so that they rely on the techniques and roles of high proactivity in initiation of the Belt road. It also helps in building connectivity with other countries and also improving the communication within the business as this builds strong roads with the help of advanced technology. Belt road initiation is carried for building better relationship with other countries and in engaging them with the activities of other countries so that they develop better relations with the people. It is the responsibility of the BRI to gain high variability and reliability in the market so that they build proper communication among people and in attaining business objectives. Thus, BRI also helps in making certain policies and procedures so the sources of the business can be utilised in an effective manner.
CONCLUSION AND RECOMMENDATION
From the above mentioned data, it has been concluded that Belt Road initiative is effective strategy for the China as it helps in making higher cooperation and connection in between the six main corridors that involves Russia, China and Magnolia. The research analysed that many different statements and policies were taken for implementing this initiative for achieving its goals. According to the above research, the primary reason of the Belt Road Initiative is make investment and trade link in between the neighbour country of China. Through this National Development Commission focuses on building marine and land network in order to connect Asia and Europe easily. BRI supports large number of people of China as it helps them to see increase in global GDP of the nation.
The research states that the primary reason for adopting this strategy is fill the gap between the infrastructure of Asia. This gap has been identified at the time of China's Han dynasty's expansion. Its other reason is to improve the physical infrastructure as well as the land corridor that equate old silk road with the new silk road. As per the above research, it has been analysed that Belt Road Initiatives is described as initiative plan which has been undertaken by the People's Republic of China. As it helps in connecting the routes by developing the China with the nation. The research analysed the BRI is also known as investment and long-term policy that offers opportunities for the China in order to use their economy projects in all over the world. Some major priorities are involved in BRI policy coordination, infrastructure connectivity, financial integration, unimpeded trade as well as connecting the people with each other. The above research states it is an important infrastructure and ambitious projects. BRI is a term that involves the overall global infrastructure projects that are adopted by the government of China. The research examine that the BRI is associated with large investment programs in order to develop the sources like roads, railways, airports as well as ports. It also helped in developing the telecommunication and power plant networks by connecting with each other. The research analysed that BRI is a strategy that helps in increasing the foreign investments as well as reduce poverty.
According to the above collected data, it has been analysed that there are many ways which is used by the China's Belt Road Initiatives. As it is based on developing the strategy in order to make better connection and relation in between the six major corridors like Mangolia, Russia and China. These ways helps them to engage people of China in order to develop trade opportunities in Southeast Asia and South Asia. The ways helps Chian to increase investment as well as trade in the BRI. It helps in very board scope encompasses cultural, strategic as well as economic connectivity. These ways are also helpful the BRI in securing the food, energy as well as resources through the leadership in the between the regional with one of the most important neighbours. The effective ways which has been used by the BRI is also helps in making better connectivity, development, openness, innovations, food and energy security, development of balanced regional and many more. Through this effectiveness and efficiency in the countries has been improved which is beneficial for the country. The effective ways which has been used by the BRI includes they increase the trade and investment in the BRI that helps in improving the bilateral and multilateral co-operation mechanisms. The research analysed that BRI focus on the policy communication, infrastructure connectivity, trade facilitation as well as many more. It provides free trade zones as well as Silk Road that is efforts to implement the strategy of free trade area speedily. It helps to engage the negotiations with the countries as well as reasons by rendering the routes of BRI by building the free trade areas.
The above research states that there are some challenges which are faced by the China's Belt Road Initiatives related to trade and investments. As there are many labour violations which creates many beneficial issues for the China. The major challenge that the China faced is environmental hazards which creates many environmental problems in BRI infrastructure projects programs. Another challenge that the China faced is due to some corruptions scandals along with the public protest. China faced problem when the Vietnam's first elevated railway line was delayed from many time due to which Hanoi was get suffered from this. The challenge that the China faced in investment of trade and opportunities that creates many disadvantages to trade. China's Belt Road initiatives is also faced problems in making the policy for countries which is most concern with the Bel Road projects of infrastructure development. The research states that the China's Belt Road initiatives is also faced issues in managing time as there are many delays in projects that cost the delays on the complement of projects. The other problem faced by them is there are some sentiment challenges of the China's public that create difficulty in building the close relations with China and many more. The research states that all these challenges which has been faced by the China prior Belt Road Initiatives in form of trade and investment. As these challenges affects the whole process of BRI's trade and investments that creates various disadvantages like high investments, low projects initiative high cost, high transportation as well as many more. There are some challenges that are faced by the China's Belt Road Initiatives. It involves that there are some countries that have the positive initiative for the BRI whereas some are not positive towards the BRI. It create problems in communicating with the China's public as it affects the performance and cost of the China's People.
From the above study it has been analysed that there are many challenges which has been faced by the China prior Belt Road Initiative in order of trade and investment which is creating many issues and problems for the Belt Road Initiative. It has been analysed that Belt Road Initiative should adopt some strategic recommendations that has been help to overcoming from the challenges. Belt Road initiative is the substantially that helps to improve the trade, foreign investment and living conditions of individuals but there are some people that are not agreed with the Belt Road initiative which is also creating many challenges and issue for the China prior Belt Road Initiative. There are some recommendations which are recommended to the Belt Road Initiative in order to faced all the challenges and issues with the positive mind. The recommendation will help to developing the countries and its routes by combined the tracks and routes. The recommendation for Belt Road Initiative China are as given below-
- Mitigate Economic Risks of BRI: the China should address the Chinese firms, push countries to adopt the technical standards that is helps to compatible with the product of U.S. They should spread the corruption through the financing which is helps to utilise the cost of the BRI. Mitigate economic risk of BRI can be address by optimizing the each of the concerns that is helps to promote the global macroeconomic stability. BRI countries should be precedence for the United States that is helps to minimise the economic risk of BRI.
- Improving U.S. Competitiveness: it is one of the best recommendation for the BRI. Improving the U.S competitiveness should helps to strength, free market principles, innovate the private sector, leading the educational institute, deep pool of private capital and many more. So, it is recommended that they should improve the competitiveness with U.S. Because it is helps in high domestic standards such as for reliability, quality, transparency and many more. This recommendation will helps to boost the federal funding for development and research which is necessary for the BRI projects and planning.
- Develop Partnerships and Strengthen Multilateral Organisational to Meet Developing Country Needs: it is also one of the most important strategy which is recommended to BRI that they should includes the partners and allies of U.S. Which is helps in making the domestics reforms that has been become the most competitive development with the offered China's BRI in other countries. This recommendation also helps in financial institution or transaction with development banks such as world banks, regional banks, and IMF. Developing the partnership and strength is helps in better communication with the BRI countries.
- Protect U.S Security Interests in BRI Countries: it is recommended to China's BRI that they should focus on the mitigating its environmental harms, economic, maintaining U.S. Competitiveness because it is necessary for the BRI markets. This recommendation also helps to minimise the China's ability for the economic influence that has been harm the U.S. Interest by concessions of extract political.
Books and Journal
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