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Published online by Cambridge University Press: 28 July 2022
Building on the discussion of the Belt and Road Initiative, the chapter offers a comprehensive inquiry into China’s economic statecraft. It first argues that the analogy often drawn between the BRI and the Marshall Plan misconstrues contemporary China’s economic statecraft. It then examines how the interest communities and partnership diplomacy serve as mechanisms for China’s economic influence. The next section considers how, with Chinese economic ascendancy in Asia, a semblance of Chinese centrality in Asia is emerging. The following section looks at China’s global influence effect in terms of the international discourse on its great-power standing as well as its drive for technical standard-setting in key industries. Lastly, the chapter discusses the built-in limits of the BRI and broad limitations of the Chinese economic statecraft in the twenty-first century.
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