By Thomas Cavanna
The United States’ response to a rising China has largely focused on bolstering military capabilities, doctrines, and partnerships in the Asia-Pacific (or, more recently, the Indo-Pacific). This approach misconstrues the problem: it overstates the security threat and understates (or ignores) the economic challenge. To maintain its dominant position globally in the long-term, the United States must reckon with the ambitious geoeconomic endeavor Beijing has launched to project strategic influence across the Eurasian continent, which hosts most of the world’s economic centers and natural resources.
The nascent Belt and Road Initiative (BRI) illustrates the transformative geopolitical implications of China’s rise. Despite its changing contours and the fact that it partly recycles preexisting plans, this series of major infrastructure and development projects designed to connect Eurasian regions together is a coherent enterprise of unprecedented scale: $4 trillion of promised investments in 65 countries representing 70 percent of the world’s population, 55 percent of its GNP, and 75 percent of its energy reserves. The BRI aims to stabilize China’s western peripheries, rekindle its economy, propel non-Western international economic institutions, gain influence in other countries, and diversify trade suppliers/routes while circumventing the U.S. pivot to Asia.
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