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9 months ago

Diplomatic World_nummer 56.

potential for crises

potential for crises related to an influx of contraband which would increase the amount of counterfeits and dangerous products. This is directly linked to the next issue, transparency. The transparency of the BRI has to be ensured too, not just with what goes in and out, but also with how it complies with western values. The rules and regulations related to the initiative need to be clear in a way that allows the public to be informed, so as to promote an open and healthy debate on the subject. Aside from its push in the AIIB however, the EU is not without further bargaining chip. As China’s biggest trade partner, the EU has weight that it can throw around. This can be used to promote the sort of transparency and stability that the Union is looking for. At the end of the day, if the EU successfully manages to hinder Chinese investment (as they have already tried) in the Union, then no one benefits. Therefore both parties are dependent on each other. ultimately hinder developing trade between the two entities. But on the other hand, the EU also relies on China as a major trade partner, and it is very unlikely that China would succumb to European demands seeing as it has to maintain its foothold as a global power. A balance would need to be struck, and if successful, then the EU and China would potentially enter a new era of prosperity. The Belt and Road initiative is not a simple one, being the most ambitious initiative of its kind in the modern day and age. Brussels is faced with a challenge: either they get on board and make their terms and conditions heard, or they opt out and lose an opportunity to develop their trade and further boost the European economy. Success is a choice and if Brussels can unite itself on the initiative, then it will have chosen to succeed. For more information, feel free to send an email to Philippe.Billiet@billiet-co.be On the one hand, if the EU does not want the BRI to succeed then China will find it difficult to do so, and it will Flávia Miari Cançado, Intern at Billiet & Co Lawyers. Aviel Sokolovsky, Intern at Billiet & Co Lawyers. 100 1 BBC, “5 Ambiciosos Projetos de Infraestrutura com os quais a China quer sacudir a Ordem Econômica Mundial” (2017), in English “5 Ambitious Projects with which China wants to shake the World Economic Order”. See in http://www.bbc.com/portuguese/internacional-39976899. 2 Belt and Road official website, short infographic video number 1. See in https://beltandroad.hktdc.com/en/belt-and-road-basics 3 EY, “Record Foreign Direct Investment in Europe sparks job creation boom” (2017). See in http://www.ey.com/gl/en/newsroom/news-releases/news-eyrecord-foreign-direct-investment-in-europe-sparks-job-creation-boom 4 Anders Fogh Rasmussen, “China’s investment in Europe offers opportunities - and threats”, (2017). See in https://www.ft.com/content/9e7428cc-c963-11e7-8536- d321d0d897a3 5 Mercy Kuo, “Belt and road initiative: EU strategic interests in Asia, insights from Richard Ghiasy”, (2017) See in https://thediplomat.com/2017/10/belt-and-road-initiative-eustrategic-interests-in-asia/ 6 Mercy Kuo, “Belt and road initiative: EU strategic interests in Asia, insights from Richard Ghiasy”, (2017) See in https://thediplomat.com/2017/10/belt-and-road-initiative-eustrategic-interests-in-asia/ 7 F. William Engdahl, “Will China’s Belt and Road (BRI) Trigger and East-West Rupture Within the EU?”, (2018). See in https://www.globalresearch.ca/will-chinas-belt-and-road-bri-trigger-aneast-west-rupture-within-the-eu/5627681 8 Astrid Pepermans, Leia Wang, Stephan Klose, “An uphill struggle? Towards coordinated EU Engagement with China’s Belt and Road Initiative” (2017). See in http://www.egmontinstitute.be/uphillstruggle-towards-coordinated-eu-engagement-chinas-belt-road-initiative/ 9 Astrid Pepermans, Leia Wang, Stephan Klose, “An uphill struggle? Towards coordinated EU Engagement with China’s Belt and Road Initiative” (2017). See in http://www.egmontinstitute.be/uphillstruggle-towards-coordinated-eu-engagement-chinas-belt-road-initiative/ 10 Ujvari, B., “The European Union and the China-led transformation of Global Economic Governance”, (2016). See in http://www.egmontinstitute.be/content/uploads/2016/06/ep85. pdf?type=pdf. 11 Chuchu Zhang and Chaowei Xiao, “China’s Belt and Road Initiative Faces New Security Challenges in 2018”, (2017). See in: https:// thediplomat.com/2017/12/chinas-belt-and-road-initiative-faces-newsecurity-challenges-in-2018/

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