China’s belt and road initiative and its energy-security dimensions

• Main Author: Umbach, Frank
• Other Authors: S. Rajaratnam School of International Studies
• Format: Working Paper
• Language: English
• Published: 2019
• Subjects: Country and Region Studies; Conflict and Stability
• Online Access: https://hdl.handle.net/10356/81308; http://hdl.handle.net/10220/47452
• Institution: Nanyang Technological University

China’s Belt and Road Initiative (BRI) is officially neither a Chinese “Marshall Plan” nor a geopolitical master strategy. At present, it involves 84 countries, rising from 65 countries in 2015, and 15 Chinese provinces. Over the last year, the number of countries being concerned or ambivalent about China’s motivations and strategic objectives behind the BRI have increased. Despite officially supporting China’s BRI, the International Monetary Fund (IMF) also warned last April, that China is supporting unneeded and unsustainable projects in many countries, leading to heavy and unpayable debt burdens. In ASEAN, Chinese investments are welcomed but there are also misgivings about the BRI’s strategic objectives which may constrain ASEAN’s policy options. As China is presently and will remain the single most influential country in global energy markets in the next decades, it is not surprising that its infrastructure plans of building railways, highways and ports are often interlinked with China’s energy and raw materials projects abroad and its domestic energy policies. This paper analyses the energy dimensions of the BRI and its strategic implications for its wider economic, foreign and security policies in Southeast Asia, South Asia, Central Asia and the Middle East.