East Asian Policy

This article discusses the rationale for the Belt and Road Initiative (BRI) and conducts an empirical analysis utilising a revised gravity model linking connective infrastructure constructed under the auspices of the BRI with global trade in the 2010–22 period. The authors’ empirical analysis shows that BRI connective infrastructure projects are beneficial to both the export and import countries. After controlling for all other factors, the existence of connective infrastructure in the export country is associated with a 25% increase in its export value, with a significant reduction in the transport costs.

What were the driving forces and policies that supported the Digital Silk Road (DSR) scheme? How are they linked to Chinese domestic innovative capabilities in the digital economy? This article presents an analysis of policies promoting DSR infrastructure and facilities in different regions in Asia and Africa. It also discusses key concepts such as digital sovereignty and geopolitics in their historical contexts.

Chinese state-owned enterprises (SOEs) are the primary implementers of China’s Belt and Road Initiative (BRI). This article identifies three trends in Chinese SOEs’ development of overseas infrastructure through the BRI. Specifically, they are diversifying project models, pursuing more small and medium-sized projects, and partnering with new international actors. It also considers the implications of these shifts for Chinese SOEs and host countries.

This article examines the dynamics and consequences of China’s Belt and Road Initiative (BRI) in relation to Thailand’s development plan, focusing on cross-border trade from Thailand to China via the Laos–China Railway. Transboundary regulations and constraints in infrastructure are obstacles impeding economic integration and regional connectivity. Evidently, initiatives such as setting up stations for agricultural inspection and quarantine have not led to increased trade volume via the rail network. Continual efforts to fix infrastructural gaps and promote discourse on regulatory and procedural issues are imperative to fully realise the potential of Thailand–China cross-border trade via railway networks under the BRI framework.

The East Coast Rail Link (ECRL) forms a key component of China’s regional infrastructure plans while promising local development and enhanced economic growth. The project is also Beijing’s answer to its “Malacca Dilemma”. There are, however, immense challenges to the project, such as transparency, economic viability and local stakeholder concerns. This article analyses the geoeconomic regional implications of the ECRL and discusses the project in the context of Malaysia’s internal dynamics.

China and Pakistan celebrated the 10th anniversary of the launch of the China–Pakistan Economic Corridor (CPEC) in 2023. Over the past decade, the CPEC has been developed amid controversies and challenges, and has achieved notable successes, especially in large-scale infrastructure construction, which has laid the foundation for Pakistan’s economic development in the long term. However, the ever-changing domestic and international environment has not alleviated the challenges and risks facing the future development of the CPEC. Domestic instability in Pakistan, as well as intensifying strategic competition between the United States and China, could affect the future of the CPEC.

This article traces Australia’s evolving position on the Belt and Road Initiative (BRI) from 2016 to 2020, and its interrelated justifications for rejecting the BRI. The authors demonstrate that debate over the BRI disrupted a long-standing consensus about the centrality of free trade and investment to Australian foreign economic policy. They argue that the BRI signifies Australia’s shift from an enthusiastic support for global free trade in the past to a more qualified security-sensitive approach.

As the least developed country with an extreme lack of financial resources, borrowing is an inevitable way for Lao People’s Democratic Republic (Lao PDR or Laos) to develop its economy. However, in recent years, due to a deteriorating external environment, Laos’ economic activity has been weighed down and has faced considerable external debt servicing risks. This article analyses the development and evolution characteristics of Laos’ external debt since the reform and opening up.