Book review: Pradumna B. Rana and Xianbai Ji, China’s Belt and Road Initiative: Impacts on Asia and Policy Agenda:
08 Nov 2021-China Report (SAGE PublicationsSage India: New Delhi, India)-Vol. 57, Iss: 4, pp 478-481
TL;DR: Rana and Ji as mentioned in this paper, China's Belt and Road Initiative: Impacts on Asia and Policy Agenda, 2020, xx + 186 pp., 51, €99 (Hardcover).
Abstract: Pradumna B. Rana and Xianbai Ji, China’s Belt and Road Initiative: Impacts on Asia and Policy Agenda. Singapore: Palgrave Macmillan, 2020, xx + 186 pp., 51, €99 (Hardcover).
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TL;DR: In this paper , the authors explore how and to what extent state capitalism has shaped the political economy of a rising China in Indonesia and identify three characteristics of an emerging transnational state capitalism in Southeast Asia: state-centric in its overall direction and operation; simultaneous pursuit of economic-cum-geopolitical interests; and an inability to stem structural weaknesses associated with statist economic directives.
Abstract: Extending the growing literature within international political economy, this article puts forth the notion of transnational state capitalism, taking into account the anaemic growth gripping the global economy since the 2008 economic crisis and China’s massive efforts to export infrastructure following the launch of the Belt and Road Initiative (BRI) in 2013. Focussing on the agencies, practices and outcomes of the Jakarta-Bandung High Speed Rail, one of the largest infrastructure undertakings in Southeast Asia since the BRI’s inception, this article explores how and to what extent state capitalism has shaped the political economy of a rising China in Indonesia. We identify three characteristics of an emerging transnational state capitalism in Southeast Asia: state-centric in its overall direction and operation; simultaneous pursuit of economic-cum-geopolitical interests; and an inability to stem structural weaknesses associated with statist economic directives (which have been further complicated by its intertwining with host state dynamics). Our central argument is that although this project was initially conceived as a business-to-business arrangement, it has increased the appeal of state intervention in a transnational context. The driving forces include Indonesia’s political economy and the Chinese state-owned enterprises’ dual agenda of seeking profits and advancing geopolitical goals. We also argue that the project’s statist nature has brought about some side-effects such as inefficient resource allocation and incumbency bias, thus raising concerns about the vulnerability of state capitalist models. Our findings highlight the importance of conceptualizing the transnational state against the backdrop of a globalizing China, going beyond parochial understandings of this increasingly salient phenomenon.
6 citations
TL;DR: In this paper , the Association of Southeast Asian Nations (ASEAN), which serves as the linchpin of regionalism in East Asia, is facing a new challenge of great power politics.
Abstract: The Association of Southeast Asian Nations (ASEAN), which serves as the linchpin of regionalism in East Asia, is facing a new challenge of great power politics. This article explores ASEAN's position in and strategy for taking cooperative regional initiatives by referring to the management of confrontational politics between rival states. It explains ASEAN's handling of great power politics theoretically by impartial enmeshment for managing great powers’ material interests and moral legitimacy in developing specific ideational frameworks. This article argues that ASEAN managed great powers’ rivalry by enmeshing them into its regional initiatives impartially and maintaining organisational legitimacy by developing systems of socio-cultural norms. It also contends that ASEAN needs, in envisioning the future of Indo-Pacific regionalism, to extend its strategic reach through alignments with other parties and enhance moral legitimacy by deepening and broadening normative frameworks for advancing collective interests for the Indo-Pacific region.
3 citations
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TL;DR: In recent decades, China has emerged as a leader in international development finance, with the potential to provide sorely needed funds to address major global developmental gaps as mentioned in this paper. But not ever...
Abstract: In recent decades China has emerged as a leader in international development finance, with the potential to provide sorely needed funds to address major global developmental gaps. However, not ever...
39 citations
TL;DR: The Belt and Road Initiative (BRI) as mentioned in this paper was proposed by Chinese President Xi Jinping to build an economic belt and a 21st-century Maritime Silk Road, which were formalised as the BRI in 2013.
Abstract: Chinese President Xi Jinping initially proposed to build an ‘economic belt’ and a ‘21st-century Maritime Silk Road’ in 2013 which were formalised as the ‘Belt and Road Initiative’ (BRI) in a docume...
16 citations
TL;DR: Sino-Indian Relations in the Asia-Pacific Century: The rise of the People's Republic of China (PRC) over the past few decades have generated a spate of both academic and policy debates as mentioned in this paper.
Abstract: Sino-Indian Relations in the Asia-Pacific Century: The rise of the People’s Republic of China (PRC) over the past few decades have generated a spate of both academic and policy debates The princip
2 citations