The BRI has become a mechanism for representing China abroad as well as a tool to ensure China’s competitive advantage in world trade.
This also has an impact on the entire trade system redirecting trade flows and making countries compete for investments, which alters the existing order and each country’s place in this order. Buying shares of Italian strategic national companies, gaining control over ports and terminals along the BRI sea route, for example, the port of Piraeus, and other investments recently made by China force European countries to adapt their economic strategies to new conditions.
What is going on in detail? What does it mean for Europe? Read more in the Valdai Paper by authors representing both Chinese and European perspectives on the issue.
Read the paper.