Belt & Road Initiative (BRI) under the Intensified China-USA Rivalry in ASEAN
Keywords:
Belt and Road Initiative (BRI), Rivalry, USA, China, ASEANAbstract
The year 2021 saw the intensified China-USA rivalry in ASEAN which would certainly impact the future strategy and performance of the Belt & Road Initiative (BRI). This paper revisits the importance of ASEAN for BRI, reviews the timelines of engagement between ASEAN and the two superpowers, compares their achievements especially in trade and investment, and speculates on China’s response. The major findings are: 1) ASEAN is a crucial stakeholder in BRI infrastructures 2) In the period of the past two decades, China seemed to have a stronger commitment and more coherent policies relative to the USA in its engagement with ASEAN, However, the USA is still the top export market and source of FDI for quite a few countries in ASEAN and 3) As ASEAN would hold on to its position of “not taking sides”, China would do its best to defend a unified world of trade, investment and technology together with its ASEAN partners, with a new strategy for BRI focusing on the digital economy, regional supply chain, and power of discourse.
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