The Belt and Road Initiative Impact on Europe: An Italian Perspective (original) (raw)
Related papers
2017
This paper analyzes the impact of the Belt and Road Initiative on Europe with a specific focus on Italy. We concentrate on the impact of new railways and port infrastructures on bilateral trade. Our analysis suggests that the development of new railway connections will benefit most of the Northern and Central European countries. Some industries like automotive and electronics that have a higher value to weight ratio will benefit more than others. However, due to higher costs, railway services will never reach a high percentage of total import/export flows. Investment in new port facilities, although less “new” compared with railways, may be a bigger game changer. The development of the Port of Piraeus has already increased the importance of the Mediterranean Sea as an import/export hub for China. If the other planned investments in Egypt and Algeria are completed, this phenomenon will be magnified. This presents a huge challenge for Italy. The Italian port in the high Adriatic Sea c...
The New Silk Road and the Impact on the Italian Production System
Chinese Business Review, 2020
The present work analyzes the asymmetric relationship between China and Italy with a specific focus on the impact of the Belt and Road Initiative (BRI) on the Italian production system. With this analysis, it comes to light the importance of China as a partner both for the industrial system and for the Italian production system. The analysis of investments flows and trade to and from China in Italy evidence the potential benefits that the development of logistic infrastructure along the BRI, with specific reference to railway and maritime networks, could bring to Europe and Italy, as well as the quality of logistics infrastructure, comparing them also to others European Countries, using the performance index, such as Logistic Performance Index (LPI). In fact, it is evident that reducing transport costs and strengthening the infrastructure systems in several countries that are part of the BRI could gain benefits. However, the issue is to understand and examine if, in an asymmetric structural economic and political situation, the result would be win-win, or instead the advantages would be redistributed unequally.
The Belt and Road Initiative in Italy. Five Case Studies
Bern [etc.], Peter Lang, 2023, 165 p. : ill. (Global Politics and Security ; 9), ISBN 978-3-0343-4496-8; 978-3-0343-4707-5 (pdf); 978-3-0343-4708-2 (ePUB), 2023
Italy’s officially joining the China-led Belt and Road Initiative sparked a fierce debate. By analysing five fields of cooperation, the volume sheds light on whether the bilateral agreement has brought about an intensification of bilateral collaboration as wished by the Italian government at the time and whether the concerns around it have materialised. The contributions will show that potential risks coexist alongside unsubstantiated ones.
The importance of seaborne traffic for international trade: evidence from Italy
Academia Letters, 2021
The article shows that maritime transport is an important component of foreign trade and, more generally, of the economy of Italy, whether it is measured in weight or in value. Nevertheless, after the world-wide economic crisis of 2008, the marine component decreased its performances, as the economy of Italy in general. The Italian Government, in its 'National Recovery and Resilience Plan' (2021) in relation to the European program "Next Generation EU" and to the additional resources to it correlated, assigned 3.84 billion Euros for investments about ports in the period 2021-2026. Such allocation, at first glance, may appear appropriate to the importance of the maritime sector in the Italian economy. However, various doubts could arise if the effectiveness of the infrastructural works in the Italian ports and in the connections of "last mile" were considered, carried out beginning from 1999 and to the cost of several billions of euro. Such investments certainly have not produced the expected results: i.e. the massive increase of the traffic of goods in the ports, the centrality of the role of Italy like door of access from South to the EU, the growth of the international component of the traffics. In addiction even the most recent planned interventions suggest caution starting from the general consideration that it would be essential to end the period of generalized investments which have the sole result of duplicating supply in ports and reducing port and retro-port efficiency by competing for the same market.
The major global trade boost which could come from significant cost reductions, and what might get in the way The Belt and Road Initiative is increasing transport connections between Asia and Europe with potential consequences for international trade. Trade between the countries involved accounts for more than a quarter of world trade, so better connections and the lower trade costs that come with them could have a significant global impact. A halving in trade costs between countries involved in the BRI could increase world trade by 12%. Countries in Eastern Europe and central Asia stand to benefit most, but the benefits will depend on where trade costs fall. There are already some opportunities to transport goods via rail between China and Europe, which may appeal to the wide range of industries with time-sensitive inputs and products. It could take many years before other impacts of the BRI are seen. Many projects are under construction, and the BRI is open-ended. Trade facilitation barriers between countries also need to be addressed. Belt and Road President Xi Jinping launched the Belt and Road Initiative in 2013 (at the time, it was known as the 'One Belt One Road' Initiative). China has highlighted five different priorities for the BRI: policy coordination , unimpeded trade, facilitating connectivity, financial integration, and bonds between peoples (Source: China National Development and Reform Commission (2015)). The BRI is often also discussed as a policy for rebalancing the Chinese economy, stimulating Western regions, and advancing its strategic and geopolitical goals. This report focuses on the BRI as a large and long-term programme of investment in transport infrastructure across Asia and Europe. It looks at the infrastructure being built and how trade in goods could change as a result, setting other aspects of the BRI (and trade in services) to one side. The Belt and Road refer to the overland and maritime trade routes between China, Europe, the Middle East, and East Africa. The BRI will see these routes renewed and improved through a number of large-scale infrastructure projects. Along the Belt, roads, rail links, dry ports and industrial zones are being developed. Along the Road, sea ports and their connections to overland trade routes are being modernised (Figure 1).
The Belt and Road Initiative: Impacts on Global Maritime trade flows
International Transport Forum Discussion Papers, 2020
The Belt and Road Initiative (BRI) from the People’s Republic of China is receiving a tremendous amount of attention. Press articles try to document what it is, how it has advanced and what it means for different parts of the world. Assessments presented are often based on studies from think tanks, consultants and academics that discuss a variety of subjects, ranging from infrastructure development, geopolitics and global governance to the future of multilateralism. More than ten thousand articles have been written on the subject in the course of a few years. Many interpretations exist regarding the underlying objectives of the BRI. Economic motivations could include securing supply chains for strategic commodities; optimising transport chains for Chinese exports; stimulating trade opportunities of China’s inland provinces and internationalising and upgrading China’s commercial and industrial maritime cluster. This cluster includes shipping, port construction and development, shipbuilding, dredging and port services. According to some observers, military objectives might also be served. There seems to be a consensus that China aims to achieve multiple objectives through the BRI, simultaneously. Indeed, the open and flexible manner in the way that BRI is defined allows for multiple directions. The objective of this paper is to analyse the initiative’s potential impacts on global trade. The BRI is examined as a collection of planned transport-corridor developments and analyse what their impact could be on maritime trade flows.
Vinokurov E., Tsukarev T. (2018) The Silk Road Initiative and the Interests of Transit Countries: an Economic Assessment of Transport Corridors. Area Development and Policy, 3: 1: 93-113. , 2018
In the light of the implications of China's Belt and Road Initiative (BRI) for Greater Eurasia and, in particular, Eurasian Economic Union (EAEU) countries, this paper assesses the prospects of seven actual and potential trans-Eurasian overland transport corridors. Based on the analysis of trade flows, railway tariffs, existing restrictions and individual routes' potential efficiency, the most promising overland China-EU and China-EAEU transport corridors and their prospective goods nomenclatures are identified. China-EAEU-EU transit is interpreted as the 'story of the container'. The principal interests of EAEU countries in developing BRI transport corridors are identified, as are the opportunities that involvement in China's BRI affords for the promotion of a substantial transit business and, most importantly, better regional and interregional connectivity within both the EAEU and Greater Eurasia.
The Challenges and Future of the Belt and Road – From China-Europe International Railway Perspective
The China-Europe International Railway connecting Europe and Asia is one of the important plans of the Belt and Road Initiative (hereinafter: BRI). During the plan and construction of these railways, many challenges and opportunities occurred, also leading to a learning process of China and its partners. This article argues that while creating a well-connected China-Europe International Railway, China needs to definite countries for vital supporting and countries (cities) for connections. At the same time, China should make full use of multi-layer approach in its international co-operations, initiate a more mature way of investment overseas and improve the allocation of resources.
Rome, IAI, February 2024, 21 p. (IAI Papers ; 24|02), ISBN 978-88-9368-316-6, 2024
China’s Belt and Road Initiative (BRI) has entered the twilight zone in the old continent, following a deterioration of bilateral relations between the EU member states and China over the last years. Italy’s official exit from the BRI at the end of 2023 was a further blow to Chinese President Xi Jinping’s signature foreign policy. Yet, the BRI in Europe is being reconfigured rather than being terminated. In Western Europe, the BRI is moving away from physical infrastructure projects and investment in industrial assets – the latter being increasingly protected from Chinese takeovers by both national and EU legislation – to financial and monetary connectivity. This shift is welcomed by various European actors, including some policymakers at the national level, eurozone institutions and major banks. Concurrently, most of Eastern European countries continue to promote BRI projects and seek to attract Chinese investments, suggesting that there is a two-speed Europe when it comes to China, both in terms of geography and sectors.