The Belt and Road Initiative Explained: Myths and Ideology versus Hard Facts by Ulf Henning Richter, Tongji University

There is great debate on the nature, scope and future sustainability of the Belt and Road Initiative (BRI), its implication for global governance, and its role in China's emergence as a global power, six years after its first announcement by President Xi Jinping in a speech in Kazakhstan. While many politicians, scholars, and corporate decision makers emphasize the visionary nature and win-win cooperation inherent in the BRI, others around the world are puzzled by its purpose, motivation, implementation, and impact. Most notably,  the USA started a major trade dispute with China, while 24 out of 25 EU ambassadors issued a statement of protest in 2017 for the negligence and difficulties for European enterprises to participate in the BRI. Some argue that the BRI is at the heart of a paradigm shift, challenging the dominance of Western liberal democracies towards a more multipolar world that puts state capitalism at the very core of large scale transformation in the 21st century. Others argue that China has provided a roadmap for its peaceful re-emergence as a dominant global power, that is still in its infancy, open for interpretation, and has ample room for engagement. The author draws upon the reflections and experiences of experts and practitioners worldwide to build a thorough understanding of strategy practice and execution of the BRI across the world. Accordingly, the author will shed light at: (i) Motivations for the BRI, (ii) Planning and organization / Contextual Understanding, (iii) Implementation & execution (including preliminary results / success stories / failures), and (iv) Implications & risks.