Belt and Road Initiative: prerequisites for China’s modern foreign economic policy

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Abstract


The article deals with internal and external factors, which have an impact on China’s foreign economic policy at the period of the “new normal”, highlights new priorities and directions for the modern foreign economic policy in China. The article attempts to summarize all the economic, political, environmental, and social challenges that the Chinese leadership currently faces at the domestic, regional, and global levels. Special attention is paid to the One Belt, One Road Initiative, which reflects and summarizes new directions of China’s foreign economic policy in the context of slowing down the national economy development, excessive production capacity, the growing disparity in the development of Western and Eastern regions of China, the escalation of economic confrontation with the United States and further deepening cooperation with countries in the Asian region.


About the authors

Irina N. Belova

Peoples’ Friendship University of Russia (RUDN University)

Author for correspondence.
Email: belova-in@rudn.ru
6 Miklukho-Maklaya St, Moscow, 117198, Russian Federation

Candidate of Science (in Economics), Associate Professor of the Department of International Economic Relations of the Faculty of Economics

Elena A. Egorycheva

Peoples’ Friendship University of Russia (RUDN University)

Email: egorycheva-ea@rudn.ru
6 Miklukho-Maklaya St, Moscow, 117198, Russian Federation

senior lecturer of the Department of National Economy of the Faculty of Economics

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