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Constantin Holzer,Eun-Hye Lee 동아시아무역학회 2021 Journal of East Asian Trade(JEAT) Vol.3 No.2
Purpose – The purpose of this paper is to offer a systematic comparison between the EU Connectivity Strategy and China’s Belt-and-Road Initiative (BRI), the world’s two most significant connectivity plans for economic development. Design/Methodology/Approach – Based on a comparative approach, the paper delves into geopolitical factors shaping both initiatives, the tension between a unilateral and a rules-based system of Asia-Europe connectivity and explores opportunities of enhanced connectivity cooperation between China and the EU. Findings – This paper identifies both key differences as well as synergies between the BRI and the EU Connectivity Strategy. The EU Connectivity Strategy for Asia and China’s Belt and Road Initiative (BRI) share similar goals in boosting sustainable growth and trade across the continents through investments in critical infrastructure. A sense of competition between the BRI and the Connectivity Strategy has the potential to change both initiatives for the better, however stronger commitment from the part of the EU will be necessary if it wants to be able to provide an alternative to China’s development model in third countries and sustain its privileged position as the world’s largest trading block. Research Implications – This article wants to foster pragmatic and goal-oriented dialogue between the EU and China that can lead to shared principles of connectivity. The key question is to what extent will the EU be able to respond to geopolitical realities and craft a rules-based alternative to China’s state-led economic development plan.