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The Challenge to the Challenge: The Belt and Road Initiative’s Implications for Liberal Trade and (Digital) Finance and the Response in Other Countries

In this project, we consider the implications of the Belt and Road Initiative (BRI) for the liberal script. We focus on two policy areas, namely trade and finance. Both are critical for the potential re-allocation of wealth across borders.

We begin with a definition of the script in this area, and we discuss the international arenas, which are generally international organizations, where conflicts over these issues play out. We consider what the “China shock” through the BRI means as a first step.

As a second step, which we would suggest is more innovative, we focus on the challenge to the challenge:

  • How do governments respond to this challenge, and what explains the variation?
  • Do they use the existing international organizations to address the BRI, or do they take other measures, or accept the BRI?
  • Regardless of which approach is taken, what are the consequences for the liberal script in these policy areas?