The Impact of the Belt and Road Initiative on China’s Economy

Abstract

This article examines the impact of the Belt and Road Initiative (BRI) on the Chinese economy, particularly in certain provinces. After the 2008 global financial crisis, global economic growth slowed. President Xi Jinping introduced the BRI in 2013. The initiative’s purpose is to energize and strengthen China's economic progress and advance cooperation between countries connected by it. This article considers the BRI's consequences and impacts on Gross Regional Product (GRP) development in some of the Chinese provinces most influenced by it. The data shows diminished GRP development in coming years. However, expanded highways, railways, and different components linked with framework projects demonstrate that the BRI will cast an optimistic effect on GRP development in the region. Keywords: BRI, Economic growth, Chinese economy, Challenges, GRP.