Belt and Road Initiative: A Debate in Context with the New World Order with Chinese Characteristics

Abstract

The existing global governance system in which an unparalleled growth of China is exceedingly constrained and overwhelmed by the US and its allies. President Xi’s all-encompassing foreign policy such as the Belt and Road Initiative (BRI) primarily seeks out to develop the much-needed infrastructure, global financial integration and trade liberalisation. This paper examines the impression of China’s initiative, such as BRI on the global governance system—an area in which China has gradually expanded its input. Inspired from China’s historical prestige and ideology, Chinese institutions present three significant challenges to the existing world order; (i) the emerging non-western ideology, (ii) the non-western multilateralism, and (iii) the introduction of diversity and equality in international relations. The paper concludes that China’s unprecedented economic growth coupled with its assertive foreign policy means an alternative global governance system is emerging with Chinese characteristics.