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This would serve to enhance economic interconnectivity and facilitate development across Eurasia, East Africa and more than 60 partner countries.
First proposed in Septemberit is the signature foreign policy initiative of Chinese President Xi Jinping. It is a project of unprecedented geographical and financial scope.
BRI has two primary components: The MSR is focused on developing key seaports that connect to land-based transportation routes. Yet behind the rhetoric of harmony and mutuality lies a substantive strategy for growing an emerging China-led operating system for the international economy.
The prospect of access to Chinese financial largesse to fund much-needed infrastructure investments has attracted attention from many prospective partner nations.
Many of these appreciate the minimal political conditionalities that come with Chinese finance, in comparison to finance on offer from the International Monetary Fund, the World Bank, and the Asian Development Bank.
Perhaps foremost among these is the issue of industrial over-capacity.
This is a significant political dividend for the Chinese government. In relation to energy security, the BRI will assist China in diversifying its energy sources through greater access to Russian and Iranian oil and gas.
This will be achieved by linking with pipeline networks from Russia and Central Asia. By investing in pipelines from Gwadar, on the coast of Pakistan, to Xinjiang, and from coastal Myanmar to Yunnan, China also can diversify its transportation routes for maritime energy supplies.
This reduces its vulnerability to energy supply disruption at maritime choke-points in the Strait of Malacca and the South China Sea. This would assist in keeping vulnerable critical sea lines of communication open for maritime energy supplies from the Middle East.
China is aiming to spur a new round of economic globalisation, but in a changed international order that it has a pivotal role in shaping. Somewhat paradoxically, given the investment focus on hydrocarbon pipelines, the BRI also represents the vehicle through which China is likely to shape the contours of the emerging international post-carbon economy.
A combination of the climate emergency and market behaviours are making fossil fuel energy production increasingly uneconomic. This has spurred an accelerating transition away from fossil fuels and toward renewable energy generation. China is a world leader in green and alternative energy technologies.
Through the BIR it is well-placed to be the dominant player in facilitating the transition and roll-out of renewable energy infrastructure across Eurasia. This is especially so since the Trump administration has ceded American influence in international climate politics through its repudiation of proactive climate policies.
Leadership on international climate action is one area in which China can develop significant soft power cache, particularly with developing countries of the global south. A declaration of intent as bold as that made in Beijing over the weekend at the Belt and Road Forum for International Co-operation would have been inconceivable prior to the US election.
This is based on a complementary supplier-consumer energy relationship and a mutual antagonism to the US. However, not all regional countries see the BRI as a boon.With the advent of the Internet and plenty of web development technologies around the world, e-business is the new mantra of businesses in today’s world.
The Internet has in many ways facilitated the development of businesses worldwide that can reach out to a wider consumer base and advertises their products more effectively and efficiently.
With the advent of the Internet and plenty of web development technologies around the world, e-business is the new mantra of businesses in today’s world. The Internet has in many ways facilitated the development of businesses worldwide that can reach out to a wider consumer base and advertises their products more effectively and efficiently.
Law, Lawyering and Legal Education: Building an Ethical Profession in a Globalizing World (Challenges of Globalisation) - Kindle edition by Charles Sampford, Hugh Breakey.
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Globalisation refers to the process by which the world’s local and regional economies, societies, and cultures have become integrated together through a global network of communication, transportation and trade.
With reference to industry it is also the shift to a globalised economic system dominated by supranational (across and above the governments of nations) corporate trade and banking. The Single Market Strategy is the European Commission’s plan to unlock the full potential of the Single Market, creating more opportunities for people and business.
This Master's programme examines key issues from both a business and economic perspective, including how multinational corporations leverage financial markets when seeking to exploit international business opportunities, the management challenges presented, and the relevance of these to financial and capital markets.