Can policy coordination facilitate unimpeded trade? An empirical study on factors influencing smooth trade along the Belt and Road
- Autores: Zhenli Xu, Jian Xu
- Localización: Applied Mathematics and Nonlinear Sciences, ISSN-e 2444-8656, Vol. 8, Nº. 2, 2023, págs. 447-456
- Idioma: inglés
- Enlaces
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Resumen
There are 94 countries and regions along the Belt and Road (CRBR). China proposed the Belt and Road Initiative (BRI) in2013, and it encompasses five core elements: unimpeded trade (UT), policy coordination (PC), infrastructure connectivity(IC), financial integration (FI) and people-to-people bond (PPB). The BRI has facilitated international relations and mul-tilateral trade, in addition to building a community with a shared future for mankind. However, factors such as politicalrelations and cultural distance have affected bilateral trade (BT) between China and CRBR. Further analysis is requiredto explore the association between UT and policy, infrastructure, financial and people-to-people connectivity. A multiplelinear regression analysis using SPSS 20 revealed that: (1) IC, FI, PPB and improved economic levels can promote BT tovarying degrees, but spatial distance inhibits the development of BT; and (2) the coordination between policy subjects doesnot promote UT up to any significant level. Accordingly, strengthening infrastructure and FI, promoting people-to-peopleand bilateral exchanges, and opening extra China–Europe freight trains and maritime transport will enhance UT, expandBT and invigorate the global economy
