Emerging Countries Strategy for China: Focusing on BRI

8 Pages Posted: 20 Jun 2019

See all articles by Pyeong Seob Yang

Pyeong Seob Yang

Korea Institute for International Economic Policy

Young Ho Park

Korea Institute for International Economic Policy

Jae Wan Cheong

Korea Institute for International Economic Policy

Cheol-Won Lee

Korea Institute for International Economic Policy

Jin-O Kim

Korea Institute for International Economic Policy

Su Yeob Na

Korea Institute for International Economic Policy

Hyo-jin Lee

Korea Institute for International Economic Policy

Youngkwan Jo

Kyungpook National University

Date Written: March 27, 2019

Abstract

Recently, the need to advance into emerging markets has increased for Korea with changes in U.S. trade policy and the proliferation of trade protectionism around the world. In order to diversify its export markets and diplomacy, Korea is pursuing its New Northern Policy (NNP) and New Southern Policy (NSP). China's Belt and Road Initiative (BRI) is a new regional development strategy from an internal perspective and a cooperative initiative from an external perspective. The BRI is a realization of the new Silk Road Economic Zone covering land and sea, to be realized comprehensively in cooperation with China's domestic and overseas development projects as a long-term mega-project, and which is expected to generate substantial economic ripple effects. China is working on the BRI to establish cooperative systems and plans, including infrastructure connections, and to promote collaborative projects with the five emerging regions of Central and Eastern Europe, the Middle East and Africa, CIS and Central Asia, South Asia and ASEAN. There is a need to link Korea and China's national strategy and the target countries of Korea's NNP and NSP, closely aligned with countries along China’s BRI route. This plan holds high potential for all countries involved.

This study performs an overview of emerging regional strategies based on China's BRI and an in-depth analysis of emerging countries' economic cooperation policy toward China, with the aim of drawing important implications for Korea.

Keywords: Emerging Countries, China, BRI

Suggested Citation

Yang, Pyeong Seob and Park, Young Ho and Cheong, Jae Wan and Lee, Cheol-Won and Kim, Jin-O and Na, Su Yeob and Lee, Hyo-jin and Jo, Youngkwan, Emerging Countries Strategy for China: Focusing on BRI (March 27, 2019). KIEP Research Paper, World Economy Brief 19-05. Available at SSRN: https://ssrn.com/abstract=3407191 or http://dx.doi.org/10.2139/ssrn.3407191

Pyeong Seob Yang (Contact Author)

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Young Ho Park

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Jae Wan Cheong

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Cheol-Won Lee

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Jin-O Kim

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Su Yeob Na

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Hyo-jin Lee

Korea Institute for International Economic Policy ( email )

Seoul 137-602

Youngkwan Jo

Kyungpook National University ( email )

Korea, Republic of (South Korea)

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