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Understanding China’s New Diplomacy

Silk Roads and Bullet Trains

Gerald Chan

What is China’s high-speed rail diplomacy? What is China’s infrastructure diplomacy? How do they relate to each other and to the country’s Belt and Road Initiative? Can China finance the numerous projects around the world under the initiative? This book assesses the important implications of China’s new diplomacy for the global political economy. It argues that a new developmental path called ‘geo-developmentalism’ is in the making: China plays a leading role in promoting growth and building connections across Eurasia and beyond.
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Abbreviations

Silk Roads and Bullet Trains

Gerald Chan

ADB

Asian Development Bank

AIIB

Asian Infrastructure Investment Bank

APEC

Asia-Pacific Economic Cooperation

ASEAN

Association of Southeast Asian Nations

BCIM

Bangladesh-China-India-Myanmar (Economic Corridor)

BRICS

Brazil, Russia, India, China, South Africa

CDB

China Development Bank

CMIM

Chiang Mai Initiative Multilateralisation

CPEC

China-Pakistan Economic Corridor

CRRC

China Railway Rolling Stock Corporation

EU

European Union

FDI

foreign direct investment

GDP

gross domestic product

HSBC

Hong Kong and Shanghai Banking Corporation

HSR

high-speed rail

IMF

International Monetary Fund

MDBs

multilateral development banks

NDB

New (BRICS) Development Bank

NDRC

National Development and Reform Commission

OBOR

‘one belt, one road’

OECD

Organisation for Economic Co-operation and Development

PRC

People’s Republic of China

R&D

research and development

RMB

Renminbi (Chinese currency, or yuan)

ROC

Republic of China

SCO

Shanghai Cooperation Organisation

SOEs

state-owned enterprises

SRF

Silk Road Fund

UK

United Kingdom

UN

United Nations

US

United States

WTO

World Trade Organization