Sustainability | Free Full-Text | Has China’s Belt and Road Initiative Intensified Bilateral Trade Links between China and the Involved Countries?

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The Belt and Street Initiative (BRI) is designed to accentuate reciprocal commerce preferentiality between China and the Belt-Street international locations. Nonetheless, there was little analysis empirically inspecting the coverage results on the commerce hyperlinks between China and the concerned international locations. This paper makes an attempt to guage the BRI results quantitatively by developing a brand new bilateral revealed commerce choice index to measure the bilateral commerce preferentiality between China and its 114 buying and selling companions. Utilizing a distinction in variations mannequin, we present that the commerce of China with the Belt-Street international locations has turn into extra preferentially linked because the implementation of the BRI. Specifically, the bilateral revealed commerce choice index between China and the Belt-Street international locations has grown roughly 8% sooner than has that with the non-Belt-Street international locations. We additional present that the BRI results are heterogeneous throughout completely different areas. The bilateral commerce hyperlinks have been extra considerably intensified within the areas of the China–Indochina Peninsula Financial Hall, the China–Pakistan Financial Hall, the China–Central Asia–West Asia Financial Hall and the Bangladesh–China–India–Myanmar Financial Hall. The findings strongly point out that BRI has been appearing as a catalyst for intensifying bilateral commerce preferentiality between China and the Belt-Street international locations.
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