Abstract
The relations between China and Central and Eastern Europe (CEE) date back to ancient times, when these regions were closely linked together for over 2000 years via the old Silk Road . Now, after a long break, the relationship is about to be revived through China’s New Silk Road project, the One Belt, One Road initiative. The initiative could provide a new framework for cooperation between China and CEE because it offers several opportunities for countries that wish to participate in implementing the strategy.
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Notes
- 1.
Wen Jiabao : Strengthen Traditional Friendship and Promote Common Development. Speech at the China–Central and Eastern Europe an Countries Economic and Trade Forum, Budapest, 25 June 2011, http://www.gov.cn/english/2011-06/26/content_1892994.htm.
- 2.
In 2013, the 16 +1 summit took place in Bucharest, Romania . In 2014 the summit was held in Belgrade, Serbia and in 2015 it was held in Suzhuo, PRC.
- 3.
This strategy puts emphasis on developing trade (and technology) relations with China and other emerging countries. Rapidly growing Asian countries are considered able to provide several business opportunities and China is considered as an alternative source of external financing.
- 4.
Regarding practical issues, the cost of investment for the whole section is around US$3 billion, which will be financed from Chinese loans. The Hungarian section costs around 472 billion HUF (US$1.67 billion/1.5 billion euros) The Hungarian section of the railway line is 166 kilometers long and the Serbian section will be 174 km. According to government information, a double track will be created and the railway line will be electrified. After completion of the railway, trains will be able to travel at speeds of up to 160 kilometers per hour. (See: http://www.kormany.hu/en/ministry-of-foreign-affairs-and-trade/news/modernisation-of-the-budapest-belgrade-railway-line-may-start-this-year).
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Acknowledgements
This paper was supported by the Hungarian OTKA Fund project no. K112450, titled “Shift in the world economy: from export orientation towards domestic demand-led growth?”
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Szunomár, Á. (2018). One Belt, One Road: Connecting China with Central and Eastern Europe?. In: Cheng, Y., Song, L., Huang, L. (eds) The Belt & Road Initiative in the Global Arena. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-10-5921-6_5
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