New silk roads and financial and economic containment of China by the United States of America

Journal articles, World in motion

Recommended link to article:
Estashi L. , New silk roads and financial and economic containment of China by the United States of America // Public Administration,
2019, №5 (121)
, с. 83-95.

LAURENT ESTASHIа

аKEDGE Business School

DOI: 10.22394/2070-8378-2019-21-5-83-95

Abstract:
The statement in 2013 by President Xi Jinping on the draft of the new land and silk routes is part of the broader mercantilist Chinese ‘Great Strategy’ aimed at replacing the United States as a global hegemonic power. This vision of the new US administration has dominated since November 2016, since the election of President Donald Trump. This article is the first to consider the project of new Chinese silk roads, not only from an economic and commercial point of view, but also in terms of geopolitical interests and prospects. In other words, it is a question of comparing the constants of US geostrategic goals in the world since the end of World War II and the works of American geopolitician Nicholas John Speakman with the new Chinese ambitions underlying the projects developed within the framework of the silk roads. The work focuses on the position of the ruling US political sphere in relation to China: the decisive influence of the US military complex, as well as economic advisers focused on the problems of the trade imbalance between the United States and China. In this regard, the author hypothesizes that American financial circles, the Treasury and the central bank, large multinational companies and financial institutions no longer consider the ‘systemic’ relations that have gradually developed between the United States and China since the return of China to the capitalist sphere in the turn of the 1980s. In conclusion of the article the measures taken by the US administration since March 2018 are reflected, and the announcement of the introduction of tariffs focused exclusively on China. In other words, the ‘great’ mercantilist Chinese strategy will now respond to the ‘counter’ American strategy. Outside of the Silk Road, the United States really must restrain the rise of China in all these forms: industrial, technological, commercial, financial, diplomatic and military.

Keywords:
international trade policy, macroeconomics, balance of payments, long-term loan capital market, geopolitics

Received:
September 30, 2019

References:
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