AN APPRAISAL OF THE ECONOMIC IMPERATIVES OF CHINA’S BELT AND ROAD INITIATIVE: LESSONS FROM AFRICA

The Belt and Road Initiative has garnered much critical scholarly attention either due to potential economic pitfalls or the burden and loss of autonomy to the Chinese. Contextualising the economic imperatives without the ideological undertones associated with most scholarly inquiry into the matter renders the analytical outcome much more nuanced and sheds new light on this initiative. While the sheer complexity of BRI can seldom be analysed in a single sectoral analysis, the integration of multi-sectoral analyses would reduce this paper’s depth. Examining Chinese policy imperatives as being shaped through an offensive-realist framework and by comparatively analysing four case studies from Africa, this paper aims at understanding the basic economic imperatives that have shaped China’s decision to initiate the BRI. The paper argues that while BRI fulfils Chinese strategic and economic interests along with the economic upliftment of recipient countries, caution is advised in soliciting such assistance. Lack of transparency and good governance practices has led to increasing suspicion and apprehension among critics. It concludes, utilising the lessons from four African countries, that recipient-country due diligence is key to mitigating any potential fears associated with financing or implementation.