ABSTRACT
China’s development of new Asia–Europe transport corridors under the Belt and Road Initiative (BRI) presents both opportunities and challenges to the European Union (EU). BRI transport corridors have the potential to create economic growth in some EU regions, but others might suffer losses due to the consequent relocation of transport activities. BRI projects may also negatively affect EU regional integration plans—especially in the area of transport policy. The EU’s response has been, first of all, for the European Commission (EC) to revise its overall strategy vis-à-vis China. Second, new regulations on foreign investment in critical infrastructure and the new EU–China Connectivity Platform initiative may better protect the EU’s common transport network. Third, the EU’s Europe–Asia connectivity project, its Western Balkans, and Global Gateway initiatives seek to complement and counterbalance China’s role as an architect of Eurasian connectivity. Finally, the COVID-19 pandemic constitutes a new factor that will influence the future development of the BRI by making the selection, management, and debt sustainability of Chinese-financed BRI projects an urgent issue for countries in Europe.
